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)

 

Real Estate Trends – Salem, 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 changed has and then evaluate what those observations might mean for that market moving forward.

Today we are once again highlighting the market in Salem, NH in Rockingham County

 Salem NH Town Seal - Salem New Hampshire Real Estate

We took a look at the Salem, NH market back last June where we saw a fair decline in the market.

Market Trends in Salem, NH – February 2015 and 2016:

The Salem, NH market has fallen off somewhat since last year.   The average prices were down significantly and the median prices were down as well.  The days on market were down a little, and the initial numbers might be a bit understated.  Inventory was up a little with 14 sales in February of 2015 and 16 in February 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Salem, NH the average listing price in February 2015 was $311,686.  This was down to $255,181 in February 2016.  This gives a very big decrease of 18.13% year over year. 

Looking at the median prices we see that it was much lower in 2015 and slightly higher in 2016.  For February of 2015 the median listing price for Salem, MA was $269,950 and in February 2016 it was $259,950 which now gives a small decrease of 3.70%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Salem, NH in February of 2015 was $308,893 and in February 2016 that was down to $248,131.  That gives a bit higher decrease of 19.67% compared to the average list price. 

We see the same pattern that we did with the listing prices for the median sale prices.  For February of 2015 the median sales price for Burlington, MA was $269,750 and in February 2016 it was $253,000 giving another smaller decrease of 6.21%. 

Prices are down at least some in Salem, NH.  The averages make it look like things are really tanking but the medians show a much more modest decline.  This is a classic example of why medians are generally preferred for this type of analysis.  In this case 2015 had one sale that was a much, much higher than any other in either year and also had the 2nd highest sale, which was also quite a bit higher than all the other ones too.  So using the medians minimizes the influence they have in skewing the numbers unreasonably high.  So while it is worth noting that the high end of the market went away this year overall the medians give a much more accurate picture.  Given these facts the median sale price decline of a little over 6% is probably where the market lies rather than the close to 20% drops seen with 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 property to sell in the current market.  For Salem, NH the average days on market in February of 2015 were 87.93 and the average days on market for February 2016 were 79.19 for a fairly small 9.93% 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) and Burlington #2 outliers in the data can really skew these numbers.  This again is the case for Salem, NH in February.  In this instance there was a very high days on market place in 2016.

In 2016 there was a property with 703 days on market; this was more than the other 15 properties combined and almost 55.5% of the total days on market for all 16 Properties.  When removed the new calculation for the remaining 15 properties gives an average days on market of 37.60. 

Using the adjusted numbers we now get a much higher decrease of 57.24%.  This does not change the general conclusion of the days on market were down, however instead of the initial thought that they were only down a small bit we now see they look to be down a very significant amount. 

Salem, New Hampshire Summary:

The Salem, New Hampshire real estate market is down some since last year.  The average prices were down a lot with the median prices were down as well, but much less.  The days on market were down significantly, which was a little surprising with the prices drops.  This also can be an argument that it is not down much if at all.  We would disagree with this conclusion but such a large drop in the days on market does lessen the impact of the lower prices in a meaningful way. 

In summary if you are looking to sell a house in Salem, NH now you should expect to get at least a little bit less for it than you would have gotten last year.  However, you can also expect it to take much less time to sell compared to last year as well. 

 

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

 

Real Estate Trends – Londonderry, 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 Londonderry, NH in Rockingham County

 Londonderry NH Seal - Londonderry New Hampshire Real Estate

Market Trends in Londonderry, NH – January 2015 and 2016:

The Londonderry, NH market has fallen off significantly since last year.   The average prices were down a lot and the median prices were down even more.  The days on market also appear to be up a tad though.  However this appears to be misleadingly understated.  Inventory was up significantly going from 10 sales in January of 2015 to 17 in January 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Londonderry, NH the average listing price in January 2015 was $378,656.  This was down to $292,559 in January 2016.  This gives a huge decrease of 22.74% year over year. 

Looking at the median prices we see that it was higher in 2015 and was lower in 2016.  For January of 2015 the median listing price for Londonderry, NH was $403,450 and in January 2016 it was $274,000 which gives a much larger decrease of 32.09%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Londonderry, NH in January of 2015 was $380,104 and in January 2016 that was down to $289,838.  That gives a slightly larger 23.75% decrease compared to the average list price. 

We see the same pattern with the median sale prices as we did for the listing prices.  For January of 2015 the median sales price for Londonderry, NH was $398,142 and in January 2016 it was $274,000 giving another larger decrease of 31.18%. 

All the pricing metrics are showing prices are down significantly year over year for Londonderry, NH in January.  There is a sizable gap between what the averages and the medians indicate though.  Medians are the preferred way to look at things so we would say that those will give the more accurate representation of what is going on.  While the decreases shown by the averages of 22-24% are very large the 31-32% drop seen with the medians is probably more accurate for Londonderry, NH this month.

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 Londonderry, NH the average days on market in January of 2015 were 71.60 and the average days on market for January 2016 were 79.59 for a minor 11.16% increase. 

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 and Holliston outliers in the data can really skew these numbers.  This again is the case for Londonderry, NH in January.  In this instance there was a very high days on market place in both 2015 and 2016.

In 2015 there was a property with 447 days on market; this was a bit more than the other 9 properties combined and over 62% of the total days on market for all 10 Properties.  When removed the new calculation for the remaining 9 properties gives an average days on market of 29.89. 

In 2016 there was a property with 324 days on market; this was a bit more than the next 2 properties combined and almost 24% of the total days on market for all 17 Properties.  When removed the new calculation for the remaining 16 properties gives an average days on market of 64.31. 

Using the adjusted numbers we now get a huge increase of over 115%!  This completely changes the conclusion of the days on market being up a small amount.  Instead of a fairly meaningless bump the days on market now appear to have more than doubled.  This is definitely consistent with the large prices drops seen.

Londonderry, New Hampshire Summary:

The Londonderry, New Hampshire real estate market is down significantly since last year.  The average prices were way down and median prices were down even more.  The days on market were also up a huge amount as well, further supporting a conclusion of the market being down substantially.

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

 

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

 

Real Estate Trends – Seabrook, 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 Seabrook, NH in Rockingham County

Seabrook NH Nuclear Power Plant - Seabrook New Hampshire Real Estate  

Market Trends in Seabrook, NH – November 2014 and 2015:

The Seabrook, NH market has fallen off quite a bit since last year.   The average prices were both down a bit while the median prices were down by even more.  The days on market look to be down a huge amount but there were a lot of issues with skewed data that we will discuss below.  Inventory was pretty consistent going from 6 sales in November of 2014 up to 7 in November 2015. 

Average Listing Prices:

To start off first we are going to look at the average listing price.  For Seabrook, NH the average listing price in November 2014 was $706,600.  This was down to $611,943 in November 2015.  This gives a large decrease of 13.40% year over year. 

Looking at the median prices we see that it was much smaller than the averages both years.  For November of 2014 the median listing price for Seabrook, NH was $589,900 and in November 2015 it was $360,000 which now gives a much larger decrease of 38.97%.

Average Sale Prices:

Next up we will be looking at is the average sale prices.  The average sale price for Seabrook, NH in November of 2014 was $673,008 and in November 2015 that was down to $577,613.  That gives another noticeably large decrease of 14.17%. 

We see a similar pattern with the median sale prices as we did for the listing prices for both years.  For November of 2014 the median sales price for Seabrook, NH was $586,575 and in November 2015 it was $321,000 giving another significantly larger decrease of 45.28%.

There is no doubt that prices are down significantly in Seabrook, NH this month.  You see a pretty dramatic difference if you look at the averages or at the median numbers.  While still a considerable drop the averages are saying things are down around 14% while the medians are saying as much as 45%.  This is a perfect example of why the medians are the favored metric generally for real estate price analysis.  In this case there was a single sale in 2015 for over 2 million dollars and was more than the total paid for the other 6 sales, so the average is highly skewed that year, with it being over than $160K MORE than the 2nd highest sale.  This is clearly not indicative of the market in general.  Based on this observation we would concur with the normal preference for median prices and say that for November prices in Seabrook are down over 40%.

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 Seabrook, NH the average days on market in November of 2014 were 187.5 and the average days on market for November 2015 were 52.0 for a vey large 72.27% 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) and Belmont #2 outliers in the data can really skew these numbers.  This again is the case for Seabrook, NH in November.  In this instance there was a very high days on market place in the data for both years.

In 2014 there was a property with 630 days on market; this was more than the other 5 properties combined and 56% of the total days on market for all 6 Properties.  When removed the new calculation for the remaining 5 properties gives an average days on market of 99.0. 

In 2015 there was a property with 172 days on market; this was almost as much as the next 4 properties combined and over 47% of the total days on market for all 7 Properties.  When removed the new calculation for the remaining 6 properties gives an average days on market of 32.0. 

Using the adjusted numbers we now get a slightly smaller decrease of 67.68%.  This does not change the conclusion of the days on market being down a lot as the adjustments in both years mostly canceled each other out in terms of the percentage change.    

Seabrook, New Hampshire Summary:

The Seabrook, New Hampshire real estate market is down a tremendous amount since last year.  The average prices were down significantly and the median prices were down by huge amounts.  The days on market were down a lot though.  That is nice for a seller but does not even start to make up for price drops of over 40%. 

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

 

Do you need to sell your Seabrook, 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: Seabrook Nuclear Power Plant 2009 by Jim Richmond via Wikipedia)

 

Real Estate Trends – Windham, 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 Windham, NH in Rockingham County

 Windham NH Historic District Sign - Windham New Hampshire Real Estate

This is our first time going for a 2nd look for a place up in New Hampshire.  Back in June we saw that Windham, NH was down a lot that month with prices slipping about 13% by the averages and just under 20% by the medians.  Let’s see where it stands in the fall.

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

The Windham, 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 appear to be up significantly as well.  Inventory was up a lot with 16 sales in October of 2014 and 25 in October 2015. 

Average Listing Prices:

To start off first we are going to look at the average listing price.  For Windham, NH the average listing price in October 2014 was $512,136.  This was down to $423,680 in October 2015.  This gives a very significant decrease of 17.27% year over year. 

Checking out the median prices as well, we see that they are quite a bit different than the averages in both years, but not in the same directions.  For October of 2014 the median listing price in Windham, NH was $582,000 and in October 2015 it was $399,900 giving a much larger decrease of 31.29%.

Average Sale Prices:

Next up we will be looking at is the average sale prices.  The average sale price in Windham, NH in October of 2014 was $509,604 and in October 2015 that was down to $413,667.  That gives a slightly smaller decrease of 18.83%, 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 Windham, NH was $570,000 and in October 2015 it was $384,000 giving another significantly larger decrease of 32.63%, which is the highest of the 4 items examined here.

There is no arguing that the Windham, NH real estate market is down a lot this month from last year.  All the indicators say prices are down from close to 20% to over 30%.  Since the median prices are generally favored in these analyses we will give more weight to those and since they were down even more than the averages we would conclude that prices are down more like the 30% indicated by those than the still very large near 20% drops seen in 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 Windham, NH the average days on market in October of 2014 were 46.06 and the average days on market for October 2015 were 110.00 for a huge 139% increase!

Windham, New Hampshire Summary:

The Windham, New Hampshire real estate market is down tremendously since last year.  The average prices are down almost 20% and the median prices were down even more at over 30%!  The days on market were also up a very significant amount further showing the fall in the market.  

In summary if you are looking to sell a house in Windham, 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 much longer to sell compared to last year too.  With prices down and properties sitting on the market a long time this is a situation where sellers might want to consider taking more of a discount to keep from holding the property for a very long time.

 

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 Historic District Sign via Trash Can Willy’s)

 

 

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.

Please share your questions and comments below.

 

 

 

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

 

 

Real Estate Trends – Salem, 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 Salem, NH in Rockingham County

 Canobie Lake Corkscrew - Salem NH Real Estate

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

The Salem, NH market appears to be down some since last year.  Both the average listing and sale prices were down, though the days on market were down some year over year.  Inventory rose dramatically going from 19 sales in May of 2014 to 34 in May 2015. 

Average Listing Prices:

First we are going to look at the average listing price.  For Salem, NH the average listing price in May 2014 was $326,683.  This was down to $301,074 in May 2015.  That gives a meaningful 7.84% decrease year over year. 

Average Sale Prices:

Next we will look at the average sale prices.  The average sale price for Salem, NH in May of 2014 was $328,118 and in May 2015 that was down to $297,465.  That gives an even larger decrease of 9.34%, which again is pretty significant. 

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 Salem, NH the average days on market in May of 2014 were 70.37 and the average days on market for May 2015 were 68.85, for a trivial 2.16% 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, Beverly,  Framingham (Condos), Plymouth County (Condos), Marlborough, Billerica, Waltham, Dracut (Condos) #2, Derry, NH, Framingham, Burlington, Duxbury, Acton #2 , Taunton (Condos), Tyngsborough and Milton outliers in the data can really skew these numbers.  This again this is the case for Salem, NH for May.  In this case there was a very high days on market house in the 2015 data.

In 2015 there was a house with 538 days on market; this was higher than the next 2 combined and almost 23% of the total days on market for all 34 houses.  When removed the new calculation for the remaining 33 houses gives an average days on market of 54.64.  Using this adjusted number we see that the flat days on market now becomes a much more significant, 22.35% decrease.  This changes the general thought that things are selling about as fast as last year.  In fact things have sped up and are selling a fair bit faster than in 2014. 

Salem, New Hampshire Summary:

The Salem, New Hampshire real estate market looks like it has fallen off some since last year.  The fairly large drops in listing prices and sale prices show this pretty clearly.  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 Salem, 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 at this new lower level.

 

Do you need to sell your Salem, 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: Canobie Lake Park Corkscrew via Wikipedia)

 

Real Estate Trends – Windham, 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 Windham, NH in Rockingham County

 Windham NH Town Seal - Windham New Hampshire Real Estate

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

The Windham, NH market appears to be down quite a bit since last year.  Both the average listing and average sales prices were down significantly, though the days on market were down some year over year as well.  Inventory rose dramatically going from 12 sales in May of 2014 to 22 in May 2015. 

Average Listing Prices:

First we are going to look at the average listing price.  For Windham, NH the average listing price in May 2014 was $492,116.  This was down to $431,427 in May 2015.  That gives a pretty large 12.33% decrease year over year.  Interestingly after generally seeing little difference using the average instead of the median numbers we see here that while the 2014 numbers are very close the 2015 medians are much lower than the average greatly amplifying the decrease we are seeing.  Using those median numbers we see prices as $499,498 in 2014 and $402,500 in 2015 for a very large 19.42% decline.

As a side note one of the things I do like about New Hampshire MLS data is that they give you both the average and median prices.  Unlike the Massachusetts system that only gives the averages and you need to figure out the medians yourself.  This is the major reason that we tend to reference both more often in our New Hampshire articles.

Average Sale Prices:

Next we will look at the average sale prices.  The average sale price for Windham, NH in May of 2014 was $493,909 and in May 2015 that was down to $426,864.  That gives an even larger decrease of 13.57%, which again is pretty significant. 

Not surprisingly we see a similar phenomenon when we look at the Median prices.  For the sale prices the medians were $496,800 and $398,750 for a very dramatic 19.74% change.

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 Windham, NH the average days on market in May of 2014 were 85.75 and the average days on market for May 2015 were 71.55, for a modest 16.56% decrease. 

Windham, New Hampshire Summary:

The Windham, New Hampshire real estate market looks like is has fallen off significantly since last year.  The very large drops in listing prices and sale prices show this very clearly.  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 Windham, NH now you should expect to get significantly 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 at this new lower level.

 

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 Seal via Wikipedia)

 

 

 

Real Estate Trends – Derry, New Hampshire

Introduction:

We and back for our latest real estate market trend report.  If this is your 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 the 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 then evaluate what those observations mean for that market moving forward. 

Today we are highlighting Derry, NH in Rockingham County

 

Know as “Spacetown” since it is the home town of Alan Shepard the first American in Space and later the oldest person to walk on the moon (and a distant relative of mine :) ).

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

The Derry, NH market appears to be down a lot since last year.  Both the average listing and average sales prices were down a large amount.  In addition to that the days on market are up quick a bit as well.  Inventory was also up quite a bit from 15 sales in March of 2014 to 23 in 2015. 

Average Listing Prices:

The first thing we are going to look at is the average listing price.  For Derry, NH the average listing price in March 2014 was $278,067.  This was down a bit to $257,577 in March 2015.  That gives a decline of 7.37%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for Derry, NH in March of 2014 was $278,452 and in March 2015 that was down to $251,600.  That gives a noticeably larger decrease of 9.64%.  With sale prices falling more than the listings local agents are chasing the market down which is further supported with what we will see about the day on market next.

Average Days on Market:

Finally we look at the average days on market, the measure of how long it takes for a house to sell in the current market.  For Derry, NH the average days on market in March of 2014 were 81.36 and the average days on market for March 2015 were 83.83, for a meaningless 3.04% increase. 

However, as we have seen so many times 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, Beverly,  Framingham (Condos), Plymouth County (Condos), Marlborough, Billerica, Waltham, and Dracut (Condos) #2 outliers in the data can really skew these numbers.  This again this is the case for Derry, NH.  In this case there was a very high days on market house in the 2014 data.

In 2014 there was a house with 440 days on market.  This accounted for over 36% of the total days on market for all 15 houses.  When removed the new calculation for the remaining 14 houses gives an average days on market of 55.71, a very significant decline.  Using this adjusted number we see the very small increase now become a fairly large 50.48% increase.  This does alter the observation somewhat.  While the basic conclusion that the days on market are up is the same it changes it from being a fairly insignificant change to being a pretty important increase.  This is also more consistent with the data on the declines in prices, as you would expect houses to take longer to sell when they are priced to high for the current market.

Derry, New Hampshire Summary:

The Derry, New Hampshire real estate market looks like is has dropped significantly since last year.  The sizable drops in listing prices and sale prices as well as the significant increase in days on market illustrate this point pretty clearly. 

In summary if you are looking to sell a house in Derry, NH now you should expect to get a bit less for it than you would have last year.  You should also seriously consider taking a discount off your expected price to avoid sitting on it for a long time. 

 

Do you need to sell your Derry, 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: Alan Shepard via Wikipedia)