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Today’s Market For NH Real Estate

Comments Off on Today’s Market For NH Real Estate 22 May 2011

This article focuses on specifics about the state of New Hampshire and real estate market statistics. There’s a great deal of data that could be included however this article will review only the major metrics which are widely considered probably the most relevant in the industry.

New Hampshire is among the six New England states and shares a border with Maine, Massachusetts, & Vermont. It’s got a population of just about 1,316,000 people as in the 2010 census with an median income of $60,000 annually. The vast majority with the population and thus the majority of the homes are situated within the southern area with the state distributed amongst the cities and their suburbs. The largest cities in the state are Manchester, Nashua, Concord, Portsmouth, & Salem.

New Hampshire real estate has taken a fairly close route of decline, although it isn’t 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 selling reported including residential, condo, & manufactured housing classes. The median sales price was $185,000 across all property types. The number of homes sold was lower around 1.5% from 2009 while the average selling price was unmoved.

Additional NH real estate analytics worthwhile of referencing are generally the average days on market(DOM) and the sales price per square foot(PSF). The average days on market was about 150 on the year. This is a vital number to home sellers seeing that it provides them with an indicator of approximately the span of time it takes them to sell their house. So it may take an average of 5 months to sell a building. Naturally there are lots of circumstances where it takes a lesser amount of time and conditions where homes take longer. In addition keep in mind that a lot of homes don’t sell whatsoever and those homes aren’t going to be measured within the DOM figures.

Average selling price per square foot can be a concept utilized to roughly idea the value of a single home vs . another. It is pretty easy to reach the figure assuming the calculation is performed consistently. There is much debate about whether to use total square feet in the building(included any unfinished or below grade space) as well as to calculate just the finished space and above grade space. There isn’t any positively proper technique to arrive at this figure, having said that the most typical course of action requires you to divide the sales price by the quantity of finished above grade square feet in a property. Use this figure primarily to get a general estimate given that numbers can be blatantly skewed by modest homes that may have exceptionally high quality finish work or conveniences which drive up the selling price as a result PSF.

The NH real-estate market continues to experience some decline and it is more likely to proceed for another 12-18 months. At that point most analysts expect to see to experience a slow flattening of prices before any hope of some rise in home values.

If you’d like to view all New Hampshire Real Estate visit www.nhhomepro.com, and get alerts, save favorites, and keep in tune with the NH Real Estate market.

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