Wolfeboro, New Hampshire’s 1st Quarter of 2010

Showing Signs of Increased Market Activity and a Recovery in Market Values

Many of the measurable market trends noted in 2009 have seen a significant change with some more promising indicators throughout the 1^st quarter of 2010.  Could the overall market be improving?  Let’s take a closer look…

In the 1^st quarter of 2009 the Wolfeboro market area reported (all properties) a total of 128 new listings, 64 back on the market and 26 pending sales.  124 listing expired prior to a sale, 43 were withdrawn and 21 resulted in a successful close/transfer.  The average marketing exposure time averaged better than 10 months, the average SOLD price $251,089., and the average MEDIAN price was $244,687.

1^st quarter in 2010 Wolfeboro is showing some positive signs of change in all market reports… Wolfeboro reported a total of 179 new listings, 45 back on the market and 23 pending sales.  128 listings expired prior to a sale, 38 were withdrawn and 34 properties resulted in a successful close/transfer.  The average marketing exposure time averaged 5-6 months, the average SOLD price $549,667., and the average MEDIAN price was reported as $256,762.

2009 vs. 2010 (1^st Quarter Residential, Condominium, Commercial & Vacant Land))

• Market inventory increased +39.8%
• Back on the market listings showed an increase of +4.6%
• Available properties under contract decreased -11.5%
• Properties that didn’t sell increased +3.2%
• Properties withdrawn from the market decreased -11.6%
• Properties that SOLD up +61.9%
• Days on the market decreased 4-5 months
• Average SOLD price increased by +119%, (strongest market gain in 3 years)
• Average MEDIAN value also increased by +4.5%

In the 1^st quarter of 2009 the Wolfeboro market area reported (residential properties) a total of 81 new listings, 34 back on the market and 22 pending sales.  67 listing expired prior to a sale, 29 were withdrawn and 17 resulted in a successful close/transfer.  The average marketing exposure time averaged better than 7-8 months, the average SOLD price $263,800., and the average MEDIAN price was $262,500.

1^st quarter in 2010 Wolfeboro is showing some positive signs of change in all market reports… Wolfeboro reported a total of 102 new listings, 31 back on the market and 17 pending sales.  79 listings expired prior to a sale, 20 were withdrawn and 24 properties resulted in a successful close/transfer.  The average marketing exposure time averaged 4-5 months, the average SOLD price $708,774., and the average MEDIAN price was reported as $436,500.

2009 vs. 2010 (1^st Quarter Residential)

• Residential inventory increased +25.9%
• Back on the market listings showed a decrease of -8.8%
• Available residences under contract decreased -22.7%
• Homes that didn’t sell +17.9%
• Residential homes withdrawn from the market decreased -31%
• Homes that SOLD up +41.1%
• Days on the market decreased by 2-3 months
• Average SOLD price increased by +168.6%, (strongest market gain in 3 years)
• Average MEDIAN value also increased by +66.2%

Wolfeboro’s new listings reflect an increase in overall inventory… the good news is CLOSED SALES are up 41% to 62% over 2009 and the time it takes to realize a success sale has been cut in half.  Average SOLD prices have increased by 119% to 168%.  Good news for Wolfeboro and the Lakes Region.

Based on information from the Northern New England Real Estate Network, Inc. for the period January 1, 2009 to April 30, 2009 & January 1, 2010 to April 30, 2010.

Contributed by Kathleen M. Kizer, REALTOR, ABR, GRI, ePRO, Associate Broker | Costantino Real Estate, LLC. “Your Lakes Region Professional” | Certified Residential Appraiser, NHCR-616, Wolfeboro Appraisal Services 

For further inquiries or questions please e-mail to Kathleen@LakesRegionBroker.com or call 603-539-3200.