NH Real Estate Market (Dublin: sale, house, income)
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
My mom lives in NV and her town house sold in less than 24 hours at over 10k their asking price. They made a tidy sum of money for sure. Wishing I would of invested in some real estate. here in Oregon I don't think there is any softening yet. prices are quite outrageous, so much so that we cannot afford to buy a house.
I am wondering if the real estate market is slowing in NH. Generally speak, I've seen reports that the overall market is slowing; more inventory and there are more price reductions. But, as we know, all real estate is local, so I was wondering if the real estate is slowing in different parts of NH.
I am wondering if the real estate market is slowing in NH. Generally speak, I've seen reports that the overall market is slowing; more inventory and there are more price reductions. But, as we know, all real estate is local, so I was wondering if the real estate is slowing in different parts of NH.
Some of the price reductions are because sellers are getting overly greedy and putting big numbers on their homes trying to ride this real estate wave...inventory is still tight, and if a home is priced correctly, it will sell quickly.
I am wondering if the real estate market is slowing in NH. Generally speak, I've seen reports that the overall market is slowing; more inventory and there are more price reductions. But, as we know, all real estate is local, so I was wondering if the real estate is slowing in different parts of NH.
The only reason it's "slowing" at least in Grafton County is that inventory has been reduced to forested lots, ancient mobile homes, dumps, and $800K homes. There's nothing out there that most people would want to or could afford to buy.
A new report on home sales from the New Hampshire Association of Realtors shows property sales are down from last July, but prices are up.
Last month, nearly 400 fewer sales were closed when compared to July 2020. That is a drop of 15% in sales, but the median sales price, however, was almost $61,000 more, an increase of more than 18%.
"We're seeing a little bit of balance, fortunately, for some buyers in the state. We're seeing a little less attendance at open houses, a lot more New Hampshire license plates and less Massachusetts, Connecticut license plates," said Adam Gaudet from 603 Birch Realty.
Inventory was down from last year too, but that trend line is moving.
"So, while the inventory was really low in the beginning of the year, we're seeing a much greater increase each week," Gaudet said. "Let's say in the beginning of the year it was hovering around 1,000 single-family homes for sale any given week. Now, we're more around 1,800 for sale."
Single-family homes in Carroll County saw the biggest price jump. People there are paying almost 34% more than they did last July.
that inventory has been reduced to forested lots, ancient mobile homes, dumps, and $800K homes. There's nothing out there that most people would want to or could afford to buy.
The "ancient mobile home" is a bargain if it is on its own property, has a well, and has a septic system.
Just tear down and replace. Replace with a modern manufactured home, modular home, or stick built.
Thank you for referencing the WMUR article regarding the state of NH real estate market. It substantiates my casual observations for the month of July noting slightly more inventory, and we are seeing that continuing thus far in August as well. We are also seening many homes being returned to market after 7-10 days of going under agreement which suggests Home Inspection discoveries that are unable to be negotiated. I see this overall softening of the market as being typical of what we see in late summer. And while the market still favors sellers, this healthy and necessary correction means that buyers who were shut out of the market now have a chance to take advantage of historically low mortgage interest rates. This is a good thing
A new report on home sales from the New Hampshire Association of Realtors shows property sales are down from last July, but prices are up.
Last month, nearly 400 fewer sales were closed when compared to July 2020. That is a drop of 15% in sales, but the median sales price, however, was almost $61,000 more, an increase of more than 18%.
"We're seeing a little bit of balance, fortunately, for some buyers in the state. We're seeing a little less attendance at open houses, a lot more New Hampshire license plates and less Massachusetts, Connecticut license plates," said Adam Gaudet from 603 Birch Realty.
Inventory was down from last year too, but that trend line is moving.
"So, while the inventory was really low in the beginning of the year, we're seeing a much greater increase each week," Gaudet said. "Let's say in the beginning of the year it was hovering around 1,000 single-family homes for sale any given week. Now, we're more around 1,800 for sale."
Single-family homes in Carroll County saw the biggest price jump. People there are paying almost 34% more than they did last July.
[quote=Valerie C;61533702]In the past 3 or so weeks, we are starting to see an ever so slight softening in the market here in Southern NH. Don't get too excited just yet - many properties are still going under agreement in <10 days with multiple offers, but whereas earlier this year we were seeing sometimes 30+ offers, inspection contingencies being waived, non-refundable deposits and appraisal gaps being covered by buyers, now we are seeing fewer offers with more typical contingencies. IMO this is a good thing. While some sellers will be unhappy to now not be able to unload the home they've owned for decades but never bothered to upgrade the single-pane windows or the 30+ year old septic system without a pesky inspection. Many of those eyes wide shut buyers who bought sight unseen with no inspections may have some buyers remorse after a couple of NH winters...[/QUOTE]
We are also seening many homes being returned to market after 7-10 days of going under agreement which suggests Home Inspection discoveries that are unable to be negotiated.
If this part is true, and it probably is, it is also a good thing. Things may have slowed down enough that prospective buyers are not insane enough to waive inspection contingencies.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
