Manchester NH Real Estate 2020 CONDO Market UPDATE - 2021 Outlook

Condominiums in the Manchester NH area were Red Hot in 2020.  Lets look back to the stats and lets look ahead to see what the 2021 Real Estate market may be like here in the Manchester NH area. Record sales came to a halt in December of 2020 as the market slowed. We are seeing an incredible shortage of homes listed for sale. We saw a drop in interest rates this December. We also see many Buyers and Sellers not sure whether to Buy or Sell NOW or WAIT until spring.

LETS LOOK AT SOME STATS

In 2019 There was 427 Condo sales for an average of $180,160

In 2020 There was  392 Condo sales for an average of $199,871

DOES IT MATTER WHICH REALTOR I HIRE?. There is a difference from agent to agent. Support local business and chose us "The Godzyk Real Estate Services", your home town Realtor for 35 years who offers some of the most personal and professional service there can be. We stand by you through each step of the buying or selling process.

* * * * * * * * *

MARKET REPORT

January 1, 2021 

• There are 9 CONDOMINIUM STYLE HOMES FOR SALE: The average priced home is $256,277. The lowest priced home is $110,000. The highest priced home is $434,900.
•  
• There are 72 CONDOMINIUM STYLE HOMES UNDER CONTRACT:  
•  
• There are 402 CONDOMINIUM STYLE HOMES SOLD 1/1/20 TO 12/31/2020: The average SALE PRICE is $199,426. The average DAYS ON MARKET is 47 
•  

• * Data from NNEREN, subject to change, error or omission

•  

WHAT CAN WE LOOK FOR IN 2021?

For HOME BUYERS, Now may be the best interest rates they ever see. That means they get "more house" for a lower monthly payment. There are new listings hitting the market. With a decrease in listings, it can take hiring the BEST buyer agent willing to work with them to not only find them, but get their purchase closed. Economists are already forecasting an increase in interest rates. Waiting could cost you more money as a buyer. 

For HOME SELLERS, now could be the best time to sell with very few listings as competition. Prices have stabilized. Bidding wars are more rare. Appraisers are causing chaos with appraisals coming in lower than selling prices. What does this all mean for would be home sellers you ask? It means pricing the home correctly is important. Over priced homes are not selling. Even if you find a buyer, appraisers are squashing deals by using lower valued sales. It means listing now with little competition, may get you full market price now. Your choice of who to list with means everything. The days of placing a for sale sign up and the house sells itself are over. You need an agent who works for you through each step of the selling process. Here in NH, that is me. A full service locally owned brokerage who can show you there is a difference between agents. 

ARE YOU BEHIND IN YOUR MORTGAGE PAYMENTS? We may be able to help.The protections for people who are behind will becoming to an end. You have options, but the time to wait to hear them is running out. We can help... There is options to save your home. There are options to bring you current again. For those with no ability to begin making monthly payment again, you have your equity. Do not let the bank take it. You can sell now at full price and cash in on your equity to move forward and build your future. Please call or email today as each day reduces your option. From full price offers to quick cash closings, we do it all. 

DOES IT MATTER WHICH REALTOR I HIRE?. Please do not forget, that there is a difference from agent to agent. Support local business and chose us, your home town Realtor for 35 years who offers some of the most personal and professional service there can be. We stand by you through each step of the buying or selling process.

PLEASE CALL US FOR A FREE MARKET ANALYSIS TO SEE WHAT YOUR HOME IS WORTH.