Hampton NH Homes And Condos Selling At 95%

Here is a look at some market data for Hampton NH homes and condos from January to October for the last four years.  This year Hampton NH homes and condos are selling at 95% of asking price.  In 2008 they were selling at 94%, 2009 96% 2010 97%.  Looking at the number of homes sold and the average time Hampton NH homes and condos take to sell, we see that the number of Hampton NH homes and condos sold have fallen off almost 12% from the high of 2009.

Today, it takes about two weeks longer to sell a Hampton NH home or condo than it did in 2008.  That's not really significant but when you are trying to sell, 22 weeks is an eternity.

Average Sales Price For Hampton NH Homes Verses Median Sales Price

When we look at the average sales price for Hampton NH Homes, we understand that average sales prices are down almost 11% from 2008's high.  What does this mean when compared to the Hampton NH homes median sales price.  The median sales price is the price in the middle of the data.  50% of the sales are above this price and 50% are below.

Whereas some Hampton NH homes can be waterfront and therefore pricey and some Hampton NH homes are inland and may be more affordable, those extremes can affect the average sales price quite a lot.  A one million dollar sale can skew the data.  Since the median sales price is in the middle of the data, that million dollar home doesn't have the same effect giving the medial sales price more credibility when trying to gauge where the market trends are.

Where Are Hampton NH Home And Condo Prices Headed?

Average sales prices have leveled out for the last three years as well as median home prices.  The interesting factor here is that while average sales prices were declining in 2009, median sales prices were increasing.  Why?  Because savy home buyers were taking advantage of the higher priced homes selling at more depressed prices than lower priced homes.  More affluent owners were scared and settling for far less than their asking prices.   In this last year, we are seeing the price trends of both spectrums reversing again.   Average sales price are gaining and median sales prices are falling giving us indication that the deals are in the lower spectrum of home prices.  Hampton NH homes are more affordable now than last year, period.

Is Now A Good Time to Buy Hampton NH Homes and Condos?

Interest rates are at the lowest levels I've seen in my lifetime of fifty-one years and average home prices and median home prices are comparatively low.   So, yes, now is a good time to buy Hampton NH homes and condos.  Here is a look at the 250+ Hampton NH homes and condos for sale today => Current Available Hampton NH Homes and Condos.  In the month of October, 33 new listings came to market, 21 had successful offers, 10 are pending, and 25 homes and condos worth $5,713,500 sold.  Get in while the getting is good.

 About the Author:

Marty Patrizi is a full service New Hampshire Realtor at Virtual Homes, Inc. and his emphasis is on "service".  Marty works as a Buyer's Agent and a Listing Agent.  Marty is also a building and renovation Contractor since 1988.  As a buyer's agent, Marty's extensive construction experience puts him ahead of other buyer agents because he has the ability to determine value and costs related to repairs and updates needed.  As a seller's agent, he knows that buyers come from searching on line and how to generate more qualified buyers through maximum exposure of his client's properties on the internet.  Marty can be reached direct at 603-781-4099 or by email marty.patrizi@virtualhomes.com.