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 !
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!
Well, it is officially summer! It will be very interesting to see what the summer real estate market will have in store for us.
Quick Stats:
As usual these days, there are plenty of active listings to go around. Both Carroll and Belknap active listings are up about 7% over last month, but that is to be expected with new listings coming on for the summer. Carroll County had a relatively strong month with Pendings increasing 7% and closings increasing 35% (woot, woot!!), while Belknap did not do quite as well with Pendings down 15% and closings down 10%. Come on Belknap, stay with us!
Average Sales Price:
The Average Sales Price in Carroll County is down to $169,900. It was $179,000 the prior month and $200,500 this time last year. Average Days on Market:
This year Carroll County is quite sporadic with regards to the average time on the market. As you can see it has been quite up and down for the past few months. This month`s downward trend is a good sign… let`s hope it continues!
Absorption Rate:
And…the ever important absorption rate. Carroll and Coos still have the highest rates with 29.5 and 28.6 months of inventory on the market, respectively. Hillsborough County once again has the lowest rate with 14.2 months.
The rates are up pretty much across the board. I would like to think that it is because of the influx of new spring/summer listings. We shall see!
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.
The NNEREN May Stats are out! Time for the monthly review of New Hampshire Real Estate stats!
Quick Stats
As usual…. lots o` active listings in Carroll County. Pending sales are up from last month nearly 25%, though! Sales are down just a bit, from 68 to 57.
Average Sales Price
The average sales price has gone up! Still a bit off of last year, but up is good. Up is very good.
Average Days on Market
The Average Days on Market has been up and down as of late. We are currently at 211 days which is a bit higher than we would like to see! Hopefully we can see this number drop as we come into the summer selling season.
Absorption Rate
The almighty absorption rate… As a whole, New Hampshire had a significant drop over last month, going from approximately 24 months worth of inventory on the market to 18. That is definitely headed in the right direction! Carroll and Coos Counties currently have the highest rates, at 28 and 27 months, respectively. Hillsborough County is down to 14 months!
Absorption Rate over Time
All in all… not too shabby! Properties are starting to go under contract and sell, and more higher priced homes are selling as well. Price it right, and it can be done!
