The Local Real Estate Market shocked us once again as the amount of new single family homes coming on the market dropped nearly 300%. Interest rates nudged downward with the brightest stat being the amount of homes going under contract increased this week over last week. Looking at how many homes are for sale, the number dropped 27% to only 44 single family homes for sale right now in Manchester NH
Today we want to talk about asking prices. Many homes that have been on the market a while have dropped in price. Looking at new listings we are seeing 3 trends. Those who price the home at actual market price. Then there are those over pricing their home from the start. On the flip side we are seeing people under pricing their home, not really knowing what their home was worth in today's market. The lesson is that Buyers need to assess what the home is worth in today's market to know what they should offer on the home they may want to buy. Some buyers are making ultra low offers losing out to those making sensible offers at market price. Then the buyers wonder why their offer was not accepted.
The KEY TIP is the Location and condition of the property. The better the location and better the condition means that the value of that home will be higher reflecting both. The best deals are on homes needing the most work. On the flip side many potential buyers look at the cost of renting vs buying, rents can be 1.5 to 2 times or more than a mortgage payment and taxes. Add on a shortage of rentals, it can be said it is easier to find a home to buy then to rent.
Please remember, the market is not changing, it has already changed. What you see on TV is not always real. That if you want a better outcome in Real Estate, you need to remember that Experience matters in this market. Every day should be "Shop Local" and that means your choice in Real Estate Agents. Born here, raised here, working here for 37 years in an industry I love. Locally Owned. Locally Operated. Supporting Local schools, Youth sports and groups with a life time of experience to give you an advantage in this Real Estate market.
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 28, 2022
There are 44 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 4 New Listings this week.
There are 82 SINGLE FAMILY HOMES UNDER CONTRACT
There are 8 SINGLE FAMILY HOMES CLOSED this week.
There are 721 SINGLE FAMILY HOMES SOLD 1/1/22 TO 11/28/2022. The average SALE PRICE is $407,579 The average DAYS ON MARKET is 8.
There are 24 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 2 New Listings this week.
There are 33 CONDOMINIUM STYLE HOMES UNDER CONTRACT:
There are 2 CONDOMINIUM STYLE HOMES CLOSED this week.
There are 382 CONDOMINIUM STYLE HOMES SOLD 1/1/22 TO 11/28/2022 - The average SALE PRICE is $267,204. The average DAYS ON MARKET is 12
There are 14 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 32 MULTI FAMILY UNDER CONTRACT:
There are 1 MULTI FAMILY HOMES CLOSED this week.
There are 258 MULTI FAMILY HOMES SOLD 01/01/22 to 11/28/2022 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