July 2009 – The New Hampshire Real Estate Market
by Michelle on August 13, 2009
in NH Real Estate Market
Can you believe it is August already? The July New Hampshire Real Estate Market statistics courtesy of NNEREN are in! And…you know what? They are not too shabby!
Quick Stats:
There are still plenty of properties on the market, no doubt. However, Carroll County pendings are up 11% from last month, and current closings are up 5%! Up is good, up is good. Belknap County did not fare quite so well with pendings down 5% and closings up about 1%, but still, we have definitely seen worse!
Median Sales Price:
The Median Sales Price is down again and quite a bit off of last year, but this is simply the effect of low priced foreclosure sales. THIS POST shows that quite clearly for the month of June. In order for the housing market to recover, the price of houses does not necessarily have to increase. The number of houses selling does!
Average Days on Market:
The Average Days on Market for Carroll County has leveled off with last year`s number. Hopefully this is the beginning of it settling down a bit and dropping!
Absorption Rate:
And, most importantly, the Absorption Rate. I absolutely feel that this is the most important number to look at, and the rate is down across the entire state! The rankings have not changed… Carroll and Coos still lead the pack with 28.5 and 27.4 months, and Hillsborough is still the lowest with an almost-respectable 12.9! Maybe we will see a single digit rate in a few months… ?
Absorption Rate over Time:
Overall, the July 2009 statistics for New Hampshire are …ok! It will certainly be interesting to see what August brings.
Statistics Copyright 2009 Northern New England Real Estate Network, Inc. The reproduction of these statistics is done with the permission of NNEREN. The statistics referenced herein are based solely upon listings submitted to the multiple listing service database of NNEREN and do not include all properties sold and marketed for sale. ALL INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED. Any analysis or commentary related to these statistics is that of the commentator, and not that of NNEREN.
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