Market Trends
 There’s
no doubt about it we are experiencing a shift in the market, however,
the Upper Valley has been spared the free fall seen in many parts of the
country. We’ve just come off a market of low inventory which frankly
created a lot of headaches for buyers. Multiple offers, fewer options
and little time to think made for a crazy market.
We now have entered into a more balanced market. Yes this will cause
home prices to fall, however, based on the last 12 months sales data not
by much. (see market data report). Using the 20 or so communities
sampled the average sales price has dipped by only 6%. This combined
with an increase in the days on market to about 4 months has created
some much needed breathing room for buyers.
If you’ve been dreaming about a larger home, believe it or not, now’s a
great time to consider “buying up”. Many people mistakenly believe that
they need to make a killing on the sale of their existing home to be
able to purchase their dream home. The effect of a declining market is
much more substantial on more expensive homes. For example, if your
dream home in the past was valued at $500,000 and your current home
could be sold for $300,000 you’d need $200,000 in additional monies to
purchase. However, if the market drops by 6% you’ll save $12,000 on the
amount of money you’ll need to purchase that home. Combined with low
interest rates your opportunity might never be better.
No matter what your plans are you should consider contacting one of our
RE/MAX Upper Valley housing specialists to guide you through this
changing market.
Gerry Stark
Principal Broker
|
Twelve Months Sales Data |
|
|
|
|
|
|
|
|
|
11/30/06 to 11/30/07 vs 11/30/05 to 11/30/06 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Town |
units |
% |
units |
% |
Avg sale |
% |
Med Sale |
% |
DOM |
% |
|
|
listed |
change |
sold |
change |
price |
change |
Price |
change |
|
change |
|
|
|
|
|
|
|
|
|
|
|
|
|
Canaan |
|
|
|
|
|
|
|
|
|
|
|
2007 |
71 |
-8% |
47 |
-2% |
$186,266 |
1% |
$180,000 |
-3% |
199 |
84% |
|
2006 |
77 |
|
48 |
|
$184,912 |
|
$186,250 |
|
108 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Claremont |
|
|
|
|
|
|
|
|
|
|
|
2007 |
270 |
19% |
118 |
-13% |
$176,864 |
13% |
$159,950 |
3% |
107 |
41% |
|
2006 |
227 |
|
135 |
|
$156,575 |
|
$155,000 |
|
76 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cornish |
|
|
|
|
|
|
|
|
|
|
|
2007 |
18 |
-42% |
5 |
-74% |
$196,860 |
-25% |
$193,000 |
-10% |
97 |
24% |
|
2006 |
31 |
|
19 |
|
$262,629 |
|
$215,000 |
|
78 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Enfield |
|
|
|
|
|
|
|
|
|
|
|
2007 |
103 |
-16% |
60 |
2% |
$270,330 |
22% |
$229,500 |
11% |
137 |
67% |
|
2006 |
122 |
|
59 |
|
$221,633 |
|
$207,000 |
|
82 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Grantham |
|
|
|
|
|
|
|
|
|
|
|
2007 |
143 |
-16% |
68 |
-24% |
$297,511 |
-10% |
$280,000 |
-8% |
184 |
50% |
|
2006 |
171 |
|
90 |
|
$331,290 |
|
$305,000 |
|
123 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hanover |
|
|
|
|
|
|
|
|
|
|
|
2007 |
119 |
-9% |
87 |
9% |
$571,821 |
4% |
$480,000 |
-6% |
117 |
29% |
|
2006 |
131 |
|
80 |
|
$548,488 |
|
$510,000 |
|
91 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lebanon |
|
|
|
|
|
|
|
|
|
|
|
2007 |
131 |
-36% |
101 |
-14% |
$290,663 |
8% |
$265,000 |
7% |
121 |
|
