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Homes Sold Report Dover NH November 8, 2013

By
Real Estate Agent with The Bean Group

In this Dover NH Homes Sold Report, we're looking at year to date data since the beginning of the year and comparing it to the same period over the last three years to determine the health of the Dover Real Estate Market.

Dover NH Homes In Demand

An important factor we use to determine the level of demand in any particular market is the Average Days On Market (DOM).  In 2010, the now expired Federal Home Buyer Tax Credit was in effect and stimulated home buyers to take advantage of an $8,000 tax credit when purchasing a home.  The Tax Credit artificially propped up demand and as soon as it expired, the market returned to it's normal trends.  DOM today is at it's lowest level, 82 days, in this study indicating Dover NH homes are in high demand.

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Dover NH Homes Sales Post Up Again

The biggest increase in homes sold occurred in 2012 with the number of homes sold up 32%.  The detrimental effect of this phenomenal growth in sales is a decrease in inventory.  When the laws of supply and demand take over, we see Dover NH home prices increase.  New listings can't keep up with the demand and yet Dover NH homes sold is up again by 5% this year so far.

Median Sales Price vs Average Sales Price

It is said that Median Sales Price is a better indicator of price trends than Average Sales Price.  Reasoning is Average Sales Price can be artificially skewed by one transaction of an extremely high or low sales price.  Median Sales Price is the transaction in the middle of all the data with half of the sales above this price and half below.

Prices Headed Upward On Dover NH Homes

As demand fell in 2011, so did Dover NH homes prices.  As demand out paced supply in 2012, prices went up and in 2013, they are still climbing.  Home sales and prices are going to increase going forward because Dover NH is a fantastic place to live.  This is great news for sellers but what about buyers?

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 Why Buy Dover NH Homes?

With prices headed skyward, why buy in Dover?  Dover NH homes are in great demand because Dover NH is a great place to live, work, and play.  Dover NH has great schools, churches, restaurants, businesses, entertainment, and government that is family and business oriented.  Dover residents have seen the bottom of the housing market and are now enjoying good old fashioned appreciation.  Buying Dover NH homes today is a good proposition based on home values on the rise.  Search homes for sale => Dover NH Homes

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