What is Up and Down at the Same Time?
If there are two things I would say about the real estate market today, it would be inventory is down and prices are up. This is seen pretty much everywhere in the US as housing inventory decreased 8% from last year (through March) and listing prices are 8% higher. Statewide, NH closed sales are about the same as last year, the median sales price is up 6% to $260,000 and the average days on market was 86 days. Looking at Newbury, New London, & Sunapee combined, sales are about the same as last year through 3/31/18 (25 solds), the average days on market was 192 days and the median sales price increased about 15% to $392,000. Despite fewer homes being on the market, buyer demand is strong enough to keep prices rising for the foreseeable future. New listings will favor higher income buyers making it very challenging to find homes priced under $200,000. Typically, our spring market will bring an influx of new properties for sale – we just need to have spring arrive!! Contact me if you are thinking about buying or selling and want to know how the market impacts you. 603-526-4116, www.DonnaForest.com, Donna@DonnaForest.com