Market Trends

Nine-year New Hampshire home data

The New Hampshire Association of Realtors is attempting to stress the importance of looking at long-term real estate trends, rather than the media-driven fascination with individual, year-over-year sales and price statistics.

With that in mind, they’ve compiled statewide and county data beginning in 1998, when the statewide median price for a single-family residential home was $127,500. That number rose to its peak of $270,000 in 2005, a remarkable 112 percent increase (a 16 percent per year average increase), since which time we've seen the modest median price declines (down 1.9 percent in 2006 and 1.6 percent in 2007) that seem more dramatic primarily because of the booming market in the seven years prior.

Here in the Upper Valley we’ve seen similar trends with the median selling price over the past 12 months falling about 3%. However, the average sales price is up 2% indicating that a few higher priced homes have pulled up the average in some area towns. The only real noticeable downturn is the increase in the number of days on the market. Day’s on Market is an indicator of how long it takes in this market to sell a home, 3 to 4 months seems to be the expected marketing time for a correctly priced property.

A correctly priced home is key in this market, if you are ignoring your Brokers price opinion, assuming you have one, you are only doing yourself a disservice and you’ll pro-long the time it takes to sell, if at all.

For a FREE market opinion of your home email freecma@uvmaxre.com or give us a call at 603-298-8900.

Gerry Stark Principal Broker (603) 298-8900

RE/MAX Upper Valley Partners

(800) 925-9310