Epsom NH Real Estate Report August 2010

Epsom NH Real Estate Report August 2010

We are taking a look at homes sold data for the last four years verses the last twelve months to determine where the market is headed.  In 2006, 53 homes were sold with average days on the market at 119.  For 2007, 24% less homes sold with 40 and days on market dipped to 111.  In 2008, with the recession in full bloom, 40 homes sold again and days on market were slightly less again at 107.  While the Federal Home Buyer Tax Credit was established to prop up a sagging market, less homes sold with 37 and days on market increased significantly to 125.

Epsom NH Real Estate Average Sales Price

Average sales price in 2006 was $288,643 and dumped 15% to $244,714 in 2007.  2008's average price fell again 10% to $218,677.  In 2009, average sales price sagged 9% to $198,515.

Epsom NH Real Estate Market Trend

In the last twelve months we have seen 13% more homes sold at 42 with a significant increase in days on market to 142 days with average price climbing 10% to $219,490.  Indications are the demand is higher but buyers are being more careful.  When comparing prices to levels of only four years ago, Epsom home prices present a good investment. 

Buyers understand that the lowest interest rates in decades, reasonable home prices, and lots of inventory is pushing their purchase power to its peak.  Investment Strategy 101: buy low, sell high.  Epsom is poised for real equity gains in the near future for today's buyers.

Is now a good time to buy Epson NH Real Estate?  You bet!  That's good news for sellers, too.

For more insight and other real estate resources, visit my website.

Your comments on this study are welcome, thank you for your attention.