Real Estate Trends – Atkinson, New Hampshire

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 marketin Atkinson, NH in Rockingham County

 Atkinson NH Town Hall - Atkinson New Hampshire Real Estate

Market Trends in Atkinson, NH – August 2014 and 2015:

The Atkinson, NH market has fallen off quite a lot compared to last year.   Both the average listing and sale prices were down.  The median prices were down significantly too.  The days on market appear to be down some, but that looks to be incorrect with closer analysis.  Inventory was up a lot, more than doubling, going from 5 sales in August of 2014 up to 12 in August 2015. 

Average Listing Prices:

To start off first we are going to look at the average listing price.  For Atkinson, NH the average listing price in August 2014 was $437,920.  This was down to $378,100 in August 2015.  This gives a large decrease of 13.66% year over year. 

We want to see what the medians look like with such a big drop with the averages.  Taking a look at the median prices we see that it is quite a bit larger in 2014 and a bit smaller than the average in 2015.  For August of 2014 the median listing price for Atkinson, NH was $494,900 and in August 2015 it was $331,900 which now gives a much, much larger 32.94% decline!

Average Sale Prices:

Next up we will be looking at is the average sale prices.  The average sale price in Atkinson, NH in August of 2014 was $436,280 and in August 2015 that was down to $370,525.  That gives another significant 15.07% decrease. 

We see the same pattern with the median sale prices as we did for the listing prices.  For August of 2014 the median sales price for Atkinson, NH was $484,500 and in August 2015 it was $324,950 again giving a much larger 32.93% decrease. 

Prices are way down for Atkinson, NH.  No matter which method you look at they are down a significant amount.  Since medians are generally favored it is reasonable to think that prices are down in the 30% range.  Though with much lower declines in the averages it would reasonable to think that it might not be down that much, but still probably more than the 15% range indicated by the averages. 

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 house to sell in the current market.  For Atkinson, NH the average days on market in August of 2014 were 44.80 and the average days on market for August 2015 were 37.25, for a modest 16.85% 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) and Newburyport outliers in the data can really skew these numbers.  This again is the case for Atkinson, NH in August.  In this instance there was a very high days on market place in the 2014 data.

In 2014 there was a property with 175 days on market; this was more than the other 4 properties combined and was over 78% of the total days on market for all 5 houses.  When removed the new calculation for the remaining 4 properties gives an average days on market of 12.25. 

Using the adjusted numbers we see a huge 204% increase.  This completely changes the general thought of the days on market being down somewhat and now they appear to be up a very large amount.

Atkinson, New Hampshire Summary:

The Atkinson, New Hampshire real estate market is down quite a bit since last year.  The average prices and the median prices were both down by significant amounts.  The extent of the decline is much more when looking at the medians, which is usually the favored measure.  The days on market were also up a very large amount further supporting this conclusion along with the very large drops in pricing.   

In summary if you are looking to sell a house in Atkinson, NH now you should expect to get a lot less for it than you would have gotten last year.  You should also expect it to take a lot longer to sell compared to last year as well.    

 

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

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(Image credit: Atkinson Town Hall via monikamcgillicuddy.com)