A New Year...
The total number of homes changing hands in the eleven towns listed came in at 42 in December of 2007 compared to 61 in December, 2006. Not a great finish to a not so great year for real estate as far as the number of sales are concerned. In Belknap County the total number of sales was off almost 14% this year compared to last year but the total sales volume was down only about 4%. This results in an actual increase in the average sales price for homes in the county increasing from $328,694 to $366,004. That is about an 11.5% increase. But don't get excited and think that prices are going up on your every day home.
This average price increase is due to a larger number of high end homes being sold compared to those in the lower priced tier. In 2006 there were 49 homes sold in Belknap County priced over $750,000. The total sales volume for those homes was about $65.8 million. In 2007 there were 68 homes sold that were priced over $750,000 with a total sales volume of almost $94.6 million. For homes below $750,000, the total number of sales as well as the sales volume dropped. In 2006 there were 789 homes sold totaling $209.7 million in sales. In 2007 there were only 657 homes sold for $170.8 million in sales. The average price for homes below $750,000 dropped slightly from $265,772 in 2006 to $259,904 in 2007.
What does this all mean? Is there a silver lining? Well, to me it means that the Lakes Region is still attracting high end buyers who want to live, retire, or vacation here. They are willing to spend large sums of money to purchase, remodel, or build new homes and that is great for our local economy. And as far as I can see, a drop in the average price for homes under $750,000 of only $5,800 is fantastic news compared to what we are hearing about in the rest of the country. So despite all the doom and gloom about housing and the financial markets, I am looking forward to the New Year knowing that we are indeed better off here in the Lakes Region than most areas. I also believe that armed with a little knowledge, help, and proper pricing that you will be able to sell your house in the New Year!
DECEMBER 2007 RESIDENTIAL SALES
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| 100 | 200 | 300 |
| AVG | MEDIAN | % SOLD | AVG |
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| TO | TO | TO |
| SELLING | SALES | TO | DOM |
TOWN | # S0LD | <100K | 200K | 300K | 400K | >400K | PRICE | PRICE | LIST $$ |
|
BELMONT | 4 | 0 | 2 | 1 | 0 | 1 | $284,250 | $198,500 | 94% | 81 |
CENTER HARBOR | 1 | 0 | 1 | 0 | 0 | 0 | $175,000 | $175,000 | 89% | 229 |
FRANKLIN | 3 | 0 | 3 | 0 | 0 | 0 | $161,953 | $167,500 | 98% | 103 |
GILFORD | 11 | 1 | 4 | 2 | 2 | 2 | $267,502 | $219,900 | 93% | 221 |
GILMANTON | 3 | 1 | 1 | 0 | 0 | 1 | $252,667 | $140,000 | 93% | 173 |
LACONIA | 8 | 0 | 5 | 0 | 2 | 1 | $264,395 | $181,762 | 95% | 156 |
MEREDITH | 4 | 0 | 2 | 1 | 0 | 1 | $445,125 | $202,750 | 90% | 208 |
MOULTONBORO | 5 | 0 | 1 | 0 | 0 | 4 | $951,550 | $750,000 | 94% | 227 |
NORTHFIELD | 0 | 0 | 0 | 0 | 0 | 0 | --------- | ---------- | ------- | ----- |
SANBORNTON | 2 | 0 | 1 | 1 | 0 | 0 | $225,500 | $225,500 | 95% | 114 |
TILTON | 1 | 0 | 1 | 0 | 0 | 0 | $178,500 | $178,500 | 96% | 140 |
TOTALS | 42 | 2 | 21 | 5 | 4 | 10 | $351,936 | $194,450 | 94% | 176 |
For additional reports, real estate news and information, Belknap County foreclosures, and a whole lot more visit www.lakesregionhome.com or www.lakesregionrealestatenews.com
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