Nashua NH Real Estate 2009 Annual Report

The Nashua NH real estate market annual sales activity indicates that the market is improving while sending mixed messages. Sales volume has increased over 2008 while the average selling prices are in decline.  The strength of the market this past year was in the entry level where first time home buyers were taking advantage of the incentives in the marketplace.  The interest rates remained very low (often under 5%) and the $8000 tax credit motivated buyers to act.  Fourth quarter activity made up for the first quarter lack of sales and indicates that prices are stabilizing.

There were 526 homes sold in 2009 as compared to 486 in 2008.  The peak for sales activity in the last four years occurred in 2006 with 579 homes sold.  The average sales price dropped -9% from $267,869 to $243,159 and the days-on-market improved from 100 to 90 days.  The average sales price in 2006 was $310,978 which converts into a -22% drop in value from the peak.  Average sales prices will not increase until the move-up buyer and new construction sales become active.  Prices at the lower level are stable but sales in the mid to higher end have shown a greater reduction in value. 

Nashua community, school, relocation, demographic, home buying and selling information can be viewed at Nashua NH real estate. 

Sales activity improved in 2009 from 273 units sold to 329.  In 2006, the peak of the condo market, 447 units sold at an average sales price of 213,715.  The average sales price for Merrimack condos sold in 2009 was at $179,916 and were on the market for 100 days.  The sales price to list ratio dropped slightly to 96%.  The Nashua foreclosures have had a major impact on condos and more than in the single family segment of the market.  New FHA financing guidelines will have a greater effect in 2010 as qualifying will be more difficult for condominium buyers.  The 2009 fourth quarter activity is following the trend for the year with values decreasing so we must look to 2010 first quarter reports to determine if we have seen the bottom.

Information for this annual report was obtained from the NH MLS system and is not guaranteed to be accurate.  Current inventory of available Nashua homes and condos may be viewed at Nashua NH Real Estate, NH MLS.