Real Estate Trends – Brookline, New Hampshire  

Introduction:

Welcome back for our latest real estate market trend report.  Those of you joining us here for the first time, in these reports we examine housing market in a city or town in Massachusetts or New Hampshire to evaluate the current conditions.  This is done by looking at the changes in several key metrics year over year for the town to see how the market has changed.  We then evaluate what those observations mean for that market moving forward. 

Today we going back up to New Hampshire and highlighting Brookline, NH in Hillsborough County

 Brookline New Hampshire Town Seal - Brookline NH Real Estate

Market Trends in Brookline, NH – April 2014 and 2015:

The Brookline, NH market appears to be down some since last year.  Both the average listing and average sales prices were down a bit.  The days on market did not change.  Inventory was steady going from 5 sales in April of 2014 to 6 in 2015. 

Average Listing Prices:

The first thing we will take a look at the average listing price.  For Brookline, NH the average listing price in April 2014 was $326,660.  This was down to $320,150 in April 2015.  That gives a very small 1.99% decrease. 

Average Sale Prices:

Next we take a look at the average sale prices.  The average sale price for Brookline, NH in April of 2014 was $320,738 and in April 2015 that was down to $302,900.  That gives a slightly larger decrease of 5.56%.

As mentioned several times in previous articles we use the average numbers for convenience but using the more standard median number usually makes little difference in the analysis.  In fact only in our recent article taking our 2nd look at Wakefield, MA did we see the first instance where the change year to year using the average was much different than the medians in a way that made the data look like it was down more.  In the case of Brookline, NH this month we see that the median sale prices tell a different story than the means.  In this instance it is not like the case just mentioned but more like our recent analysis of Duxbury, MA where the median numbers make the decline in prices much more dramatic.

Interestingly in this case only the sales prices make much of a difference.  Looking at the medians for listing prices they were down more but only a little over 4% which is not that much different than the just about 2% we saw above.  However for the sales prices the median for 2014 was $314,000 (pretty close to the mean above) and in 2015 it was $259,750, over $43,000 less than the mean.  If we use these numbers you see a huge 17.28% decrease.  Using the averages it is still safe to say the market was down a modest amount but if you want to use the median then sales prices are down dramatically.

Average Days on Market:

The last thing we look at are the average days on market, which is the measure of how long it takes for a house to sell in the current market.  For Brookline, NH the average days on market in April of 2014 were 101.2 and the average days on market for April 2015 were also 101.2, for a rare 0% change, they were just high and stayed high.

Brookline, New Hampshire Summary:

The Brookline, New Hampshire real estate housing market looks to have fallen off since last year.  The small drop in the listing prices looks more stagnant than falling, as would also be the case with the unchanged days on market.  However the most important indicator, the sales prices, was down.  If we use our average numbers then the market was definitely down but only to a small degree, but using the median numbers it was down significantly.  I think it is safe to say that the market in Brookline, NH is down, just the magnitude is in question depending on what data you prefer looking at.

In summary if you are looking to sell a house in Brookline, NH now you should expect to get less than you would have last year.  You should also expect it to take more or less the same time to sell compared to last year.  Despite the fact things are selling about as fast as last year, if you want to sell your place in a reasonable amount of time you might consider taking a discount to move it faster since days on market are just pretty high.

 

Do you need to sell your Brookline, New Hampshire house fast?  If you would like to sell your home fast and hassle free schedule a consultation with us today.

Please share your questions and comments below.

 

 

 

(Image credit: Brookline Town Seal via Wikipedia)

 

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