Sandown 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, 84 homes were sold and spent an average of 124 days on market. 2007 saw 20 less homes sold at 64 with days on market up to 148. 2008 saw 65 homes sold and average days bumped up to a whopping 181 days. While the Federal Home Buyer Tax Credit was established to prop up a sagging national market in 2009, 71 homes were sold and those homes were taking longer to sell at 187 days. In the last twelve months, 99 homes were sold at an average of 115 days on market. More homes have sold in less time since the Tax Credit has expired.
Sandown NH Real Estate Average Sales Price
The average sales price was $308,327 in 2006 and posted a 3.5% decline to $297,597 in 2007. 2008 saw a precipitous 17% plunge to $246,949 while 2009's average price dipped again 6.3% to $231,327. In the last twelve months average price has picked up 1.2% to $234,210. This isn't a huge increase but at least average price is heading in the right direction for those who purchase today.
Sandown NH Real Estate Trend
There is no doubt the now expired Federal Home Buyer Tax Credit had an effect on our market. Unfortuantely, the Tax Credit was an artificial component of the market and had it's un-natural results.
Comparing prices from just four years ago to todays prices, Sandown NH Real Estate gives todays buyers an excellent opportuanity to gain a lot of equity in the near future.
There are currently 72 homes and condos on the market in Sandown. Buyers understand they have to act now to take advantage of the lowest interest rates in decades, reasonable home prices, and lots of inventory.
Is now a good time to buy Sandown 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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