Ossipee 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. There were 79 homes sold in 2006 and they spent an average of 113 days on the market. 2007 saw 10 less homes sold at 69 and the time on the market went up three weeks to 139 days. While the recession had a firm hold in 2008, 67 homes sold and days on market went up another week to 145. The Federal Home Buyer Tax Credit was established to prop up a sagging market in 2009 and we saw 67 homes sold and days lessended at 122. In the last twelve months, 64 homes have sold and days on market is down to 116.
Ossipee NH Real Estate Average Sales Price
The average sales price in 2006 was $201,365 and rose 11% to $224,976 in 2007. A nasty plunge of 24% to $169,512 occured in 2008. Thank the recession. During the period our Federal Home Buyer Tax Credit was in effect, average price took another 17% hit in 2009 to $139,995. During the last twelve months, average price has climbed back 13% to 163,609.
Ossipee NH Market Trend
There is no doubt the now expired Federal Home Buyer Tax Credit had and effect on our markets. Unfortunately, the Tax Credit was an artificial component of the market and had it's un-intended and un-natural results. Shows us the government should stay out of our markets.
What does all this mean to Ossipee NH real estate? Buyers understand they have to act now to take advantage of the lowest interest rates in decades, reasonable home prices, and a large inventory of homes to chose from. The stats show that they are. There is a lot of upside potential for todays buyers compared to where average prices where only three years ago.
Is now a good time to buy Ossipee NH Real Estate? You bet! That's good news for sellers, too.
About The Author: This blog is provided by Marty Patrizi a Realtor with Virtual Homes Real Estate. Marty can be reached at 603-781-4099 or via email: firstname.lastname@example.org.
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