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)