Real Estate Trends – Bedford, New Hampshire #2

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 Bedford, NH in Hillsborough County

 Bedford NH Town Hall - Bedford New Hampshire Real Estate

We first looked at Bedford, NH back last November, seeing price drops of 20% or more.    

Market Trends in Bedford, NH – April 2015 and 2016:

The Bedford, NH market has fallen off significantly since last year.   The average prices are down substantially and the median prices were down by a similar amount.  The days on market were also up by a lot as well.  Inventory was up a little pretty stable with 15 sales in April of 2015 up to 17 in April 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Bedford, NH the average listing price in April 2015 was $562,067.  This was down to $432,129 in April 2016.  This gives a huge decrease of 23.12% year over year. 

Looking at the median prices we see that they were lower in both years.  For April of 2015 the median listing price for Bedford, NH was $479,900 and in April 2016 it was $374,900 which now gives a slightly smaller decrease of 21.88%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Bedford, NH in April of 2015 was $555,109 and in April 2016 that was down to $420,796.  That gives another massive decrease of 24.20%, and slightly larger than the average list price. 

We see the same pattern as we did for the median list price.  For April of 2015 the median sales price for Bedford, NH was $489,000 and in April 2016 it was $363,300 giving another very large decrease of 25.71%. 

Prices are down definitely down substantially for Bedford, NH this month.  The averages and the medians are all down well over 20%.  Overall not a huge range being roughly 22-26%.  However we do see that sales are both down more than their listing counterparts and the median sale price is down the most.  Therefore we would say that prices are down at the top of that range in the neighborhood of 24-26%, and most like at the top of that as well.  This is actually down even more than the huge decreases we saw last time for Bedford, NH

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 Bedford, NH the average days on market in April of 2015 were 38.33 and the average days on market for April 2016 were 88.76 for a huge 132% increase.

Bedford, New Hampshire Summary:

The Bedford, New Hampshire real estate market is down a tremendous amount since last year.  The average prices and the median prices were all down well over 20%.  The days on market were up a lot as well further showing a much weaker market.

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

 

Do you need to sell your Bedford, 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: Bedford NH Town hall by Magicpiano via Wikipedia)

 

Real Estate Trends – Bedford, 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 market in Bedford, NH in Hillsborough County

 Bedford NH Town Seal - Bedford New Hampshire Real Estate

“Bedford” is the first town that we have done the namesake for in both MA and NH.  A few others have had one of the other but this is the first with both as we profiled Bedford, MA a while back.

Market Trends in Bedford, NH – October 2014 and 2015:

The Bedford, NH market has fallen off significantly since last year.   Both of the average prices were down.  The median prices were down as well.  The days on market however are down a little bit.  Inventory was down somewhat with 25 sales in October of 2014 and 20 in October 2015. 

Average Listing Prices:

To start off first we are going to look at the average listing price.  For Bedford, NH the average listing price in October 2014 was $518,252.  This was down to $379,570 in October 2015.  This gives a huge decrease of 26.76% year over year. 

Checking out the median prices as well, we see that they are quite a bit lower than the averages in both years.  For October of 2014 the median listing price in Bedford, NH was $469,500 and in October 2015 it was $367,450 giving a little bit smaller decrease of 21.74%.

Average Sale Prices:

Next up we will be looking at is the average sale prices.  The average sale price for Bedford, NH in October of 2014 was $512,205 and in October 2015 that was down to $372,917.  That gives a slightly larger decrease of 27.19%, compared to the average listing price.

We see the same basic pattern with the median sale prices as we did for the listing prices.  For October of 2014 the median sales price for Bedford, NH was $455,000 and in October 2015 it was $365,000 giving another significantly large decrease of 19.78%.  While still quite high it is the lowest of the metrics we examined here.

The prices for the Bedford, NH real estate market are definitely down a lot this month from last year.  All the indicators say prices are down close to 20% or more.  The median prices are more commonly used in these types of analyses so more weight is given to those.  Since these were down less than the averages it is fair to conclude that they are down more in the 20-22% range indicated by those rather than the 27% drops suggested 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 Bedford, NH the average days on market in October of 2014 were 78.36 and the average days on market for October 2015 were 43.80 for a small 12.10% decrease.

Bedford, New Hampshire Summary:

The Bedford, New Hampshire real estate market is down quite a lot since last year.  The average prices are down around 27% and even though the median prices were down less they were still down by around 20%.  However, the days on market were down a small amount which can be a small consolation for sellers and a weak counter argument against there being a fall in the market.  

In summary if you are looking to sell a house in Bedford, NH now you should expect to get a lot less for it than you would have gotten last year.  However you can also expect it to take less time to sell compared to last year too.    

 

Do you need to sell your Bedford, 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: Bedford NH Town Seal via Wikipedia)

 

Real Estate Trends – Amherst, 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 Amherst, NH in Hillsborough County

 Amherst NH Town Common - Amherst New Hampshire Real Estate

Market Trends in Amherst, NH – June 2014 and 2015:

The housing market in Amherst, NH appears to be down quite a bit since last year.  Both the average listing and average sales prices were down significantly.  The days on market were up a little bit as well.  Inventory was up significantly with 19 sales in June 2014 and 31 in June 2015. 

Average Listing Prices:

To start off first we are going to look at the average listing price.  For Amherst, NH the average listing price in June 2014 was $413,116.  This was down to $365,436 in June 2015.  That gives a very significant 11.54% decrease year over year. 

We always look at the medians for all our NH reports since, unlike the MA MLS, these numbers are given to us.  The medians have appeared to be farther off from the averages recently and have been calculating them on many of our reports anyway.  In this case the median list price for Amherst, NH in June 2014 was $395,000 and in June 2015 it was $354,900 for a slightly smaller 10.15% decrease. 

Average Sale Prices:

Next up we will be looking at is the average sale prices.  The average sale price for Amherst, NH in June of 2014 was $413,984 and in June 2015 that was down to $359,016.  That gives a somewhat larger decrease of 13.28%. 

We will want to also examine the median sale prices too.  If we look at the median sale price for Amherst, NH for June 2014 was $389,500 and in June 2015 it was $351,000 to give a 9.88% decrease, which is a bit less than the average and also a tiny bit smaller than the drop in median list price. 

The prices for the Amherst, NH real estate market was down pretty significantly since last by any method we use to determine that.

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 Amherst, NH the average days on market in June of 2014 were 40.68 and the average days on market for June 2015 were 44.16, for a fairly trivial 8.55% increase. 

Amherst, New Hampshire Summary:

The Amherst, New Hampshire real estate market looks like is has declined a good amount since last year.  The double digit drops in both the listing and sale prices show this pretty clearly.  The small increase in the days on market also supports this, though that is much less pronounced.

In summary if you are looking to sell a house in Amherst, NH now you should expect to get a good bit less than you would have expected to get last year.  You should also expect to take about the same amount of time or slightly longer to sell than it would have last year.  

 

Do you need to sell your Amherst, 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: Amherst NH Common 2006 by Smuttynoser via Wikipedia)

 

Real Estate Trends – Pelham, 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 Pelham, NH in Hillsborough County

 Pelham NH Town Seal - Pelham New Hampshire Real Estate

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

The Pelham, NH market appears to be down some since last year.  Both the average listing and sale prices were down.  The days on market were down some year over year.  Inventory was down some going from 16 sales in May of 2014 to 11 in May 2015. 

Average Listing Prices:

First we are going to look at the average listing price.  For Pelham, NH the average listing price in May 2014 was $344,069.  This was down to $329,754 in May 2015.  That gives a fairly small 4.16% decrease year over year. 

However taking a look at the Median listing prices we will see that this could be underestimating the level of drop off that has happened.  The median prices were $377,450 in 2014 and $324,900 giving a much larger 13.92%.

Average Sale Prices:

Next we will look at the average sale prices.  The average sale price for Pelham, NH in May of 2014 was $345,033 and in May 2015 that was down to $329,845.  That gives a slightly larger decrease of 4.40%. 

However just like with the list prices we see a different level of change when looking at the Median sale prices.  In this case we see median sale prices of $364,000 in 2014 and $314,000 in 2015 for a similar change as seen above with a 13.74% decrease.

It is safe to say that prices are down in Pelham, NH compared to last May.  The decline is modest if we look at the average prices but pretty significant by the median prices.  The median is the more typical metric used in evaluating these kinds of statistics, but you are free to interpret the data in whatever way you feel is most appropriate. 

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 Pelham, NH the average days on market in May of 2014 were 49.44 and the average days on market for May 2015 were 44.64, for a fairly small 9.71% 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 and Canton #3 outliers in the data can really skew these numbers.  This again is the case for Pelham, NH in May.  In this case there was a very high days on market house in both the 2014 and 2015 data.

In 2014 there was a house with 250 days on market; this was higher than the next 3 combined and almost 32% of the total days on market for all 16 houses.  When removed the new calculation for the remaining 15 houses gives an average days on market of 36.07. 

In 2015 there was a house with 218 days on market; this was higher than the next 2 combined and more than 44% of the total days on market for all 11 houses.  When removed the new calculation for the remaining 10 houses gives an average days on market of 27.30. 

Using these adjusted numbers we see that the small decline in days on market now becomes a much more significant, 24.31% decrease.  This does not really change the general thought that things are selling a little faster than last year. 

Pelham, New Hampshire Summary:

The Pelham, New Hampshire real estate market looks like is has fallen off some since last year.  The drops in listing prices and sale prices show this.  The discrepancy in the magnitude of the fall based on using the average or median prices only leave debate in how much things are down.  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 Pelham, NH now you should expect to get 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 correctly.

 

Do you need to sell your Pelham, 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: Pelham Town Seal from www.pelhamweb.com via Wikipedia)

 

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)

 

Real Estate Trends – Milford, 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 three 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 up to New Hampshire and highlighting Milford, NH in Hillsborough County

 Milford NH Town Seal - Milford NH Real Estate

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

The Milford, 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 were also up.  Inventory was up a lot going from 10 sales in April of 2014 to 18 in 2015. 

Average Listing Prices:

First we will take a look at the average listing price.  For Milford, NH the average listing price in April 2014 was $275,140.  This was down to $236,894 in April 2015.  That gives a large 13.90% decrease year over year. 

Average Sale Prices:

Next we take a look at the average sale prices.  The average sale price for Milford, NH in April of 2014 was $277,750 and in April 2015 that was down to $233,339.  That gives a slightly larger decrease of 15.99%.

Part of that gap is attributed to the fact in 2014 the average sales price was higher than the average list price.  Last year places sold at just about 101% of the listed price with 4 of the 10 going over list and 2 others right at list.  This shows that the market was very hot last year.

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 Milford, NH the average days on market in April of 2014 were 53.50 and the average days on market for April 2015 were all the way up to 60.39, for a modest 12.88% increase.

Milford, New Hampshire Summary:

The Milford, New Hampshire real estate housing market has fallen off since last year.  The good size drops in both the listing prices and sale prices show this.  This is also supported by the small increase in days on market as well.

In summary if you are looking to sell a house in Milford, 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 maybe just a bit longer.  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 up as is the inventory.

 

Do you need to sell your Milford, 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: Milford NH Town Seal via Wikipedia)

 

 

Real Estate Trends – Merrimack, New Hampshire

Introduction:

Thanks for checking out our latest real estate market trend report.  For those of you here for the first time reading one of these reports, what we do is examine real estate market in a city or town in Massachusetts or New Hampshire to evaluate its current conditions.  We do this by looking at the changes in several key metrics year over year for the town to see how the market has changed and evaluate what those observations mean for that market moving forward.

Today we are going back up to the granite state again, highlighting Merrimack, NH in Hillsborough County.

Market Trends in Merrimack, NH – March 2014 and 2015:

The Merrimack, NH market has fallen off some since last year.  Both the average listing and average sales prices were down somewhat and the days on market were up a bit.  Inventory was up just a bit from 13 sales in March of 2014 to 15 in 2015.

Average Listing Prices:

As normal the first thing we are going to look at is the average listing price.  For Merrimack, NH the average listing price in March 2014 was $253,930.  This was down a bit to $244,853 in March 2015.  That gives us a decline of 3.57%.

Average Sale Prices:

The next thing we are looking at is the average sale prices.  The average sale price for Merrimack, NH in March of 2014 was $253,726 and in March 2015 that was down to $242,960.  That gives a larger decrease of 4.24%.  While the differences in the falls are not huge it still might indicate that prices are falling slightly faster than the local real estate agents are compensating for it.  This thought is also supported in the observation about the days on market to follow.

Average Days on Market:

As just alluded to the final item 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 Merrimack, NH the average days on market in March of 2014 were 36.77 and the average days on market for March 2015 were 54.33, for a noticeable 44.76% increase.  As I said above this supports the idea that prices are falling faster than asking prices are keeping up as properties are also sitting quite a bit longer as well. Since we have seen so many instances where a single data point in one, or both, years can skew the data I want to point out that is not the case for Merrimack, NH for either year.

Merrimack, New Hampshire Summary:

The Merrimack, New Hampshire real estate market has ticked down a little bit since last year.  The small drops in listing prices and in sale prices support this.  The increase in the days on market further support that since the longer a property sits will usually cause the price to go down. In summary if you are looking to sell a house in Merrimack, NH now you should expect to get less for it than you would have last year.  The market has also slowed down so you should consider taking a discount to sell it faster and avoid sitting on it for a long time.  

 

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

 

Real Estate Trends – Nashua, New Hampshire  

Introduction:

Welcome to our latest real estate market trend report.  Within these reports we examine a town in Massachusetts or New Hampshireand its real estate market.  If you have not been here before what we do is look at the municipality’s year over year change in the real estate market and talk about those observations and what they mean for the market.

Today we are going back up north and highlighting Nashua, NH in Hillsborough County.

Nashua Dam - Nashua NH Real Estate

Market Trends in Nashua, NH – December 2013 and 2014:

The Nashua, NH market has slowed down some since last year.  Both the listing and sales prices are down.  The days on market have not changed that much though.  Inventory was up some with 45 sales in December of 2013 and 55 in December 2014.

Average Listing Prices:

The first metric we will look at is the average listing price.  For Nashua, NH the average list price was $252,716 for December 2013.  This decreased down to $239,743 in December 2014.  This gives a decrease of 5.13%.

Average Sale Prices:

The next metric we will look at is the average sale prices.  For December of 2013 the average sale price for Nashua, NH was $246,550 and by December 2014 that was down to $234,456.  That would be a similar decrease of 4.91%.

Average Days on Market:

The final metric we look at are the days on market.  The days of market (DOM) is a measure of how long it is takes for a house to sell in the market.  For Nashua, NH the average days on market in December of 2013 was 57.04 and the average days on market for December 2014 were 65.02, for a modest 13.99% increase. However, as we have seen in several of our previous posts for the municipalities of AbingtonBedford, Seekonk, BelmontTopsfield, Canton,  Dracut (Condos)HamiltonWakefield, Amesbury (Condos), Dracut #2, Taunton , Reading, Stoughton, Wrentham, Stoneham and Dedham an outlier can skew the data.  That again is the case for Nashua, NH.  In this case it is the 2014 data that is skewed.  We will see that this marginally changes the observation that days on market are up. In 2014 there was one place that was very high at 450 days, this was just slightly less than 200 more than the next highest.  When we remove this point the other 54 houses were left with an average of 57.89.  If we use that instead we see that DOM increased by negligible 1.49%.  So if we agree that point is an outlier the DOM was pretty much stagnant with just that tiny increase.

Nashua, New Hampshire Summary:

The Nashua, New Hampshire real estate market has cooled off slightly since last year.  The small declines in both listed and sale prices indicate this.  The days on market were pretty much steady which at least indicates that things are not going faster than in the past. In summary if you are looking to sell a house in Nashua, NH now you should expect to get a little bit less for it than you would have last year.  However you should not need to take a large discount off of your initial price to avoid sitting on it for any longer if you have it priced well since things are still moving.

 

Do you need to sell your Nashua, 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: Nashua River Dam in 2006 by David Braverman via Wikipedia)    

 

Real Estate Trends – Hudson, New Hampshire

Introduction:

In this market report we will be taking our first look at a community in New Hampshire.  We do most of our work in Massachusetts and have focused on that state for the most part previously.  However we do look for properties in New Hampshire as well and will continue to do reports for those communities as well, just less frequently. Today we’ll take a look at Hudson, NH in Hillsborough County. Alvirne High - Hudson NH Real Estate

Market Trends in Hudson, NH – October 2013 and 2014:

The market in Hudson is definitely down since last year.  Both list and sale prices have fallen substantially.  Days on market in Hudson though have actually decreased significantly so that is one good point for people that want to sell their Hudson, NH house this year.  Volume is also up going from 17 sales in 2013 to 21 in 2014, the additional inventory could be one reason that prices have fallen.

Average Listing Prices:

First let’s look at the average listing price, which for Hudson, NH went down quite a bit year over year.  In October 2013 the average listed price for Hudson, NH was $321,782; and in October 2014 it was all the way down to $249,524. This is a gigantic decrease of 22.46%, which is a clear cut indicator of a slowing market.  Nothing to say that is to nuanced with this analysis, prices have been falling and the listings are just following the trend.

Average Sale Prices:

Next let’s look at the average sale prices.  In October 2013 the average sale price for Nashua, NH was $313,582.  Then in October 2014 it was down to $246,751. This represents a 21.31% decrease, which is only marginally less than what we saw with the listing prices.  This just solidifies what we would have expected given what we saw with list prices that the Hudson, NH market has seen significant price reductions in the market since last year.

Average Days on Market:

The other major aspect to look at with the market is how long it is taking sellers to move their properties.  This is measured by days on market, which n the case of Hudson, NH is actually down a lot since last year.  While prices are down quite a bit at least for those trying to sell their property if it is priced correctly for the new market they do seem to be selling in a reasonable amount of time.  For Hudson, NH the average days on market for October 2013 was 61.18 but in 2014 that was down to 38.48, or a 37.10% decrease. We have seen in several of our previous posts that outliers can really skew the data.  That is not the case here for Hudson, NH.  In this case there were a fairly good number of sales in both years and neither had any that were well out of line.  In fact looking at the 2013 sales 5 of the 17 had days on market over 100 but the highest was only 150 so the data was pretty stable.

Hudson, New Hampshire Summary:

Despite places selling a bit faster than last year the Hudson, New Hampshire real estate market has slowed down significantly year over year.  The more than 20% declines in prices indicate that sellers may have missed out on what might have been a 2013 price peak.  The saving grace again is the lower days on market which does show that if you price a place correctly it will still sell and quicker than last year.  Also taking a look at the sale to list ratio, in 2013 places were selling for about 97.45% (Which is not bad at all!) but in 2014 it was up to 98.89% which means almost everything is selling just about at the listing price. In summary if you are looking to sell your Hudson, NH home now you should expect to get less, maybe a lot less, than you would have last year. However, if you do price it right you should hopefully sell it relatively quickly and without much of an additional discount.

 

Do you need to sell your Hudson, 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: Alvirne High School by Bnag via Wikipedia)