Manchester NH Real Estate Market REPORT June 6, 2022

This week promises more Market changes, but not how most people are thinking or predicting. Interest rates actually came down to near 5.09% on average last week with a sharp decrease in new mortgage applications. The amount of houses on the market increased sharply as new listings increase. The amount of listings though, is still down near 49% from 2020.

Some of the bigger changes to the market are homes that are over priced are not selling. We are seeing a variety of price decreases on over priced homes over time. 

The HARD FACTS are that instead of 20 plus offers on a new listing, we see perhaps 4-5. One of the biggest factors is that location matters. We see that what school is in your neighborhood matters. We also see the condition of the home matters. We see the BEST offers coming in the first day. Often a buyer who lost out on a home in the past. They make their highest and best offer first. We see many sellers who "missed the boat" on selling. Gone are the days of putting any price on a home and actually getting a buyer to pay it. We see homes in the best areas and school districts getting the best offers. 

On the flip side, we actually see some homes under priced. The seller could have actually sold for more. Their choice of agent most often the cause. Out of town agents. Inexperienced agents... Sellers need to choose well experienced agents to get real time facts as our market changes.

We also hear buyers who say they have been looking for months. The simple answer in a lot of cases is they need to write better offers. Sounds simple but again an example of why choosing a better agent is a must as the market sways back in forth.

We are also seeing a trend with banks being tougher on borrowers. the criteria to get a mortgage is stricter. Appraisals are coming in lower. Some warranted but some not warranted. Look for appraisal issues to continue. The one thing that will matter more than ever is the real estate agents ability to handle these lending and appraisal issues now and in the future. Experienced agents will be better situated to handle issues to protect their clients. Always ask how experienced some one actually is.

DOES IT MATTER WHICH REALTOR I USE?  The short answer is YES. It matters. There is great difference from one agent to agent another though. All agents are not created equally. Bigger is not better. Experience matters. Choose the Best agent not the biggest. Choose experience over not experienced. Choose Local over National. Please support locally owned businesses 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. Let me show you there is a difference from one agent to another. 

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Welcome to our WEEKLY wrap up from Monday to Sunday of last week

MARKET REPORT FOR June 6, 2022 

There are 50 SINGLE FAMILY HOMES FOR SALE: The average Listed priced home is $380,533. The lowest priced home is $179,900. The highest priced home is $759,900.
 
There were 24 New Listings this week.
 
There are 143 SINGLE FAMILY HOMES UNDER CONTRACT
 
There are 12 SINGLE FAMILY HOMES CLOSED this week.
 
There are 256 SINGLE FAMILY HOMES SOLD 1/1/22 TO 6/6/2022. The average SALE PRICE is $389,472 The average DAYS ON MARKET is 10. 
 
 
 
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There are  18 CONDOMINIUM STYLE HOMES FOR SALE: The average priced home is $289,930. The lowest priced home is $139,000. The highest priced home is $449,900.

There were 5 New Listings this week. 
 
There are 56 CONDOMINIUM STYLE HOMES UNDER CONTRACT:  
 
There are 12 CONDOMINIUM STYLE HOMES CLOSED this week.
 
 
There are 157 CONDOMINIUM STYLE HOMES SOLD 1/1/22 TO 6/6/2022 - The average SALE PRICE is $260,888. The average DAYS ON MARKET is 17 
 
 
 
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There are 26 MULTI FAMILY HOMES FOR SALE: The average priced home is $867,160. The lowest priced home is $329,000. The highest priced home is $3,289,000. 
 
There are 49 MULTI FAMILY UNDER CONTRACT:
 
There are 8 MULTI FAMILY HOMES CLOSED this week.
 
There are 116 MULTI FAMILY HOMES SOLD 01/01/22 to 6/6/2022 The average SALE PRICE is $471,239. The average DAYS ON MARKET is 16. 
 
 
 
* Data from NNEREN, subject to change, error or omission

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The SECRET to success and the key to having a successful purchase of sale, can increase simply by choosing a better agent. The secret is, that All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest. I leave you with now infamous philosophy, which is simple, to provide more personal and professional service to guide my clients through each step of the buying or selling process.  

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

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