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Manchester NH Real Estate Market REPORT March 18, 2024

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

Manchester NH Real Estate Market REPORT March 18, 2024.  Welcome back to our weekly post with what is going on in our Market. There is so many changes in our market and to Real Estate Over all and since last week. First lets briefly go over the NAR SETTLEMENT and what it really means for NH Sellers and Buyers. Here in NH it is already mandatory that a buyer signs a "Buyer Agency" agreement. (That will not change). What will change is that a buyer who does not have a buyer agent, will have to sign an agreement with an Agent to see a property they want to see before seeing it. Here in NH, a buyer already has to sign an "Agency Agreement" before seeing a home. The new forms are not even ready yet to be able to know fully, but the thought is the new form will have to state how the Buyer pays the agent showing them property before seeing any homes for sale. What the media may be missing is the settlement may affect buyers in a much more negative way.

 

The headlines stating commissions will be cut in half are sometimes misleading. Commissions are already negotiable here in NH. Each seller can negotiate with each agent the terms and amounts acceptable to them. The biggest change is that Listing Agents will not be able to post in MLS the amount they are willing to pay a buyer broker. In some cases, the Buyer  may have to pay the buyer agent their fee. In other cases the buyer agent may be able to negotiate with the listing agent how much they will pay a buyer agent for bringing a buyer to their listing. 

HOW THINGS WORK IN NH is that a seller signs a contract with a Listing Agent agreeing to pay x percentage of the sales price. In the contract states how much of the listing agents commission the Listing Agent will then pay a buyer agent for bringing a buyer. If there is no buyer agent then often the listing agent also has to do the work of the buyer agent.

 

THE MOST IMPORTANT THING a home seller should note out of this is What services will they receive for the amount of commission they pay. Not every agent is created equal. Experienced "Great" Listing Agents sure can add more value to a sale than not so experienced ones. It is important to ask how experienced an agent is. What services they provide. That bigger is not better. Does the agent answer their own phone? Is the agent representing you through each step of the listing and selling process? Do they pawn you off to assistants?  How do showings work? Will they submit all offers as they come in or hold offers from the seller? In a changing market experience matters more than anything. Reducing or eliminating stress and concerns from a home seller sure does count as well. Going over each step of the Listing and Selling process from costs, to time table and to what to expect through each step including setting a list price, time to sell, how to prepare, showings, how it works with other agents, how offers will work to what to expect when going under contract to the time you close.  

PLEASE FEEL FREE TO CONTACT ME WITH ANY QUESTIONS YOU HAVE OR WHAT YOUR HOME IS WORTH IN TODAYS MARKET!!!!

 

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LETS TAKE A LOOK AT SOME NUMBERS AND TRENDS:

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

MARKET REPORT FOR MARCH 18, 2024

There are 11 SINGLE FAMILY HOMES FOR SALE: The average Listed priced home is $463,509. The lowest priced home is $359,900. The highest priced home is $675,000. The average DAYS ON MARKET is 38


There were 7 New Listings this week.
There are  54 SINGLE FAMILY HOMES UNDER CONTRACT
There are 10 add SINGLE FAMILY HOMES CLOSED this week.

2024: There are 95 SINGLE FAMILY HOMES SOLD 1/1/24 TO 3/18/2024. The average SALE PRICE is $437,608. The average DAYS ON MARKET is 19. 

2023:There are 94 SINGLE FAMILY HOMES SOLD 1/1/23 TO 3/18/2023. The average SALE PRICE is $414.640. The average DAYS ON MARKET is 24.


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There are 7 CONDOMINIUM STYLE HOMES FOR SALE: The average priced home is $307,599. The lowest priced home is $129,400. The highest priced home is $699,900. The average DAYS ON MARKET is 58

There were 3 New Listings this week.
There are 21 CONDOMINIUM STYLE HOMES UNDER CONTRACT:
There are 5  add to  CONDOMINIUM STYLE HOMES CLOSED this week.

2024: There are 49 CONDOMINIUMS SOLD 1/1/24 TO 3/18/2024. The average SALE PRICE is $313,908. The average DAYS ON MARKET is 22. 

2023:There are 57 CONDOMINIUMS SOLD 1/1/23 TO 3/18/2023. The average SALE PRICE is $294,295. The average DAYS ON MARKET is 28.


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There are 16 MULTI FAMILY HOMES FOR SALE: The median priced home is $871,543. The lowest priced home is $361,000. The highest priced home is $4,989,000.

There was 2 new Listings last week.

There are 19 MULTI FAMILY UNDER CONTRACT:

There was 6 new CLOSINGS last week.

2024: There are 34 MULTI FAMILY HOMES SOLD 1/1/24 TO 3/18/2024. The average SALE PRICE is $618,867437,608. The average DAYS ON MARKET is 38. 

2023:There are 27 MULTI FAMILY HOMES SOLD 1/1/23 TO 3/18/2023. The average SALE PRICE is $517,351. The average DAYS ON MARKET is 32.



* Data from NNEREN, subject to change, error or omission

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WHAT DO THESE TRENDS MEAN:  Values are up sharply from 2023 to 2024. The amount of homes for sale is down 50 to 66% from last year. 

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. Experience matters. Choose the Best agent not the biggest. Bigger is not better.  Choose experience over not experienced. Choose Local over National. Please support locally owned businesses and chose us, your home town Realtors for 38 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.

When you are ready to sell, call us for some of the best service and most experience during your home selling journey. 


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 38 years of experience, Scott started working in Real Estate at Age 18. 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

Comments(4)

George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Scott Godzyk this is good updated information for both Buyers and Sellers in your area.

Mar 18, 2024 01:03 PM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Scott- good to see you here. I'm sure sellers and buyers who try to stay informed will want to know how the recent events will impact them. 

Mar 18, 2024 06:27 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Another great  Market Report Scott Godzyk  hope this will get you buyers and sellers, miss our interaction, Endre

Mar 18, 2024 10:11 PM
Jim Crawford
Long & Foster - Fredericksburg, VA
Jim Crawford Broker Associate Fredericksburg VA

Scott Godzyk Thank you for sharing this report.

Mar 19, 2024 07:43 AM