NH Real Estate Market Update
New Hampshire is among the 6 New England states and shares a border with Maine, Massachusetts, & Vermont. It has a population of roughly 1,316,000 people as in the 2010 census with an average income of $60,000 annually. The vast majority with the population and consequently the bulk of the homes are situated within the southern section in the state spread between the cities and their suburbs. The most significant cities in the state are Manchester, Nashua, Concord, Portsmouth, & Salem.
New Hampshire real-estate has adopted a rather comparable route of decline, although it is not quite as dramatic as the national real estate market throughout the last five years. For the year in 2010 there were 16,140 real-estate sales documented between residential, condo, & manufactured housing types. The median selling price was $185,000 across all property types. The number of homes sold was lower roughly 1.5% from 2009 while the median selling price was the same.
Some other NH real estate analytics worthwhile mentioning are generally the average days on market(DOM) and the selling price per square foot(PSF). The average days on market was about 150 for the year. This is an important number to home sellers merely because it provides them a sign around how much time it should take them to sell their home. So it can take an average of 5 months to sell a property. Naturally there are many incidents where it takes a lot less time and occasions where homes take longer. Likewise observe that a good number of homes don't sell at all and those homes are not counted in the DOM figures.
Average selling price per square foot is seen as a strategy which is used to roughly idea the value of one particular home vs another. It is comparatively simple to arrive at the figure provided the calculation is completed consistently. There is much debate about whether to use total square feet within the building(included any unfinished or below grade space) as well as to count just the finished space and above grade space. There isn't any positively appropriate process to arrive at this number, however the most frequent course of action is generally to divide the selling price by the total of finished above grade square feet in a property. Use this figure primarily just for a general estimation considering numbers will often be grossly skewed by little homes who have high-caliber finish work or qualities which drive up the selling price for that reason PSF.
The NH real estate market persists to experience some devaluation and it is more likely to continue on for another 12-18 months. At that point most analysts call for to experience a drawn out flattening of prices before any hope of an rise in home values.
New Hampshire real-estate has adopted a rather comparable route of decline, although it is not quite as dramatic as the national real estate market throughout the last five years. For the year in 2010 there were 16,140 real-estate sales documented between residential, condo, & manufactured housing types. The median selling price was $185,000 across all property types. The number of homes sold was lower roughly 1.5% from 2009 while the median selling price was the same.
Some other NH real estate analytics worthwhile mentioning are generally the average days on market(DOM) and the selling price per square foot(PSF). The average days on market was about 150 for the year. This is an important number to home sellers merely because it provides them a sign around how much time it should take them to sell their home. So it can take an average of 5 months to sell a property. Naturally there are many incidents where it takes a lot less time and occasions where homes take longer. Likewise observe that a good number of homes don't sell at all and those homes are not counted in the DOM figures.
Average selling price per square foot is seen as a strategy which is used to roughly idea the value of one particular home vs another. It is comparatively simple to arrive at the figure provided the calculation is completed consistently. There is much debate about whether to use total square feet within the building(included any unfinished or below grade space) as well as to count just the finished space and above grade space. There isn't any positively appropriate process to arrive at this number, however the most frequent course of action is generally to divide the selling price by the total of finished above grade square feet in a property. Use this figure primarily just for a general estimation considering numbers will often be grossly skewed by little homes who have high-caliber finish work or qualities which drive up the selling price for that reason PSF.
The NH real estate market persists to experience some devaluation and it is more likely to continue on for another 12-18 months. At that point most analysts call for to experience a drawn out flattening of prices before any hope of an rise in home values.
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posted by Vittoria @ June 27, 2011
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