New Hampshire Homes Real Estate Update - Newcastle, Greenland, North Hampton - Nov. 2008

The Seacoast areas of New Hampshire and Southern Maine are really very pretty areas, and we have a very diverse real estate market here.  Some towns have felt the downward turn in the real estate market more than others, and some have weathered it much better than areas around the country.

We always have a strong demand for NH homes and condos here in the Seacoast because of our location - we're right here along the Atlantic Ocean, and we're 45 minutes north of Boston, 45 minutes east of Manchester, and 45 minutes south of Portland Maine - all great cities with airport transportation for those needing it.  We are also just a little over an hour away from mountains for great winter snow skiing and other winter sports.

Here are Seacoast NH real estate updates for the month of November 2008:

Newcastle NH:

Homes for sale ---   12
Average Asking Price --- $1,299,750
Days on Market --  216 days
New Listings in Nov   --- 1

Homes Sold in Nov. ---  2
Average Sold Price  --  $2,000,000
Average Days on Market --  154 days
List to Sell Ratio   ---  90%

Homes Sale Pending/Under Agreement  ---  1
Average Asking Price   ---  $585,000
Days on Market  --  158 Days

2 listings expired in November

North Hampton New Hampshire:

Homes for sale  ---   54
Average Asking Price   ---  $686,677
Average Days on Market   ---  214 days
New Listings in Nov.   ----   6

Homes Sold in Nov ---   3
Average Sold Price  ---  $599,967
Average Days on Market    ---  262 days
List to Sell Ratio  ----   91%

Homes Sale Pending/Under Agreement in Nov.  --  2
Average Asking Price   ---- $467,000
Average Days on Market   ----   381

8 homes expired from the market without selling in North Hampton during November.

Greenland New Hampshire:

Homes for sale  ---   28
Average Asking Price  ---  $481,743
Average Days on the Market  ---  147
New Listings in Nov.   ---   3

Homes Sold in Nov.  ---   3
Average Sold Price  ---  $273,433
Average Days on the Market ---  64 days
List to Sell Ratio  ---97%

Homes Sale Pending/Under Agreement in Nov.  ---  3
Average Asking Price  ---  $354,600
Average Days on the Market ---  104 days

4 homes expired in Greenland without selling during November.

Homes generally expire from the market without selling because they weren't priced properly for the market and/or for the condition that the home or condo was in.  Buyers just don't see them as a good value for the money, so they move on to the properties that are price properly.

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 Greenland, North Hampton, and New Castle NH to be absorbed by the market if no other homes come on the market.  The absorption rate for November 2008 in Newcastle NH was 6 months, North Hampton's absorption rate was 18 months, and for Greenland it was just over 9 months.  If you want your home sold, you need to know this number to help you price your home accordingly.

Are you a homeowner in the New Hampshire or Maine Seacoast area you're thinking about seling your home or condo?  If so, call me today at 888-349-5678 x 3839, or send me an email at ann@anncummings.com, and let's talk real estate!

Related Reading:

Seacoast New Hampshire Real Estate Market Reports
Absorption Rates and Why They're Important to Know

Servicing homeowners and home buyers in the New Hampshire towns of Portsmouth, Newcastle, Rye, North Hampton, Hampton, Stratham, Exeter, Greenland, Newington, Dover, Durham and surrounding areas, and the Maine towns of Kittery, Kittery Point, Eliot, South Berwick, York, and surrounding areas.