1. 2002          53          $150.16          80
2. 2003           80          $147.53         76
3. 2004           79          $152.09         64
4. 2005          115          $174.81         87
5. 2006           87          $162.69        102
6. 2007           62          $175.97        114
7. 2008           53          $147.16         122
8. 2009           46          $160.62         127

Based on 56 homes currently for sale in these three communities and the absorption rate of 2009 ( less than 4 homes per month) – we are looking at almost a 15 month supply of  high-end homes on the market in  Amherst, Nashua and Hollis.

The intra-community results for Amherst, Nashua and Hollis during 2009 for Number of  Homes Sold,  Median Selling Price,  Medium sq/ft size of home  and Selling Price per sq/ft   are as follows:

1. Amherst  -  18 sold,   $599,450   / 4,137 sq/ft    / $144.89  sq/ft
2. Nashua -      12 sold,   $568,750  / 3,475 sq/ft   /  $163.66  sq/ft
3. Hollis  -        16 sold,   $666,500 /  3,685 sq/ft   /   $180.87  sq/ft

FOURTH QUARTER COMPARISONS.  During the Fourth quarter of 2009 there were fifteen(15) Executive homes sold at a Median Price of $567,500 in Amherst, Nashua and Hollis.  Based on a median square footage of 3,570 sq/ft this translates to a Sell Price of $158.91  sq/ft.  Comparatively, during the Fourth quarter of 2008  there were ten (10) Executive homes sold in these three communities at a Median Price of $575,000.  Based on a median square footage of 3,968 sq/ft this translates to a Sell Price of $144.90.  Thus the Fourth quarter of 2009 favorably accounted for almost one-third of the annual volume and also evidenced a 9% pricing improvement from the previous year’s results  ( $158.91 vs $144.90) .

LOOKING FORWARD.   During the first quarter 0f 2009 there were only seven (7) high-end homes sold in the Amherst, Nashua and Hollis marketplace .  The Median Sale Price was $570,000 for a “typical” 4,230 square foot home – thus  translating to a Selling Price of $134.75 sq/ft.   ( It should be noted that this was the lowest quarter of 2009 for both units sold and sq/ft pricing).  At the time of this writing  ( 1/6/2010)   there are already seven ( 7) high-end homes under agreement ( median price of $169.76 sq/ft).   There are another fifty-six (56) high-end homes currently for sale in the three communities.  Coupled with the above results from the fourth quarter – it appears very promising that the bottom of the  market relative to sales activity has also been touched.    However – as always – we must wait for the facts to unfold.   Keep posted.

Based on information from the Northern New England Real Estate Network, Inc. for the period January 1, 2002 to December 31, 2009.

Contributed by Bill Spinelli, Associate Broker, Bean Group. For further inquiries or questions please e-mail at bill.spinelli@beangroup.com or call direct at 603-966-8088.

1. 2005   -  201  homes sold,    $457,000,    2,664   sq/ft,    $171.54  sq/ft,      56 – DOM
2. 2006    - 169  homes sold,    $505,000,     2,934  sq/ft,    $172.12  sq/ft,      95 -  DOM
3. 2007   -  152  homes sold,    $487,450,     2,962  sq/ft,     $164.56  sq/ft,   105 - DOM
4. 2008    - 142  homes sold,    $450,000,    2,886  sq/ft,     $155.92  sq/ft,   108 - DOM
5. 2009    – 136  homes sold,    $400,000,    2,799  sq/ft,     $142.90  sq/ft    106 - DOM

Thus,  although the number of homes sold ( sales activity) appears to have possibly stabilized  ( 136  vs 142)   - the Sell Price dropped almost  8.5% in 2009 (  $142.90  versus $155.92 in 2008).  Naturally, deeper analyses amongst specialized price ranges will yield varying results.

FOURTH QUARTER COMPARISONS.  Comparisons during this particular quarter  reveal encouraging signs. During the Fourth quarter of 2009, 41 homes were sold at a median price of $400,000.  With a median size of 2,624 sq/ft this computes to $152.44 per sq/ft Selling Price.   Comparatively, during the Fourth quarter of 2008,  only 35 homes were sold at a median price of $385,000.  With a median size of 2,901 sq/ft this computes to $132.71 per sq/ft Selling Price.  Thus the data shows a 17% increase in homes sold and almost a 15% improvement in Sell Price from the Fourth quarter of 2008.

LOOKING FORWARD.   During the First Quarter of 2009  – 22 homes were sold at an Median price of $416,000 and 2,830 sq/ft in size.  That  computed to a Sell Price of $141.06 per sq/ft.  ( It should be noted that the First quarter was the lowest relative to homes sold and Sell Price per sq/ft during 2009. ) .  At the current time ( 1/6/2010 ) there are 101 homes for sale in Windham versus 123 at the same time last year.  Also, at the current time,  there are 23 homes under agreement  which is encouraging from a Sales Activity standpoint.  However – at a potential median Sales Price per sq/ft of $131.54 or lower – there are continuing concerns relative to Sales Pricing in Windham, NH.  Therefore, (overall) continuing  Good News – Bad News ???  Only time will tell.  Keep posted.

Based on information from the Northern New England Real Estate Network, Inc. for the period January 1, 2005 to December 31, 2009.

Contributed by Bill Spinelli, Associate Broker, Bean Group. For further information or questions please e-mail to bill.spinelli@beangroup.com or call direct at 603-966-8088.

For comparison purposes, there were only 8 transactions in November of 2008, and the average length of time those sold properties were on the market was considerably shorter, 75 days versus 175 one year later.

The following properties sold during the month of November:

Oak Bridge

120 Fisherville Road, #80 – $74,350

Concord Commons

129 Fisherville Road, #35 – $104,000

Riverhill Condominiums

45 Bog Road, C-1 – $118,000

Franklin Square

15 Wyman Street, #52 – $125,500

15 Wyman Street, #21 – $120,000

The Vineyards

8 Merlot, #2 – $164,900

Turtle Pond Village

6 Judith Drive – $175,000

84 Branch Turnpike, #98 – $195,500

179 Mountain Road, #1 – $350,000

49 Misty Oak, #12 – $340,000

While median sales prices and number of sales were up, there were still two properties that were foreclosures and one property that was sold short (requiring the current lien holder to agree to the final sales price.  Property is typically sold for less than what is owed on it.

There are currently 75 condos for sale in the city of Concord, with a median list price of $154,200.  Those properties have been on the market for 227 days.   The trend over the last six month reflects a consistent increase in the number of days properties have remained on the market.

Based on information from the Northern New England Real Estate Network, Inc from November 1 – 30, 2009.

Contributed by Bethany L. Brenner, GRI, SRES, Realtor, Notary Public

Currently there are 53 Waterfront Properties for sale in Moultonborough, NH ranging in price from $339,900 to $9,900,000. The average price is $1,995,798 with a median price of $1,495,000. Average time on the market is 207 days.

There are 3 Waterfront Properties currently pending  with list prices ranging from $1,250,000 to $3,495,000 with an average time on market of 159 days.

There was 1 Waterfront Property sold in November in Moultonborough, NH with a selling price of $1,350,000.

Reported Moultonborough Waterfront Properties Sales In November 2009:

31 Matz Lane, Moultonborough, NH, a 3 BR Home, sold for $1,350,000.
Based on information from the Northern New England Real Estate Network, Inc. for the period November 1, 2009 to November 30, 2009.
Contributed By Glenn Smith, REALTOR, Bean Group

53 Evergreen Drive unit 3, Laconia, NH, a 2 BR condo, sold for $134,000
11A Constitution Way unit 11A, Laconia, NH, a 2 BR condo, sold for $160,000
30 White Oaks Road unit 8, Laconia, NH, a 2 BR condo, sold for $190,100
281 Davidson Drive unit B, Laconia, NH, a 3 BR condo, sold for $355,000
30A Heron Trace unit 30A, Laconia, NH, a 3 BR condo, sold for $375,000
44A Heron Trace unit 44A, Laconia, NH, a 3 BR condo, sold for $480,000

Based on information from the Northern New England Real Estate Network, Inc. for the period November 1, 2009 to November 30, 2009.
Contributed By Glenn Smith, REALTOR, Bean Group

Sales prices ranged from $255,000 to $645,000.  Buyers paid on average 91 percent of the listed sales price.

List of properties that sold in November:

120 Birch Acres  – $255,000

788 Little Sunapee Road – $295,000

108 Job Seamans Acres – $340,000

237 Brookside – $350,000

1886 King Hill Road – $507,000

881 Morgan Hill  – $522,000

315 Forest Acres Road – $527,500

22 Quail Run – $645,000

There are currently 69 homes for sale in New London with a median list price of $479,000.  These homes have been on the market for 214 days, a 12 percent increase over last month.

Based on information from the Northern New England Real Estate Network, Inc for Month of November 2009.

Contributed by Bethany L. Brenner, GRI, SRES, Realtor, Notary Public

Taking a less than 10 percent change over last month, the median sales price for properties sold was $190,000.  Home sales ranged from $70,000 to $542,000.

On average buyers paid 95% of the list the price for the homes they purchased.

Of the properties that sold in November:

11% were located in the South End

22% in the Penacook area

15% in East Concord

4% in Concord Heights

11% in West Concord

37% in other areas not necessarily grouped into the prior defined locations.

There are currently 175 single family homes on the market,  34 under contract having a median list price of $239,900.   The average number of days those properties have remained on the market is 314.

Based on information from the Northern New England Real Estate Network, Inc for Month of November 2009.

Contributed by Bethany L. Brenner, GRI, SRES, Realtor, Notary Public

Bedford Home Sale History. Looking at the Bedford single family home market over the past five years for November, the number of sales in 2009 is not off by much but home prices have dropped considerably.

• 11/08     17 sales     $405,024 – average sale price
• 11/07     12 sales     $414,450 – average sale price
• 11/06     24 sales     $406,721 – average sale price
• 11/05     24 sales     $533,762 – average sale price
• 11/04     28 sales     $390,168 – average sale price

As of this posting, there are 112 homes for sale in Bedford at an average asking price of $644,933. There are eleven homes price from $900,000 to $999,999 and ten homes price from $1,000,000 to $2,450,000. These 21 homes are driving up the current average asking price and many of them have been on the market between 6 months to well over a year.

There are 14 homes in contract waiting for contingencies to be cleared and 6 homes in contract awaiting closing of escrow. The average asking price is $359,945 with a median price of $326,950.

Of course it remains to be seen if the recently passed tax incentive for “move up” buyers will increase home sale activity. Buyers must have a written Purchase and Sales Agreement signed by all parties no later than April 30, 2010 and must close by June 30, 2010 in order to receive this credit. This could generate good activity over the winter months which are typically very quiet in New Hampshire.

Contributed by Susan Crush, Associate Broker, REALTOR®, Bean Group

Based on information from the Northern New England Real Estate Network, Inc. for the period November 1, 2009 to November 30, 2009 and November, 2004, 2005, 2006, 2007 and 2008.

There were 8 sales in Concord resulting in a median priced paid of $99,000, a 27% drop from September’s median.

Here’s what sold in October:

Oak Bridge (120 Fisherville Road):

Unit #166 – $55,000
Unit #56 – $100,000

Mast Yard West (37 Alice Drive):

Unit #51 – $93,5000
Unit#76 – $98,000

Cranmore Ridge (169 Portsmouth Street)

Unit#173 – $202,500

173-175 Loudon Road #6 – $69,500

45 Bog Road B-2 – $135,000

Thinking of putting your condo on the market, and interested to learn how long on average others had to wait for their units to sell?  In October, the condos that sold had been on the market for an average of 109 days.

Wondering how much competition you might have if you list your home?  At the writing of this article there were approximately 74 units for sale in Concord and 15 of those were currently under contract waiting to close.

Last month at this time there were 103 condos for sale.   With only 8 sales from then until now, it appears that sellers have taken their units off the market.  With a median asking price of $159,000, current sellers still in the game could be optimistic in their hope to sell on the high side.  As is evidenced with the median sold price for both October and September, less is more to many buyers right now and low purchase price is what is selling.

Based on information from the Northern New England Real Estate Network, Inc for Month of October 2009.

Contributed by Bethany L. Brenner, GRI, SRES, Realtor, Notary Public

Of the 24 sales, two of the homes that exchanged hands were bank foreclosures:

6.5 Portsmouth Street and 52 Downing Street

Despite a good amount of consistent data over the past few months, one area that did see a 42% gain was the number of days that homes soldremained on the market before selling.  Last month, homes stayed on average 90 days, this month it was 128 days.

So if you are thinking of buying and want to to know what the median sales price others before you spent, consider the amount of $205,250 as your number.  Final sales prices ranged from a low of $101,000 to a high of $205,000.

Perhaps you are a seller still in the game, waiting for the eager buyer.  You’re not alone, there are 170 other sellers waiting with you, and together you have all, on average, been waiting about 311 days.    So where does your asking price fall in the spectrum?  Consider there are 85 homes listed below $242,500 and 85 above.  How does your home compare?

Based on information from the Northern New England Real Estate Network, Inc for Month of October 2009.

Contributed by Bethany L. Brenner, GRI, SRES, Realtor, Notary Public

New London Home Sales:

15 Scythe Shop Road – $150,000

76 Farwell Lane – $245,000

742 Pleasant Street – $395,000

75 Parkside  – $395,000

16 Wallula Road – $500.000

188 and 189 Hastings Landing Road – $1,891,000

The length of time these properties remained on the market before selling averaged 268 days.

As with most many of us in the winter, we have a tendency to take a small sabbatical, allowing ourselves to rest and freshen up.  Perhaps that’s what sellers had in mind when many of them chose to shed their “For Sale” signs.   Unlike in Summer and early fall months where there were close to 100 homes for sale, there were only 68 on the market as of early November.  Rest assured, these and new anxious sellers will return, and it would not be at all surprising to see many of them returning far before the early thaw.  With a new and improved tax credit extension that includes existing home buyers and increases income limits, sellers and buyers will not want to miss an opportunity.  Contracts have to be locked in by April30, 2010 with sales completed by June 30th.

So if you are a seller still in the playing field or a buyer still exploring the opportunity of moving, consider that the median asking price for homes currently on the market is $467,000.  Many of the homes have sat for an average of 191 days.  Rest assured, this new tax credit, might give both buyers and sellers the “shot in the arm” they are looking for.

Based on information from the Northern New England Real Estate Network, Inc for Month of October 2009.

Contributed by Bethany L. Brenner, GRI, SRES, Realtor, Notary Public

Currently there are 199 residential homes for sale in Laconia, NH ranging in price from $49,900 to $3,395,000. The average price is $405,841 with a median price of $254,900. Average time on the market is 188 days.

There are 18 homes currently pending with list prices ranging from $79,900 to $459,000 with an average time on market of 99 days.

There were 11 homes sold in October in Laconia, NH with an average sales price of $220,972.  Average time on market was only 99 days.

Reported Laconia Residential Home Sales In October 2009:

74 Valley Street, Laconia, NH, a 3 BR home, sold for $63,000
16 Arlington Street, Laconia, NH, a 5 BR home, sold for $97,000
60 Mechanic Street, Laconia, NH, a 4 BR home, sold for $124,900
215 Elm Street, Laconia, NH, a 3 BR home, sold for $137,300
30 Gilbert Street, Laconia, NH, a 2 BR home, sold for $139,000
18 Joliet Street, Laconia, NH, a 3 BR home, sold for $165,00
438 Pleasant Street, Laconia, NH, a 3 BR home, sold for $190,750
42 School Street, Laconia, NH, a 4 BR home, sold for $195,000
1 Willow Pond, Laconia, NH, a 3 BR home, sold for $291,000
575 Endicott St. East, Laconia, NH, a 4 BR home, sold for $370,000
45 Prides Point, Laconia, NH, a 4 BR home, sold for $695,000

Based on information from the Northern New England Real Estate Network, Inc. for the period October 1, 2009 to October 31, 2009.

Contributed By Glenn Smith, REALTOR, Bean Group

There are 4 Waterfront Properties currently pending  with list prices ranging from $679,000 to $3,495,000 with an average time on market of 136 days.

There were 2 Waterfront Properties sold in October in Moultonborough, NH with selling prices ranging from $165,000 to $700,000.

Contributed By Glenn Smith, REALTOR, Bean Group

There are 60 Manchester Condominiums in contract waiting to close escrow with an average asking price of $159,163 and a median of $149,900. These figures do not indicate that the average sale price will increase much, if any in October, however the number of sales may increase, reducing the inventory available for sale.

There are 156 Condominiums of all types available for sale in Manchester. The average asking price is $170,923 with a median price of $159,900. Average time to sell so far is at 151 days.

Third quarter condominium sales are beginning to show potential for price stability. There were 66 sales reported in the third quarter compared to 68 in the second quarter and 34 in the first quarter of 2009. The average sale price for the third quarter was $143,530 with a median price of $140,500. Average time to sell decreased to 114 days, down from 158 days and 130 days in the first and second quarters. The average sale price was about the same for the second and third quarter and increased 12% over first quarter sales.

A little good news about FHA Condominium financing! FHA has delayed implementing the new guidelines for condominium approvals again until sometime in December. These new guidelines would likely slow down condominium financing and negatively impact first time home buyers who are considering buying condo’s.  FHA mortgages have been the most favorable way for first-time buyers and those buyers with limited funds available for down payments to finance real estate purchases.  Under the revised guidelines, which were to be effective in November, there would be no more “Spot Approvals”. The new approval process would be called “Direct Endorsement Lender Review and Approval Process” (DELRA) which is supposed to be more uniform and streamlined than spot loan approvals. Full project approvals will expire every two years requiring condominiums to re-certify for FHA approval. More information about the new guidelines can be found at susancrush.com.

Manchester Condominium Closed Sales For September, 2009

Based on information from the Northern New England Real Estate Network, Inc. for the period January 1, 2009 through September 30, 2009.

Contributed by Susan Crush, Associate Broker, REALTOR, Bean Group

Obviously – however – still a good Buyers market.  Perhaps the most favorable in 75 years -  BUT  remember  –  “Don’t get Trapped by – “It’s the Same Old Song ” Mentality”. ( my Windham blog from the second quarter 2009 ).  Eventually – all pricing does stabilize.  The signs are starting to consistently appear.  One of the only certainties in life is change and , in reality , only the lucky pick the absolute bottom ( and the absolute top).  Starting to feel lucky ??

Third Quarter Comparisons -  2009 /  2008. During the Third Quarter of 2009 , forty ( 40 )  homes were sold in Windham.  With a Median Sales Price of $416,000 and square footage of 2,799 this translates to $148.62 per sq/ft.  Days on Market (DOM) was 118 days.    During the third Quarter of 2008 forty-two (42) homes  were sold.  With a Median Sales Price of $463,250 and square footage of 2,932 this translates to $157.99 per sq/ft. DOM was 91 days.   Overall – a 6% drop in median sales price with fairly equal sales volume activity levels.

Looking Forward.  During the fourth quarter of 2008 35 homes were sold in Windham and the median sales price dropped dramatically to $385,000.  A median size of 2,901 sq/ft  per home resulted in equally dramatic drop-off to a median price per sq/ft of  $132.71 !!    Will there be another end of year clearance sale mentality in 2009 ??  Doubtful – in my opinion – last year appears to have been “clean-out ” time in this community.    Right now sales are on track at 35 units “pending” or “contingent” in Windham.  It appears that the sales activity should easily the comparable quarter of 2008.  There are 128 active listing on the Windham market as of 9/30/09.  At current (2009) absorption rates of 10.5 units per month this translates to a twelve (12) month supply of unsold homes – twice as much supply as what is considered “healthy” in a good market.

Savvy market watchers ask – “What could go wrong ???” One Answer:  a flood of foreclosed homes released onto the market . That would alter the current momentum we seem to be enjoying – in southern New Hampshire.   I keep hearing this “background music”  from undocumented sources.  Hopefully the really smart “movers and shakers” have figured out how to avoid this event. .   Keep your eyes and ears open !!

Next blog report will be after December – but please call or e-mail if any specific questions.  I always enjoy conversation and factual debate.  Thank-You and Take Care.

Based on information from the Northern New England Real Estate Network, Inc for the period January 1, 2008 to September 30, 2009.

Contributed by :  Bill Spinelli, Associate Broker, Bean Group.  For further specific inquiries or questions please e-mail @ bill.spinelli@beangroup.com

Any of us looking for a slam dunk this summer or even this fall, may have been disappointed, however the glass is not necessarily half-empty.  On the bright side, activity has held rather steady between 5 and 6 sales over the last three months.  Yes, we’d like to see more and who wouldn’t want to see the luxury homes sell?  After all, this picturesque town of New London has those to show as well, but for now sales are in the territory of buyers looking below the $300,000 mark.  Yes, that’s correct!  The median sales price for the properties that closed in September, ranging between $210,000 and $434,000 was $290,000.

Also staying steady are the 87 properties for sale in September with 17 of them under contract.    This is the point in time where we cross our fingers until we get to close!

The median list price for those presently on the market is $438,000.

The following properties sold in New London during the month of September:

268 County Road  ($210,000)
295 Andover Road  ($245,000)
46 Wallula ($275,000)
37 Job Seamans Acres ($305,000)
645 County Road ($306,000)
1038 Main Street ($434,000)

Based on information from the Northern New England Real Estate Network, Inc for Month of September 2009.

Contributed by Bethany L. Brenner, GRI, SRES, Realtor, Notary Public

Consumers are buying and better yet, there are plenty of multiple offer scenarios in the condo market.  The old approach of “start low and negotiate up” may find many buyers quickly out of play when multiple offers are present.  Buyers hoping to “get a great deal” on an already very reduced (by market comparative) property do not often have the luxury of starting “low” as private sellers, third party players and lender-owned properties are choosing higher offers right off the bat.

Buyers hoping to purchase in this market should understand the environment they are playing in.  Before submitting an offer, determine whether other offers are present, truly assess the asking price to determine whether or not it is substantially reduced, and finally determine personal value to you as the buyer.  If the answer is “yes and a lot”, buyers should be prepared to enter the arena with a strong offer.  It has been said that a seller has three choices when presented with an offer:  they can accept, reject with a counter, or walk away.  Unfortunately, many buyers bank on the “reject with a counter offer” response.  Low offers will more than likely result in a walk away response for the seller.

Competitive prices brought on by foreclosures, short sales or even reduced market prices are making condos sell quickly.   On average the number of days a condo remained on the market for the month of September was down steadily to 123 from 145 days.   Sales prices ranged from a minimum of $78,000 to $189,000 leaving us with a median sales price of $135,000, and only one of those sales last month was a forelcosed property.  Of the properties that sold, buyers paid on average 99% of the last listed sales price, perhaps another indication that sales prices are leveling off.

Condominimum Transactions for September:

37 Alice Drive     $78,000

16 Piscataqua      $109,900

39 Millstream     $128,000

4 Vinton               $135,000

60 Modena         $144,000

60 Mulberry     $180,000

84 Branch Turnpike   $189,500

There are currently 103 condos for sales in Concord with a median listing price of $156,750.  Sellers on average have had their properties on the market for 192 days.  There are currently 19 properties under contract.

Based on information from the Northern New England Real Estate Network, Inc for Month of September 2009.

Contributed by Bethany L. Brenner, GRI, SRES, Realtor, Notary Public

Similar to July, September saw a decrease in sales activities and a 14% decrease in median sales prices. In September there were 20 home sales with a median  sales price of $194,600 ranging from $110,900 to $450,000.  Of those 20 sales, one was a foreclosure (344 N. State Street) and one was a short-sale (an arrangement between the seller and the lender to allow the property to be sold for less than what is owed on it.  This arrangement requires the lender’s participation in the acceptance of any offers presented.)  Buyers paid on average 94% of the properties listed sales prices.  Of the properties that sold in Concord, 30% sold from the South End, 20% from the Penacook area, 20% from East Concord, 15% from Concord Heights, 30% from West Concord, and 5% from other areas.

In the month of September, buyers paid on average 94% of a seller’s listed asking price.

There are currently 189 properties for sale with 45 of them under contract.  The listed median price is $247,500 and on average these properties have been on the  market for 300 days.  To put that into perspective, that is two months shy of entire year.  Over time, it is possible to become to numb steadily increasing days.  Number of properties for sale, number of contracts pending, median list price and average number of days on the market for the month of September are almost identical to last month’s landscape.

With a nearing November 30th deadline for the First-Time Home Buyer’s Tax Credit, and the program’s continuation unknown, it is possible that October and November will bring increased sale numbers to the single family market.  Already the months of August and September saw inventories decreasing and number of contracts pending increasing – a possible sign of properties “going home” to qualified individuals by late November.

Based on information from the Northern New England Real Estate Network, Inc for Month of September 2009.

Contributed by Bethany L. Brenner, GRI, SRES, Realtor, Notary Public

Currently there are 39 condominiums available for sale in Bow. There are 16 in The Pines of Bow, 6 at Stonesled Farm, 7  in White Rock Cottages, 2 in The Cottages at Windchimes and 8 at The Highlands at Bow. The Highlands at Bow is the only condominium complex in Bow for all ages.

Why are there so few condominium sales in Bow? None of the condo complexes in Bow are on the current FHA approved list which means buyers will need to come up with at least a 10% down payment plus closing costs in order to purchase one of them. This would mean a minimum of $22,000 depending upon the mortgage program. The majority of the condominiums in Bow are age restricted and those people who would consider purchasing may not be able to sell their existing home and so therefore can not downsize to a condo. The condo market it usually the last to recover from a decline in the market so when you see the sale of single family homes increasing, condominium sales may pick up.

Contributed by Susan Crush, Associate Broker & REALTOR, Bean Group

Based on information from the Northern New England Real Estate Network, Inc. for the period January 1, 2009 through September 30, 2009.

September Sales Figures Disappoint. The number of sales in September was down by one sale over August and the average sale price was also down 4.35% at $382,900. The median sale price in September was $397,500 and average time on market was reported to be 131 days, a reasonable time frame in the current market.

As of this posting there are 89 homes for sale in Bow ranging in price from $80,000 to $1.1 million. The average asking price is $410,529 with a median price of $359,000. At the current pace, it would take 18 months to deplete the inventory of homes available for sale. This absorption rate indicates that Bow is still experiencing a  “Buyers Market” with over 7 months of inventory available for sale.

September, 2009 Bow Sales

18 Grandview Road sold for $267,000

7 Wilson Meadow Road sold for $425,000

1 Alexander Lane sold for $395,000

2 Fieldstone Drive sold for $397,500

17 Heidi Lane sold for $430,000

Contributed by Susan Crush, Associate Broker, REALTOR, Bean Group

Based on information from the Northern New England Real Estate Network, Inc. for the period July 1, 2009 to September 30, 2009.

To compare, in the Third Quarter of 2008, the average sale price was $272,428 with a median of $265,500. Average time on market was 143 days and percentage of asking price was the same at 97%. Sale prices were down about 9% in the Third Quarter of 2009 compared to Third Quarter, 2008.

In the First Quarter of 2009 there were 14 sales reported with an average sale price of $215,500 and a median of $192,450. Average time on market was 99 days.

The Second Quarter, 2009 there were 27 sales reported with an average sale price of $250,879 and a median of $250,000. Average time on market was 121 days.

The Hooksett real estate market is showing small but steady improvement since the beginning of the year. Percentage of asking price is very good at 97% and time on market on average at under 110 days is very reasonable.

As of this post there were 111 homes available for sale in Hooksett which represents about a years supply of homes. This is the absorption rate.

It is generally considered that “Normal Market” conditions exist when the Absorption Rate is between 5 and 6 months. “Buyers Market” conditions exist when the Absorption Rate is higher.  (7+ months) and  “Sellers Market” conditions exist when the Absorption Rate is lower.  (1-4 months).

Contributed by Susan Crush, Associate Broker, REALTOR, Bean Group

Based on information from the Northern New England Real Estate Network, Inc. for the period January 1, 2009 to September 30, 2009 and July 1, 2008 to September 30, 2008.

Where’s The Bottom???

2009 Quarterly Recap

First Quarter – Average sale price $416,896 with 38 sales reported.

Second Quarter – Average sale price $419,664 with 67 sales reported.

Third Quarter – Average sale price $405,422 with 79 sales reported.

2008 Third Quarter Comparison. There were 99 homes reported sold in the third quarter of 2008 with an average sale price of $448,620 and Sellers received a little over 96% of their asking price.

Fourth Quarter figures could prove favorable since first-time home buyers are now rushing to meet the November 30th deadline and this could boost sales figures in October and November. However, the status of the tax credit is in question and there is fear that home sales could drop sharply in December and throughout the winter months if it is allowed to expire. There are several efforts in Congress to extend the credit and even to expand it to all home buyers, not just first-timers and that could turbo-charge home sales considerably if it goes through.

Contributed by Susan Crush, Associate Broker, REALTOR, Bean Group

Based on information from the Northern New England Real Estate Network, Inc. for the period July 1, 2009 to September 30, 2009.

Although news regarding real estate has been more positive lately, the Windham real estate market has not picked up the sales pace, a good indicator of this is the fact that appraisers still consider Rockingham County to be in a declining value state. In calculating the absorption rate for Windham I analyzed properties between $50,000 to $1,300,000, and what I found is that Windham’s residential real estate market is continuing to exhibit very low activity resulting in an overall absorption rate of 14.5 months, with an average time on market for residential properties of 110 days and condominiums weighing in at 153 days. The break down of the absorption rate between residential and condominium properties does show that the condo market is not faring as well as the residential market, with an overall condo absorption rate of 18.27 months compared to the residential market rate of 12.65 months.

Windham property owners that are thinking of selling their home or should take a careful look at these figures, particularly the average days on the market.

Based on information from the Northern New England Real Estate Network, Inc. for the period 10/01/2008 to 9/30/2009

Contributed by : Christopher Bonta, Sales Associate, Bean Group