Dover NH Homes Sold This Week Ending 11/19/2011
Two Dover NH homes sold this week lessening inventory by $225,000. 38 had successful offers and two listings are pending closing. Here is a look at the 250+ active listings for homes and condos in Dover => Current Dover Listings
This week's bargains:
$75,000 $150,000
Dover NH Homes Sold This Week Ending 11/19/2011
$144,230 $225,000
$257,000 Condo $150,000
Dover NH Homes Sold Week Ending 11/12/2011 => None
Dover NH Homes Sold Week Ending 11/5/2011
$150,000 $213,500
Single family detached condos were the best sellers this week
$271,733 $275,000 $325,000
Seven Dover NH homes sold week ending 10/29/2011
Mobile $75,000 $186,000 Ocean Views $197,010
$272,000 $320,000 $340,000
Condo $170,000
Dover NH homes sold week ending 10/22/2011
Four homes sold for $959,950 worth of inventory.
Waterfront $105,000 $221,000
$264,950 $369,000
Dover NH Homes Market Activity
Our first graph shows the number of Dover NH homes sold from January to October for the last four years. Our second graph is the history of average sales prices over the same time period and the third graph is the history of the average sales prices. The last graph depicts the median sales price. The median sales price is that which 50% of the sales are below this price and 50% are above this price.
It is said that the median sales price is a better indicator of home prices as the highest and lowest prices will not skew the data as much as average sales price is effected. The lowest priced Dover home sold so far this year was $50,000 and the highest sold was $1,190,000 and it sold in only 38 days.
Where Are Dover NH Homes Prices Headed?
The graphs tell us the story of an economy that headed south about as quick as a market could from 2008 to 2009. The news is not all as bad as we hear on the nightly news though. We are lucky not to have seen the fate that befell Nevada and Florida with some of the highest unemployment and foreclosure rates in the country. Average sales price is down almost 7% from 2008 and the median price is down 11%. On the bright side, Dover has sold 15% more homes than last year and they are selling 18% faster than in 2008.
What Does This Mean To Dover NH Homes?
Interest rates are low, inventory is high, and Dover NH Homes prices are low. It is obvious there has never been a better time for First Time Buyers to get into Dover NH homes and start building equity for themselves instead of renting. Move up buyers are in a better position to sell their homes to First Time Buyers and take advantage of the deals they can make on the move up home. We all know the economy over the last few years has had a detrimental effect on home values and the move up buyer may have to settle for a little less than what they would like. In turn, if home values have fallen 11% across the board, the savings on the move up buy is larger than what they would be giving up on the home they sell. The market is a little tougher for those who would like to down size.
The Down Side Of Interest rates?
Interest rates are at all time lows and if the interest rate bumps up only 1/4 of 1 percent, purchase power goes down by about $8,000. If you are a First Time Buyer, you should be looking to buy a home now! If you would like to move up to a bigger or better home, now is the time.
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.
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