Merrimack, New Hampshire Real Estate Market Update - YTD (10/31/09)

As of October 31, 2009 there were 97 active home listings with an average asking price of $343,952. Homes have been on the market for 97 days. 18 homes were under contract that were listed (on average) at $254,806 and a DOM of 102. There were 63 condominiums for sale at an average list price of $192,087 and have been on the market for 130 days. 7 units were under contract at an average list price of $184,836 and a DOM of 68. Visit Merrimack NH real estate for community, demographic, school and relocation information that may effect property values.

The year to date sold transactions indicate that the Merrimack real estate market may be turning for the better. Activity is up over 2008 with 175 homes closed as compared to 143 sold in 2008. This is an increase of 21% in transactions. The average sales price is slightly lower at $269,668 from the 2008 average of $275,650. Both the days on market and list to sell ratio were relatively the same for both years. The fourth quarter report will determine whether or not the Merrimack market has seen a bottom.

Condominium activity in Merrimack NH has increased from 2008 to 2009. The number of units sold were up 20% from 91 units in 2008 to 108 in 2009. However, the average sales price has declined substantially from $189,861 to $153,269. The sales pending at and average price of $184,386 indicate a turn in the market may have occurred. Merrimack foreclosures have contributed to the increase in units sold and the decrease in values. In 2007, there were 201 units sold over the same time period at an average sales price of $189,040.  As a first-time home buyer, you may find that owning is financially feasible with historically low interest rates and the drop in sales prices.

Information for this report was obtained from the NH MLS system (NNEREN) and is not guaranteed to be accurate. To view information about NH real estate and other communities in NH, please visit Virtual Homes real estate. The New Hampshire MLS map search provides direct access to all listings in NH by location. You may view bank owned property in each town through the New Hampshire foreclosure site.