Barnstead NH Real Estate Report September 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 Barnstead. There were 101 homes sold in 2006 and they were on the market an average of 96 days. In 2007, 78 homes sold and days on market climbed to 123 days. While the recession was in full bloom only 67 homes sold and spent 121 days on the market. While the Federal Home Buyer Tax Credit was established to prop up a sagging market in 2009, 73 homes sold and were on the market for 132 days. In the last twelve months 77 homes have sold and were on the market only 96 days.
Barnstead NH Real Estate Average Sales Price
The average sales price in was $223,612 in 2006 and rose 2.2% to $228,519 in 2007. 2008's average price fell 20% to $183,132 and 2009 saw another plunge of 24% to $139,152. In the last twelve months average price has made an incredible 23% comback to $171,660. Comparing Barnstead's ASP chart on the left to the State's ASP chart on the right, Barnstead's market has suffered deeper and bounced back better than State.
Barnstead NH Real Estate Trend
There is no doubt the now expired Federal Home Buyer Tax Credit had an effect on our markets. Unfortunately, the Tax Credit was an artificial component of the market and had it's un-natural results. As the market returns to normal, we see activity up and average prices are along for the ride. Comparing todays prices with those of 2007, there is a lot of upside potential for real equity gains in the near futue.
Investment Strategy 101: buy low, sell high. There are currently 101 homes and condos on the market in Barnstead as of 9-14-2010. 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 Barnstead NH Real Estate? You bet! That's goog news for sellers, too.
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