I decided to do some comparative research on 3 NH Lakes Region towns, Barrington, NH, Rochester, NH and Farmington, NH and see if I could attribute any kind of correlation between geographic areas and home sales in an effort to see if sales are being affected by gas prices. The data I came up with is as follows:
Period: Quarters 1& 2 of 2007
|
Town
|
Units Sold
|
Pending Sales
|
New Listings
|
|
Barrington
|
47
|
5
|
80
|
|
Rochester
|
139
|
13
|
298
|
|
Farmington
|
37
|
2
|
80
|
VS.
Period: Quarters 1& 2 of 2008
|
Town
|
Units Sold
|
Pending Sales
|
New Listings
|
|
Barrington
|
45
|
5
|
127
|
|
Rochester
|
103
|
13
|
284
|
|
Farmington
|
24
|
2
|
77
|
Total Results (Q1&2 of 2007 vs. 2008):
Farmington: Down 46%
Rochester: Down 26%
Barrington: Down 4.3%
Conclusion:
Given that most people who live in all 3 of these NH towns do not work there and most commute to points south such as Dover, Portsmouth etc., it's easy to see that the more Northerly we go, the more affected home sales seem to be. These towns are shown on the map below as the following. Farmington "A", Rochester "B", Barrington "C", Portsmouth "D".
That said, it would seem as though people are giving much more consideration to location as it relates to daily drive time when considering to buy a home in the NH Lakes Region and NH Seacoast areas.
For information about NH Seacoast & NH Lakes Region towns and Real Estate, please feel free to visit my website at www.RobGagnon.com
Written by:
Robert Gagnon
Associate Broker
RE/MAX Executives
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