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 – 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 – 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)