Manchester NH Real Estate Market REPORT June 27, 2022

New trends are arising in our Real Estate Market. The amount of new single family homes "For Sale" is up sharply. Interest rates rose again. The amount of both single family and condominiums that are "Sale Pending" both went down for the first time.  Sadly this is the plan as stated by the government to slow the economy. We are seeing houses stay on the market longer and seeing more price reductions in some areas. Values in the Condo Market are now stationary while single families have a slight rise. 

WHAT SHOULD YOU KNOW? The first thing you should know is a "CRASH" like we saw in 2007-2008 is not on the horizon. Let me tell you why... Banks are still lending money. Banks are not going out of business like 2007. Then most important is there is no wave of immediate Foreclosures to tank the market.

WHAT SHOULD YOU DO? If you were thinking of Buying or Selling a home, do not wait. Prices are different from area to area. The most desired areas are seeing values holding steady to still rising in some areas. With interest rates rising your buying power is going down. The most important thing is do not hire just anyone to assist you with your real estate needs. You may hear me say
"Not all agents are created equal." Not all agents are experienced to have worked in this type of market. You can only get experience by doing, they can not teach it to you through any online class. We still see people over pricing homes in this market to only go unsold. 

For those LOOKING TO SELL THEIR HOME. If you are thinking of selling this year, now is the time. Contact me to learn what your home is worth in today's market. We are seeing an increase in unsold homes and sellers are completely unaware what is really happening with our market.

For HOME BUYERS, yes interest rates have come up, but it could cost less to buy now than it will in the future with the promise of more interest rate hikes by the fed. Contacting me to get started in the buying process can save you money, time and stress. Lets start by saying it can cost a heck of a lot less to own a home than rent the same home. Banks are getting tougher meaning it may be easier to get a mortgage now than in the future. With an increase in new listings, buyers have a good choice of homes to see. There are ways to get a lower rate.  

DOES IT MATTER WHICH REALTOR I USE?  The short answer is YES. It matters. There is great difference from one agent to agent another though. All agents are not created equally. Bigger is not better. Experience matters. Choose the Best agent not the biggest. Choose experience over not experienced. Choose Local over National. Please support locally owned businesses and chose us, your home town Realtor for 35 years who offers some of the most personal and professional service there can be. We stand by you through each step of the buying or selling process. Let me show you there is a difference from one agent to another. 

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Welcome to our WEEKLY wrap up from Monday to Sunday of last week

MARKET REPORT FOR June 27, 2022 

There are 54 SINGLE FAMILY HOMES FOR SALE: The average Listed priced home is $380,533. The lowest priced home is $179,900. The highest priced home is $759,900.
 
There were 21 New Listings this week.
 
There are 140 SINGLE FAMILY HOMES UNDER CONTRACT
 
There are 23 SINGLE FAMILY HOMES CLOSED this week.
 
There are 318 SINGLE FAMILY HOMES SOLD 1/1/22 TO 6/27/2022. The average SALE PRICE is $396,504 The average DAYS ON MARKET is 9. 
 
 
 
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There are  23 CONDOMINIUM STYLE HOMES FOR SALE: The average priced home is $289,930. The lowest priced home is $139,000. The highest priced home is $449,900.

There were 8 New Listings this week. 
 
There are 58 CONDOMINIUM STYLE HOMES UNDER CONTRACT:  
 
There are 5 CONDOMINIUM STYLE HOMES CLOSED this week.
 
 
There are 178 CONDOMINIUM STYLE HOMES SOLD 1/1/22 TO 6/27/2022 - The average SALE PRICE is $260,617. The average DAYS ON MARKET is 15
 
 
 
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There are 27 MULTI FAMILY HOMES FOR SALE: The average priced home is $867,160. The lowest priced home is $329,000. The highest priced home is $3,289,000. 
 
There are 50 MULTI FAMILY UNDER CONTRACT:
 
There are 2 MULTI FAMILY HOMES CLOSED this week.
 
There are 132 MULTI FAMILY HOMES SOLD 01/01/22 to 6/27/2022 The average SALE PRICE is $471,239. The average DAYS ON MARKET is 16. 
 
 
 
* Data from NNEREN, subject to change, error or omission

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The SECRET to success and the key to having a successful purchase of sale, can increase simply by choosing a better agent. The secret is, that All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest. I leave you with now infamous philosophy, which is simple, to provide more personal and professional service to guide my clients through each step of the buying or selling process.  

PLEASE CALL US FOR A FREE MARKET ANALYSIS TO SEE WHAT YOUR HOME IS WORTH.

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