Windham NH Real Estate Report August 2010
We are looking at homes sold data for the last four years verses the last twelve months to determine the state of the market. In 2006 204 homes were sold and were on the market an average of 133 days. 2007 saw less homes sold at 197 and average days on market grew to 157. While the recession was fully entrenched in 2008, only 167 homes sold and average days edged up to 161. The Federal Home Buyer Tax Credit was established in 2009 to prop up a sagging national market and a few more homes were sold at 172 and average days remained steady at 159.
Windham NH Real Estate Average Sales Price
The average sales price in 2006 was $501,055 and gave up 7.7% of its value in 2007 to $462,235. 2008's average price dropped another 7.3% to $428,297 while another plunge of 8.1% to $393,377. There is no doubt the now expired Federal Home Buyer Tax Credit had an effect on our market. Unfortunately, the Tax Credit was an artificial component of the market and had its un-natural results.
Windham NH Real Estate Market Trend
In the last twelve months we have seen the number of homes rise 28% to 220 with average days turning in a respectable 124 and average sales price has slipped only 1% to $389,669. When compared to prices of 2006 and looking at todays average price, one can say that Windham NH Real Estate is poised to give today's buyers an excellent opportunity to acheive equity gains in the NEAR future.
Buyers understand they have to act now to take advantage of the lowest interest rates iin decades, reasonable home prices, and lots of inventory. This would explain the increase in activity in the last twelve months.
Investment Strategy 101: Buy Low, Sell High. Is now a good time to buy Wiindham NH Real Estate? You bet! That's good news for sellers, too.
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Thank you for your attention and your comments on this study are welcome.
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