Lets look at how the NH Real Estate Market changed from 2021 vs 2022

By
Real Estate Broker/Owner with Godzyk Real Estate Services NH License 033394

Every one is saying the Real Estate Market us changing. To see trends lets look at SALES in Manchester NH for the first half of 2021 VS the first half of 2022. The amount of SINGLE FAMILY Home sales is nearly the same with 1 more sale in 2021 over 2022. The biggest change in 2022 is that HOUSES INCREASED $53,000 on average in 2022 over 2021. 

 

.The amount of CONDOMINIUM sales shows 32 less sales in 2022 from 2021. The biggest change in 2022 is that HOUSES INCREASED $36,000 on average in 2022 over 2021. 

 

WHAT SHOULD YOU EXPECT FOR THE 2ND HALF OF 2022? Interest rates will continue to rise. It means buyers can buy less of a home if you wait. The amount of homes on the market is increasing. Sales have stayed strong in single family but are decreasing with Condos. In the Single Family market expect prices to rise slightly. You must know, that a "CRASH" like we saw in 2007-2008 is not on the horizon. Let me tell you why... Banks are still lending money unlike 2007. Banks are not going out of business like 2007. Then most important note, is that 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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LETS TAKE A LOOK AT THE STATS

MARKET REPORT FOR 1/1/21 to 6/30/21 VS 1/1/22 yo 6/30/22  

 

There was 347 SINGLE FAMILY HOMES FOR SALE 1/1/21 to 6/30/21:

The average SALES PRICE in 2021 was $346,558. 
 
The average DAYS IN MARKET in 2021 was 12.

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There was 346 SINGLE FAMILY HOMES FOR SALE 1/1/22 to 6/30/22

The average SALES PRICE in 2022 was $399,923. 
 
The average DAYS IN MARKET in 2022 was 10. 


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There was 223 CONDOMINIUMS FOR SALE 1/1/21 to 6/30/21:

The average SALES PRICE in 2021 was $224,022. 
 
The average DAYS IN MARKET in 2021 was 17.

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 There was 191 CONDOMINIUMS FOR SALE 1/1/22 to 6/30/22

The average SALES PRICE in 2022 was $260,659. 
 
The average DAYS IN MARKET in 2022 was 14. 


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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.

 

 

To CONTACT Scott Godzyk please call 603.661.2121 or EMAIL: Sctprop@aol.com .

 

About the Author: Scott Godzyk is the Owner/Broker of the Godzyk Real Estate Services in Manchester NH. Proud to be locally owned and operated with 35 years of experience, Scott is a leading Agent for Listing and Selling Homes in this area. We are Full Time Agents ready to serve all of your Real Estate needs. Servicing Hillsborough, Rockingham, Merrimack and Belknap counties. 

 

    

 

#Manchester #RealEstate #ScottSellsNHdotCOM #ScottSellsNH

Comments (6)

Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

New Hampshire home buyers and sellers are sure to value your real estate market report, Scott.

Jul 02, 2022 08:15 PM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Scott - I remember times of rising interest and selling and found that the sense of urgency on the part of buyers and also sellers increased.

Jul 03, 2022 03:14 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

Your tips are right on the mark - if you want to buy or sell, do it now!

Jul 03, 2022 04:44 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Thank you for the great information in your blog today to share with us here on the Rain.  Make it a great day! bill

Jul 03, 2022 05:33 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Scott. Now is the time to get qualified and purchase if interest rates are a concern. Prospective buyers should do it immediately. Need to sell, avoid the rush and the competition. Call Scott today. Enjoy your day.

Jul 03, 2022 05:43 AM
Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Great information.   Thanks for sharing and enjoy the holiday!

Jul 04, 2022 07:47 AM