Are Real Estate Sales Strengthening or Slipping?
Wondering how the real estate market is doing these days? Using data in our MLS, it appears that sales have nudged up from 2009, based on data from 8 towns –Bradford, New London, Newbury, Sunapee, Sutton, Springfield, Warner, Wilmot. From Jan. to July 1, 2009, a total of 85 homes sold with a 90% list to sell ratio, and an average of 194 days on market. In 2010, same time frame, 109 homes sold with a 92% list to sell ratio and an average of 212 days on market. Looking at the big picture, in these 8 towns, a total of 219 homes sold in 2009. Currently there are 431 houses for sale. With supply exceeding demand, this will most likely
put downward pressure on home prices.
Home sales will continue to be influenced by economic factors such as the unemployment rate and the stock market. Obviously no one has a crystal ball to really predict what the future market will look like. However, NHAR President Monika McGillicuddy is optimistic that the low interest rates, relatively low prices, and substantial inventory will continue to lead towards a gradual improvement of the real estate market.
Donna Forest, Broker Associate