Rye NH Real Estate Market Update - Rye New Hampshire Homes for November 2008
Rye New Hampshire is a lovely slice of NH beauty right along the coastline. Rye has rocky coastline and sandy beaches, as well as beautiful inland areas. We have some gorgeouse new construction and newer homes right alongside antique farmhouses, and we have seasonal cottages, too.
The real estate market in Rye NH has been like many other NH and Maine Seacoast towns here in this area, up and down. Like everywhere else, everyone always wants to know how the real estate market is, here in Rye and all along the Seacoast areas. Real estate impacts so many facets of the local economy, and many use that as a gauge for how things are now and where they might be going in the near future.
Rye NH homes real estate market for the month of November:
Rye currently has 63 homes for sale through the Multiple Listing Service (MLS), and 5 of those homes were new to the market in November. The average asking price is $1,191,994, and the average days on the market for those homes for sale has been 231 days.
During the month of November, we saw 2 Rye NH homes go sale pending/under agreement. The average asking price of those homes was $342,950, and the average days on the market was 48 days for those homes.
Four homes in Rye sold/closed during November, and the average selling price of those homes that sold was $526,175, with the average total days on the market for those homes being 56 days. Those sellers who sold their homes in Rye during November received 96% of their last asking prices.
We saw 9 homes in Rye expire from the market without selling. The main reason homes don't sell during their listing period is they were priced incorrectly for the market and/or condition of the home. And most likely, these 9 homes didn't sell because they weren't priced correctly, and buyers didn't see them as a good value for the money.
If you're thinking about selling your home, one very important fact to know about your market is the absorption rate. The absorption rate will tell you how long it will take for the current inventory of homes in Rye NH to be absorbed by the market if no other homes come on the market. The absorption rate for November 2008 was just under 11 months, which is a little higher than October and a little less than September. If you want your home sold, you need to know this number to help you price your home accordingly.
Are you thinking about making Rye New Hampshire or any of the surrounding Seacoast areas your home? Call me today at 888-349-5678 x 3839, or send me an email at email@example.com, and let's talk real estate!
-- Servicing the New Hampshire Seacoast towns of - Portsmouth, Newcastle, Rye, North Hampton, Hampton, Stratham, Exeter, Greenland, Newington, Dover, and surrounding areas.
-- Servicing the southeastern Maine towns of - Kittery, Kittery Point, Eliot, York, South Berwick, and the surrounding areas.