Manchester NH Real Estate Market REPORT Nov. 20, 2023. The biggest news from the week was the sharp reduction in interest rates. It gave a nice boost to market activity this week with a sharp rise in homes going under contract. Lets look at some trends then we can go over what they mean.
LETS TAKE A LOOK AT SOME TRENDS:
Mortgage interest rates Declined sharply last week.
The amount of new buyer inquiries was up sharply.
The amount of Sellers asking about Listing or waiting until the New Year was up.
There are have been a sharp increase in obstacles for homes under contract. i.e. Inspections, buyer mortgages and buyers backing out.
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WHAT DO THESE TRENDS MEAN: With a decline in interest rates many buyers were inspired to inquire about starting a home search. It also inspired a wave of new offers the last couple of weeks. Sadly, many listings currently on the market are over priced. It is tough for sellers to learn values have come down in some areas. Many sellers want to base their homes values on what they saw last summer or last year. The best tip to anyone who has a home on the market or is thinking of selling is getting a current valuation of what their property is worth today. You can not look at what homes sold for over the summer or even last year, the market has changed. You need today's value.
MANY ASK WHAT THE DIFFERENCE IS FROM ONE AGENT TO ANOTHER IS? As with a changing market, you will find an Agents experience matters the most. In brief the differences can be great. Experience Matters more than ever. Communication Matters. The ability to work with you each step of the Buying or Selling service. Let us show you there is a difference. Many newer agents have never dealt with a changing market. Many have not dealt with high interest rates and tough bank conditions for getting a mortgage. Again, this is where experience can shine,
PLEASE SUPPORT LOCAL BUSINESS!!!
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Welcome to our WEEKLY wrap up from Monday to Sunday of last week
MARKET REPORT FOR Nov. 20, 2023
There are 38 SINGLE FAMILY HOMES FOR SALE: The average Listed priced home is $472,291. The lowest priced home is $275,000. The highest priced home is $829,000. The average DAYS ON MARKET is 26
There were 9 New Listings this week.
There are 70 SINGLE FAMILY HOMES UNDER CONTRACT
There are 25 add SINGLE FAMILY HOMES CLOSED this week.
2023: There are 593 SINGLE FAMILY HOMES SOLD 1/1/23 TO 11/20/2023. The average SALE PRICE is $419,290. The average DAYS ON MARKET is 14.
2022:There are 715 SINGLE FAMILY HOMES SOLD 1/1/22 TO 11/20/2022. The average SALE PRICE is $405,308. The average DAYS ON MARKET is 13.
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There are 21 CONDOMINIUM STYLE HOMES FOR SALE: The average priced home is $315,937. The lowest priced home is $144,500. The highest priced home is $630,000. The average DAYS ON MARKET is 32
There were 4 New Listings this week.
There are 45 CONDOMINIUM STYLE HOMES UNDER CONTRACT:
There are 2 add to CONDOMINIUM STYLE HOMES CLOSED this week.
2023: There are 282 CONDOMINIUM STYLE HOMES SOLD 1/1/23 TO 11/20/2023. - The average SALE PRICE is $304,666. The average DAYS ON MARKET is 15
2022: There are 382 CONDOMINIUM STYLE HOMES SOLD 1/1/22 TO 11/20/2022. - The average SALE PRICE is $269,519. The average DAYS ON MARKET is 13
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There are 24 MULTI FAMILY HOMES FOR SALE: The median priced home is $635,000. The lowest priced home is $399,900. The highest priced home is $4,500,000.
There was 3 new Listings last week.
There are 36 MULTI FAMILY UNDER CONTRACT:
There was 4 new CLOSINGS last week.
There are 188 MULTI FAMILY HOMES SOLD 1/1/2023 TO 11/20/2023. - The average SALE PRICE is $562,267. The average DAYS ON MARKET is 20.
* 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.
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
#RealEstate, #ScottSellsNHdotCOM, #ScottSellsNH
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