Real Estate Trends – Windham, New Hampshire #3

Introduction:

Welcome back again 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 the market in Windham, NH in Rockingham County

 Windham Junction in Windham NH - Windham New Hampshire Real Estate

Market Trends in Windham, NH – June 2015 and 2016:

The Windham, NH market has fallen off some since last year.   The average prices were down and the median prices were down as well.  The days on market appeared to be down a lot, but on further examination that may not actually be the case.  Inventory was up a lot with 24 sales in June of 2015 down to 34 in June 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Windham, NH the average listing price in June 2015 was $496,558.  This was down to $470,382 in June 2016.  This gives a modest decrease of 5.27% year over year. 

Looking at the median prices we see that it was lower in both years.  For June of 2015 the median listing price for Windham, NH was $494,900 and in June 2016 it was $454,450 which now gives a larger decrease of 8.17%.

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Windham, NH in June of 2015 was $498,577 and in June 2016 that was down to $467,373.  That gives another modest decrease of 6.26%, and slightly higher as the average list price. 

We see the same pattern as we did for the median list price.  For June of 2015 the median sales price for Windham, NH was $483,450 and in June 2016 it was $460,000 giving another decrease of 4.85%.

Prices have gone down some for Windham, NH this month.  The metrics did not have much of a pattern this time.  Overall the range wasn’t huge going from just under 5% to just over 8%.  The median listing price was a bit higher than the others being almost 2 points higher than the next highest.  We would give this less weight than the others.  That pulls the spread to only about 1.5%.  So overall the range isn’t big or that big of a decrease.  Overall the median sale price is the one considered the most useful and that was the lowest drop of all of them so best guess is that prices are down just under 5%.

Average Days on Market:

Finally the last metric we look at are the average days on market, which is the measure of how long it takes for a property to sell in the current market.  For Windham, NH the average days on market in June of 2015 were 114.54 and the average days on market for June 2016 were 54.18 giving a large 52.70% decrease.

However, as we have seen many times before in our previous posts for AbingtonBedfordSeekonk, BelmontTopsfieldCanton, Dracut (Condos)HamiltonWakefield, Amesbury (Condos), Dracut #2, Taunton, Reading, Stoughton, Wrentham, Stoneham, Dedham, Nashua, NH, Tewksbury, Brockton (Multifamily), Lowell (Multifamily), Acton , Foxboro, Pembroke, Chelmsford, BeverlyFramingham (Condos), Plymouth County (Condos), Marlborough, Billerica, Waltham, Dracut (Condos) #2, Derry, NH, Framingham, Burlington, Duxbury, Acton #2 , Taunton (Condos), Tyngsborough, Milton, Salem, NH, Boston’s Hyde Park, Boston’s West Roxbury , Somerville, Canton #3, Pelham, NH, Westford, Plymouth (Condos), Boston’s Jamaica Plain , Halifax, Braintree (Condos), Newton (Multifamily), Plainville ,Boxford, Wayland , West Bridgewater, East Bridgewater, Marlborough (Condos), Natick (Condos), Gloucester, (Condos), Melrose (Condos), Norton (Condos), Newburyport, Atkinson, NH, Fairhaven, Lexington, Arlington (Condos), Salisbury, Weston, Groton, Wellesley, Littleton, Lowell (Condos) #2, East Boston (Condos), Dedham #3, Hanover, Canton (Condos), Belmont #2, Seabrook, NH, Hingham (Condos), Lakeville, Raynham, Holliston, Londonderry, NH, Georgetown, South Boston (Condos), Needham #2, Arlington #2, Foxboro #2, Boston’s Roslindale (Condos), Burlington #2, Salem NH #2, Boston’s South End (Condos) #2Somerset, Everett (Multifamily), Sharon, Dedham #4, Boston’s Brighton (Condos), Winthrop (Condos), Littleton #2, Ipswich, Westport, Franklin (Condos), Groveland and Boston’s Fenway (Condos) #2 outliers in the data can really skew these numbers.  This again is the case for Windham, NH in June.  In this instance there was a very high days on market place in 2015.

In 2015 there was a property with 1071 days on market; this was more than the next 3 properties combined and more than 61% of the total days on market for all 24 Properties.  When removed the new calculation for the remaining 23 properties gives an average days on market of 46.56. 

Using the adjusted numbers we now get a small increase of 16.36%.  This totally changes the basic conclusion that the days on market were down a lot.  At first it looked like there was a very large decrease in the days on market but now it looks like they are actually up a tad.

Windham, New Hampshire Summary:

The Windham, New Hampshire real estate market is down a lot since last year.  The average prices were down and the median prices were down as well.  The days on market were up a small amount as well after adjustment, which gives some additional support to a down market.

In summary if you are looking to sell a house in Windham, NH now you should expect to get less for it than you would have gotten last year.  You could also expect it to possibly take a little more time to sell compared to last year as well. 

 

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 Junction 1910 via Wikipedia)

 

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