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 !
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.
It has been a pretty good week! I got to spend a long weekend soaking up the rays at the beach in beautiful Narragansett, RI, got to take the munchkin to the
zoo for the first time, AND there is good real estate news everywhere!
After a few days away my Google Reader was chock full of news. There was lots of New Hampshire news, lots of cloth diapering reviews and advice, lots of yummy new recipes to try, and of course lots of real estate news. And, surprise surprise, the real estate news was mostly good!
I am a very firm believer that media played a large role in the crumble of the local housing market over the past few years. It is true that there are lots of foreclosures that are bringing values down, it is true that a great many people are upside down in their homes. However, up here in New Hampshire, the foreclosures did not really hit until the past year or so. Historically speaking, we here in New Hampshire are a bit `behind the times` when it comes to the market… our market rises a bit after and a bit slower than other areas, and drops the same way. I believe that before our prices had to start dropping, they did because everyone expected them to. Watching the doom and gloom news every night, reading it every morning in the paper… you see what is happending in California and Florida and you expect no less outside your front door.
Anyway, it appears as
the opinion of mass media might be about to turn around! Realty Times is reporting good news about the housing market, the
Boston Globe is reporting good news about the housing market,
Business Day is reporting good news about the global market! Whoa!
Hopefully, this is a sign of things to come. The more confidence buyers have in the market, the more likely they are to buy. The more buyers that buy, the more stable the market will become. Mass media has an incredible hold on the opinions of the general public, so if they are starting to crack a smile, we just might be heading in the right direction!
Today I am in a numbers mood. So… I thought I would play with stats. As it is the last day of July, this month`s numbers are not quite complete, so I used June.
This following shows the June numbers for the last five years. The important numbers are the median price, the number of sales, and the total sales volume.
The number of sales is down 37% from June 2005 to June 2009, while the sales volume is down 45%. Looking a little closer at those sales numbers…
Sales up to $100,000 – UP 166%
Sales $100K – $200K – DOWN 32%
Sales $200K – $300K – DOWN 60%
Sales $300K – $400K – DOWN 22%
Sales $400,000 and up – DOWN 47%
The incredible jump of homes less than $100,000 is foreclosures. No doubt about it. And the $200,000 – $300,000 homes have taken the brunt of the downturn, which is pretty evident when you look at recent activity. Take real estate sales in Tuftonboro, for example. There are currently 40 properties on the market between $200,000 and $300,000, and only one lonely pending sale. Over the past 12 months, there have been four sales in this price range. Compare those figures with the $300,000 – $400,000 price range, with only 13 active listings, one pending sale, and seven sales in the past year.
The good news? If you are a buyer and are looking in the $200,000 – $300,000 price range, you certainly have the pick of the litter! If you are a seller (like one of my clients), well, competition is tough. BUT, homes are selling. Price it right and make sure your agent is advertising on the internet and is there for all showings. The summer selling season has really just begun!
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