Real Estate Trends – Windham, New Hampshire

Introduction:

Welcome back for our latest real estate market trend report.  For those of you that are here for the first time what we do in these reports is examine the real estate market in a city or town in Massachusetts or New Hampshire to evaluate the current conditions.  We do this by looking at the changes in three key metrics year over year for the municipality to see how the market has changed and then evaluate what those observations might mean for that market moving forward

Today we are highlighting Windham, NH in Rockingham County

 Windham NH Town Seal - Windham New Hampshire Real Estate

Market Trends in Windham, NH – May 2014 and 2015:

The Windham, NH market appears to be down quite a bit since last year.  Both the average listing and average sales prices were down significantly, though the days on market were down some year over year as well.  Inventory rose dramatically going from 12 sales in May of 2014 to 22 in May 2015. 

Average Listing Prices:

First we are going to look at the average listing price.  For Windham, NH the average listing price in May 2014 was $492,116.  This was down to $431,427 in May 2015.  That gives a pretty large 12.33% decrease year over year.  Interestingly after generally seeing little difference using the average instead of the median numbers we see here that while the 2014 numbers are very close the 2015 medians are much lower than the average greatly amplifying the decrease we are seeing.  Using those median numbers we see prices as $499,498 in 2014 and $402,500 in 2015 for a very large 19.42% decline.

As a side note one of the things I do like about New Hampshire MLS data is that they give you both the average and median prices.  Unlike the Massachusetts system that only gives the averages and you need to figure out the medians yourself.  This is the major reason that we tend to reference both more often in our New Hampshire articles.

Average Sale Prices:

Next we will look at the average sale prices.  The average sale price for Windham, NH in May of 2014 was $493,909 and in May 2015 that was down to $426,864.  That gives an even larger decrease of 13.57%, which again is pretty significant. 

Not surprisingly we see a similar phenomenon when we look at the Median prices.  For the sale prices the medians were $496,800 and $398,750 for a very dramatic 19.74% change.

Average Days on Market:

The final metric 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 Windham, NH the average days on market in May of 2014 were 85.75 and the average days on market for May 2015 were 71.55, for a modest 16.56% decrease. 

Windham, New Hampshire Summary:

The Windham, New Hampshire real estate market looks like is has fallen off significantly since last year.  The very large drops in listing prices and sale prices show this very clearly.  However, the decrease in days on market is a small consolation for sellers at this time. 

In summary if you are looking to sell a house in Windham, NH now you should expect to get significantly less than you would have last year.  However you should also expect it to take less time to sell compared to last year if you have it priced at this new lower level.

 

Do you need to sell your Windham, 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: Windham Seal via Wikipedia)

 

 

 

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