Strafford NH Real Estate Report October 2010

Strafford NH Real Estate Report October 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.  Our first graph looks at the number of homes sold while the second chart shows the average length of time those homes spent on the market.  There were 36 homes sold in 2006 with 100 days on market. 42 homes sold in 2007 with 104 days on market, showing a 16% increase in homes sold and 4% more time on the market.  While the recession was entenched in 2008 35% less homes sold at only 27 with days shortening to 97.  While the Federal Home Buyer Tax Credit was established to prop up a sagging national market in 2009, homes sold fell to 22 and days on market fell also to 93.  In the last twelve months, 41 homes have sold in a lenghty 131 days.

Strafford NH Average Sales Price

The average sales price in 2006 was $272,486 and fell 5% to $258,678 in 2007.  2008's average sales price dropped again 8% to $236,656 and dipped agian 5% in 2009 to $223,914.  In the last twelve months average sales price has picked up 10% to $246,615.  Comparing Strafford's ASP chart with the State's ASP chart we can see that Strafford's average sales price has performed better tha the State's.

Strafford NH Market Trend

There is no doubt the now expired Federal Home Buyer Tax Credit had an effect on our market.  The Tax Credit was an artificial component of the market and had it's un-natural and un-intended results.  Now that the markets are free again, they can ebb and flow naturally.

Looking at average sales prices from only four years ago, there is a lot of upside potential for buyers to gain real equity.  Buyers understand they have to act now to take advantage of the best interest rates in decades, reasonable home prices, and a good inventory to choose from.

Is now a good time to buy Strafford NH Real Estate?  You bet!  It's a good time to buy real estate period.  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: marty.patrizi@virtualhomes.com.  

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