This Week In Dover Real Estate July 12 2014

By
Real Estate Agent with The Bean Group

What’s The Deal In Dover?

dover real estateDover Real Estate has busted out of the doldrums in a huge way and seems to be one of the fastest growing communities in New Hampshire.  We gauge demand by the average days on market (DOM) for sold listings.  We see that demand grew 35% last year and is still cooking at 81 DOM.  Sales really took off in 2012 and have been steady since.  If you have seen any of my previous Market Reports, you know we have been lamenting the lack of inventory last year.  Good news for buyers: new listings are up 17% this year.

dover real estate

Dover Real Estate vs Portsmouth Real Estate

The demand for Dover Real Estate is bolstered by the demand for Portsmouth Real Estate.  What I mean by that is buyers who have been looking in Portsmouth realize they have to have pretty deep pockets to afford to live in Portsmouth.   For the same money they would spend in Portsmouth, they can buy more home in Dover.  They get great schools, a vibrant down, and Portsmouth is just 10 minutes over the Piscataqua bridge.

dover homes for sale

Dover Real Estate Price Trends

The demand for Dover Real Estate has influenced prices.  The laws of supply and demand kick in and we are seeing prices increase.  Median Sales Price is up 15% since 2011.  Dover real estate values are still down about 11% from our most recent peak when Median Sales Price was $298,000 at this time in 2007.  So if you are thinking its about time to stop lining your landlord’s pockets or if you are looking to make a move to a newer or larger home, use this link to see all => Dover Homes For Sale  By the way all you move up buyers, we need your home.  50% of our market is first time buyers.

Is Now A Good Time To Buy Dover Real Estate?

You better not wait.  Prices are on the way up and they don’t appear to be leveling off any time soon.  The driving factor affecting affordability is mortgage rates.  Rates will be going up, we just can’t predict when.  Here is a comparison of the last 52 weeks of mortgage rate history vs the last 52 years.  Even though rates are up about a point from a year ago, they are still at the lowest levels of our lifetimes.  Keep in mind a 1/2 of 1% (+0.5%) rise in the mortgage rate can mean as much as $15,000 less purchase power.  Want to know your options? => 8 Best Ideas for Home Financing

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 Congratulations to This Week’s Dover Buyers and Sellers

Take a look at these Dover homes sold week ending 7/12/2014

dover real estate
$269,900 437 Middle, Dover, NH 03820  
3 bd 2 bath DOM : 40 Days 1,650 Sqft
MLS # 4359230  
View details
dover real estate
$179,900 13 Crescent, Dover, NH 03820  
2 bd 1 bath DOM : 53 Days 1,000 Sqft
MLS # 4356114  
View details
dover homes for sale
$290,000 51 Willow Street, Dover, NH 03820  
3 bd 3 bath DOM : 66 Days 2,240 Sqft
MLS # 4352205  
View details
homes for sale dover nh
$179,900 12 Brick Rd, Dover, NH 03820  
2 bd 2 bath DOM : 90 Days 1,210 Sqft
MLS # 4346633  
View details
dover real estate report
$189,900 104 Court, Dover, NH 03820  
2 bd 1 bath DOM : 167 Days 1,157 Sqft
MLS # 4333458  
View details
three bedroom homes for sale dover nh
$285,900 15 Sandra’s Run, Dover, NH 03820  
3 bd 3 bath DOM : 182 Days 1,768 Sqft
MLS # 4330900  
View details
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avatarThis Report is Brought to you by Marty Patrizi, Realtor at the Bean Group.

For more information about real estate in the NH Seacoast and Lakes Regions, call me directly at 603-781-4099 or email me at marty.patrizi@beangroup.com.

See what Marty's clients are saying => Testimonials

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