Manchester NH Real Estate Market REPORT Nov. 14, 2022

By
Real Estate Broker/Owner with Godzyk Real Estate Services NH License 033394
We saw some new changes to the market last week where interest rates actually came down from 7.2% to 6.6% on average, Interest rates change daily and are based on your credit, The amount of new listings coming on the market also decreased last week. The amount of homes placed under contract actually rose slightly last week. The amount of multi family homes on the market dropped sharply last week.
 
Many homes that have been on the market a while are seeing price reductions. However, We are seeing new listing prices all over the place. Some homes are being listed over priced and some new listings are actually under priced. Yes, you read that correct. Some sellers and their agents are listing their houses lower than they should be. Selling prices are highly affected by both Location and condition. This is when a home owners choice in agent really matters. A local well experienced agent should be able to be more realistic in pricing your property and tell you both how and why they came yo with that value range. You do not need fancy reports or selling scores, you need a realistic price and plan how to get the home sold quickly and the best obtainable price.
 
The two facts are that buyers are still buying and sellers are still selling. Buyers are realizing it can be cheaper to Buy than to rent. Rents in our area are still rising very sharply, Many do not realize the factors that are pulling rents higher. Rising inflation, rising property taxes, near doubling of some insurance, rising interest rates, rising maintenance costs. With such a shortage of apartments, rents will continue upward.
 
 
You as a consumer have a choice and before rushing into hiring just anyone. You should know that not all agents are created the same. Experience matters more than ever as the market changes. Knowing what to expect next. Knowing how to approach these changes. Knowing how to better guide you as a buyer or seller through these changes matters and comes with experience. Hiring an experienced agent like me who can navigate the market changes with you should be a must. There are so many agents. SO many new agents and so many who have not ever experienced a market change in the last 10 years. Listing with a well experienced agent matters and it should matter in your choice of who you hire.
 
 
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Welcome to our WEEKLY wrap up from Monday to Sunday of last week
MARKET REPORT FOR Nov 14, 2022
 
There are 51 SINGLE FAMILY HOMES FOR SALE: The average Listed priced home is $465,208. 483,815. The lowest priced home is $245,000. The highest priced home is $899,000. The average DAYS ON MARKET is 38
There were 7 New Listings this week.
There are 81 SINGLE FAMILY HOMES UNDER CONTRACT
There are 9 SINGLE FAMILY HOMES CLOSED this week.
There are 699 SINGLE FAMILY HOMES SOLD 1/1/22 TO 11/14/2022. The average SALE PRICE is $407,579 The average DAYS ON MARKET is 11.
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There are 25 CONDOMINIUM STYLE HOMES FOR SALE: The average priced home is $289,930. The lowest priced home is $144,900. The highest priced home is $750,000. The average DAYS ON MARKET is 29
There were 6 New Listings this week.
There are 39 CONDOMINIUM STYLE HOMES UNDER CONTRACT:
There are 3 CONDOMINIUM STYLE HOMES CLOSED this week.
There are 372 CONDOMINIUM STYLE HOMES SOLD 1/1/22 TO 11/14/2022 - The average SALE PRICE is $267,204. The average DAYS ON MARKET is 12
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There are 13 MULTI FAMILY HOMES FOR SALE: The average priced home is $624,670. The lowest priced home is $315,900. The highest priced home is $3,589,000.
There are 31 MULTI FAMILY UNDER CONTRACT:
There are 2 MULTI FAMILY HOMES CLOSED this week.
There are 253 MULTI FAMILY HOMES SOLD 01/01/22 to 11/14/2022 The average SALE PRICE is $502,001. The average DAYS ON MARKET is 17.
* Data from NNEREN, subject to change, error or omission
 
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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 37 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.
 
The amount of homes in Foreclosure has risen. If you are behind in your mortgage you have choices right now. We can explain what options may be available to you if you are behind in your mortgage. We also have an increase in divorce listings and Estate sales.
 
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 37 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.
You can search for Manchester area Homes For Sale by going to www.ScottSellsNH.com
 

Comments (3)

Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Thank you for posting.  i enjoyed the read.  Have a wonderful Monday and sell a house. Bill 

Nov 14, 2022 05:45 AM
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Selling the Main Line & Chester County

Great information as usual. Yes, you are correct hiring the right agent is important and I am always staggered how some agents get hired when you look at their record. 

Nov 14, 2022 12:54 PM
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Thanks for sharing your market update with us. Buyers & sellers in your area would benefit from your services. Have a great day!

 

Nov 18, 2022 06:21 PM