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.

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(Image credit: Nashua River Dam in 2006 by David Braverman via Wikipedia)