New Hampshire Real Estate Market Update - Q3 2010

The New Hampshire real estate market experienced a downturn in third quarter as transactions dropped sharply as compared to 2009,  Both single family homes and condominium sales were soft however prices continued to stabilize.

Third quarter market statistics represent the "summer market" which is typically a slower market.  It is important to review and understand the previous years activity over the same time period.  The peak activity for transactions and average sales prices over the last four years occurred in 2007.

The NH first quarter reports a substantially different picture with increased transactions over 2009 and property values remaining stable.  The Q2 report could be a sign of difficult times ahead.

Market data reports 2,721 2010 home sales as compared to 3,279 in 2009.   This represents a 17% decrease in sold home transactions.  The high point was in 2007 with 3,513 homes sold.  Average sales prices increased over 2009 with values rising from $248,572 to $261,587.  Days on market changed from 105 days to 110 days.

In 2010 third quarter, there were 586 closed transactions as compared to 796 units sold in 2009. This represents a 25% decline in sales activity. The average selling prices remained relatively unchanged and the DOM (days on market) increased from 136 to 151.

The data for this report was obtained from the New Hampshire MLS (NNEREN) system and is not guaranteed to be accurate.