Can you believe it is the middle of October already? It will be very interesting to see how the numbers look for the next few months now that the summer buying season is winding down.
Quick Stats:
Pending sales in both Belknap and Carroll Counties are up! Carroll County saw a 1% increase (hey, it is an increase!) and Belknap County rose 8%. Sales in Carroll County rose 6%, while the number of sales Belknap County sales dropped 15%.
Median Sales Price:
Whoops. The median sales price dropped by about 10%. This could be caused by some summer end price drops, or sellers accepting lower offers because it was getting towards the end of the selling season.
Average Days on Market:
The Average Days on Market in Carroll County was a super low 145 days this month! Lets see if this low number turns into a trend!
Absorption Rate:
I absolutely believe that the absorption rate is one of the most important stats to look at … and it is looking good! Hillsborough County is down to a very respectable 8.4 months! Considering that six months ago we were seeing counties with absorption rates in the 30s, this is pretty impressive! Rockingham County is a 10.7, Strafford County is 11.4, and New Hampshire as a whole is at 12.3 months. Not too bad! Coos County currently has the highest rate at 20.3, with Carroll and Belknap Counties just under it at 19.7 and 18.4.
The Absorption Rate trend is certainly going in the right direction. Keep dropping! Keep dropping !
There are a few large parcels of land for sale in the area, but none
can compare to the tract we just listed in Madison NH. The lot has just over 400 feet of frontage on East Madison Road, and the frontage is a peaceful rolling three acre field.
With a whopping 43.58 acres behind the field, there is plenty of room to roam! Head up the hill and see the sweeping views of the Ossipee and Sandwich ranges, as well as Silver Lake. It has been about 15 years since this lot was logged, so there is quite a bit of large growth on it. You will find that the majority of large lots on the market have been more recently logged. The owners take the timber value off of them before selling them. Granted, this does open up nice building spots and view points, this owner would rather keep the forest in it`s natural form!
The majority of this parcel is in current use. A small portion (0.20 acres) has been taken out of current use in order to obtain a driveway permit and building permits for a 36`x 36` structure just beyond the field and a small camp tucked back in the woods.
This lot is located in the town of Madison, just a few minutes away from skiing at King Pine, shopping in North Conway, or swimming in Silver Lake. It is about 2 1/2 hours north of Boston, 1 1/2 hours west of Portland, and 1 3/4 hours north of Concord.
Let`s talk property taxes in New Hampshire. Or, more specifically, property taxes in Carroll and Belknap Counties. There are twenty-nine towns in those counties, with property tax rates ranging from $6.65 per $1,000 in Hart`s Location to a whopping $21.03 in the lovely town of Tamworth. I mean it when I say `the lovely town,` by the way, as I live there. Worth every penny, I tell ya!
No offense at all to Hart`s Location-ites, but besides the opportunity to
be on TV every time the presidential election comes around, there is not to much going on up there other than lots and lots of privacy. Beautiful spot, just not a lot of job opportunities, you know? There
are quite a few other towns that have both low rates and grocery stores… such as Moultonborough ($7.66), Tuftonboro ($7.95), Bartlett ($8.11) and Wakefield ($9.81).
Now…question of the day.
Does a low tax rate really mean lower monthly house payment? One would assume so, when the owner of a $200,000 house in Tuftonboro pays a measly $132.50 per month in taxes, while the owner of a $200,000 house in Gilmanton pays a comparatively-whopping $349.66 per month. However… that $200,000 house in Tuftonboro is a 1,300 square foot ranch on an acre and a half, a few miles from the main road. That $200,000 house in Gilmanton is a 2,000 square foot colonial on over 7 acres with an attached two car garage (both actual recent sales of about $209K). Hmmmm.
The moral of the story is….
Do not assume that you are going to get the most `bang for your buck` in a town with a low tax rate. The inverse is also true… do not assume that the best `deals` are had in the lower priced towns! Be sure to take the property taxes into consideration.
And…for your viewing pleasure… Carroll County and Belknap County Property Tax Rates:
**rates are 2008 rates. Always, always, always have your agent check for any rate changes!
I am very excited to announce a few new pages over at YourRedHouse.com!
Although information about property sales is public knowledge, there is no easy way for consumers to see past sales except by trekking to the County Registry of Deeds, or watching week by week in the newspaper.
So far, you can see Carroll County Home Sales in 2009 and Belknap County Homes Sales in 2009. Prior years may come next…we shall see.
The interactive charts allow you to narrow it down by town, by street number or street name, by sale month or by sale price. A little snapshot of what you will enjoy….
Go check it out!
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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