Bean Group | Real Estate Market Watch

Concord Sees 8 Condo Sales in October

Bethany Brenner — Fri, 20 Nov 2009 21:54:42 +0000

October condo sales remained in line with months prior.

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

24 Single-Family Home Sales in Concord

Bethany Brenner — Fri, 20 Nov 2009 21:54:00 +0000

If nothing else, Concord has certainly remained consistent over the past few months with single-family purchases. Seeing just a small 20% increase over last months sales, Concord had 24 homes change hands. Certain areas remain popular for sales – the South end experienced 17% of the sales, Penacook 17%, Concord Heights 8% and East Concord 13%.

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 Sees 6 Sales Running for Last Two Months

Bethany Brenner — Fri, 20 Nov 2009 21:53:40 +0000

Staying ever so consistent, New London had 6 home sales in the month of October ranging form $150,000 to $1,891,000. This month’s median sales price fell higher than last month’s $290,000. October’s median was $395,000.

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

Market Snapshot For Residential Homes In Laconia, NH – October 2009

Glenn Smith — Fri, 20 Nov 2009 21:53:13 +0000

Market Snapshot For Residential Homes In Laconia, NH - October 2009

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

October 2009 Market Snapshot for Waterfront Properties in Moultonborough, NH

Glenn Smith — Fri, 20 Nov 2009 21:52:52 +0000

October 2009 Market Snapshot for Waterfront Properties in Moultonborough, NH

Currently there are 62 Waterfront Properties for sale in Moultonborough, NH ranging in price from $349,900 to $9,900,000. The average price is $1,713,808 with a median price of $1,150,000. Average time on the market is 216 days.

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.

Reported Moultonborough Waterfront Properties Sales In October 2009:

18 Holland Street, Moultonborough, NH, a 1BR Home, sold for $165,000

100 Wyman Trail, Moultonborough, NH, a 3 BR Home, sold for $700,000

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

Market Snapshot For Laconia, NH Condos October 2009

Glenn Smith — Fri, 20 Nov 2009 21:52:06 +0000

October 2009 Market Snapshot For Laconia, NH Condos

Currently there are 146 condominiums for sale in Laconia, NH ranging in price from $49,000 to $539,000. The average price is $217,263 with a median price of $189,900. Average time on the market is 221 days.

There are 6 condos currently pending with list prices ranging from $114,900 to $439,900 with an average time on market of 126 days.

There were 16 condos sold in October in Laconia, NH with an average sales price of $215,181 and an average time on market of 346 days.

Reported Laconia, NH Condo Sales In October 2009:

23 Treetop Circle, unit 233, Laconia, NH, a 2 BR condo, sold for $80,000
130 Endicott St N. unit 515, Laconia, NH, a 2 BR condo, sold for $95,000
48 Landing Lane, unit 5A, Laconia, NH, a 1 BR condo, sold for $125,000
66 Landing Lane, unit 313, Laconia, NH, a 1 BR condo, sold for $140,000
105 Tower Street, unit 5, Laconia, NH, a 2 BR condo, sold for $140,000
833 Weirs Blvd., unit D4, Laconia, NH, a 2 BR condo, sold for $148,500
82 Garden Circle, unit 82, Laconia, NH, a 2 BR condo, sold for $150,000
16A Liberty Run, unit 16A, Laconia, NH, a 2 BR condo, sold for $169,900
107 Tower Street, unit 2, Laconia, NH, a 2 BR condo, sold for $168,000
11A Alpine Circle unit 11A, Laconia, NH, a 3 BR condo, sold for $176,500
59A Nestledown Drive, unit A, Laconia, NH, a 3 BR condo, sold for $195,000
7 Croft Way, unit 7, Laconia, NH, a 3 BR condo, sold for $192,000
48 Landing Lane, unit 14, Laconia, NH, a 2 BR condo, sold for $243,000
48 Landing Lane, unit 3, Laconia, NH, a 2 BR condo, sold for $265,000
94 Lucerne Avenue, unit 2, Laconia, NH, a 3 BR condo, sold for $515,000
94 Lucerne Avenue, unit 4, Laconia, NH, a 3 BR condo, sold for $640,000

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

Submitted by Glenn Smith, REALTOR, Bean Group

Manchester, NH Condominium Sale Prices Continue To Drop In September

Susan Crush — Tue, 03 Nov 2009 01:10:13 +0000

Condominium sales down by 15% in September with 24 sales reported. The average sale price was $143,108 with a median of $141,500. Time needed to sell a Manchester condo also increased slightly from 96 days to 117 days which is currently considered to be a reasonable time frame in which to sell. Sellers got about 98% of their asking price in September. This may indicate that Sellers have adjusted their prices to attract buyers.

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

Address	Bedrooms	List Price	Closed Price	Sell/ListRatio	DOM	Close Date
			Closed Price	Sell/ListRatio	DOM
36R-104 English Village	1	$40,000	$33,000	83%	69	09/01/2009
545 Calef Road #12	2	$50,000	$52,500	105%	0	09/28/2009
50R English Village Rd.	1	$52,500	$43,500	83%	119	09/01/2009
45-1F Log Street	1	$53,900	$45,000	83%	108	09/11/2009
34-3B Dunbarton Rd	1	$54,900	$54,900	100%	54	09/04/2009
1799 Bodwell Road #2	2	$73,900	$68,000	92%	8	09/30/2009
470 Silver St.	2	$109,900	$105,000	96%	379	09/24/2009
6 Northbrook Dr	2	$118,900	$118,000	99%	46	09/16/2009
781 Hayward	2	$139,900	$137,400	98%	67	09/02/2009
168 Morse Rd.	2	$139,900	$139,900	100%	68	09/22/2009
343 Blucher Street	2	$142,900	$141,000	99%	50	09/21/2009
178 Morse Road	2	$144,900	$142,500	98%	100	09/25/2009
187-204 Eastern Avenue	2	$149,900	$140,000	93%	59	09/18/2009
55 River Road	2	$152,000	$142,000	93%	37	09/30/2009
324 Fox Hollow Way	2	$156,500	$152,000	97%	305	09/15/2009
144 Dunbar St.	2	$159,000	$159,000	100%	49	09/30/2009
1029 South Mammoth Road	2	$162,000	$156,500	97%	134	09/30/2009
331 Fox Hollow Way	2	$178,000	$176,000	99%	61	09/30/2009
128 Karatzas Avenue	3	$192,400	$225,000	117%	95	09/30/2009
114 Karatzas Avenue	3	$192,400	$206,000	107%	216	09/30/2009
17 Charles Chase Way	3	$229,000	$220,000	96%	40	09/30/2009
41-5 Carriage Way	2	$259,900	$249,900	96%	559	09/24/2009
001 Kidder Street	3	$264,900	$252,000	95%	11	09/30/2009
103 Westchester Way	3	$289,900	$275,500	95%	164	09/17/2009

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

Windham, NH – Home Sales Report – 3rd Qtr 2009

Bill Spinelli — Tue, 03 Nov 2009 01:07:54 +0000

OVERVIEW: ” Windham – Bouncing Around the Bottom ??? “. Based on available data , overall Homes Sale prices in the Windham market appear to be stabilizing in 2009 . The overall number of transactions are off 12% from a year ago ( 94 sold in 2009 versus 107 sold in 2008). AND - although overall median sold prices are also down ( around 7% ) compared to a year ago - per sq/ft sell prices has steadily improved each quarter in 2009. First quarter at $141.06 per sq/ft, Second quarter at $143.75 per sq/ft and Third quarter at $148.62 per sq/ft. As always , only time will tell , but it is encouraging to see some signs of a possible “bottoming out “. The length of time spent bouncing around the bottom will hopefully be the next widespread topic of debate and discussion. In many peoples minds ( and pockets), that type of press coverage would be a positive sign in of itself .

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

New London Home Sales Hold

Bethany Brenner — Tue, 03 Nov 2009 01:04:35 +0000

Spring comes, then the Summer residents, and then before you know it, the foliage is turning , and visitors are flocking out of our area – sellers may wonder where those “perfect selling time moments” went.

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

Concord Condo Market Sees Less than Ten Sales Per Month

Bethany Brenner — Tue, 03 Nov 2009 01:03:38 +0000

Don’t be mislead with the number of sales the Concord condominium market has seen over the last few months because properties are moving and they are moving quicker than before. With less than ten sales per month for the last four months, September, like July experienced 7 sales.

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

Concord Sees 20 Single Family Homes Sell in September

Bethany Brenner — Tue, 03 Nov 2009 01:00:45 +0000

By all accounts, sellers must have been excited about the activity seen in August; median sales prices were up and the number of properties sold had increased 41%. What 30-days can do!

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

Bow, NH Reports Few But Consistent Condominium Sales In Third Quarter

Susan Crush — Tue, 27 Oct 2009 04:09:56 +0000

There was one condo sale reported which is consistent with the first and second quarter of the year with one sale each quarter. A Windchimes condo at 6 Fiddlehead Circle, Unit #21 sold for $283,900, 98% of the asking price. So far, there have been two sales in Windchimes this year and one at White Rock Cottages. There are two sales in contract waiting to close escrow. One sale again in Windchimes and one at White Rock Cottages.

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.

Bow, NH – Third Quarter 2009 Home Sales Continue To Climb

Susan Crush — Tue, 27 Oct 2009 02:43:44 +0000

Bow Sale Prices On The Rise In Third Quarter! Third quarter figures for Bow single family home sales are encouraging with the average sale price of $327,855 showing an impressive 16.25% increase over the second quarter and 6.6% increase over first quarter sales figures. In addition, Sellers got 97% of their asking price in the third quarter, a modest increase over first and second quarter percentages.

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.

Hooksett, NH – Third Quarter Single Family Home Sales Show Improvement

Susan Crush — Sun, 25 Oct 2009 03:35:40 +0000

The Real Estate Market in Hooksett is showing steady improvement. There were 33 homes sold in the Third Quarter of 2009 with an average sale price of $248,742 and a median of $257,000. Average time on market was 107 days and Sellers got about 97% of their asking price.

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.

Bedford, NH – Third Quarter Single Family Home Sales Up, Prices Down

Susan Crush — Mon, 19 Oct 2009 20:27:23 +0000

Where’s The Bottom??? It is encouraging to see that the number of home sales in Bedford for the third quarter of 2009 rose 15% over second quarter figures with 79 sales reported. But sale prices were down a little over 3% with an average sale price of $405,422. Average time on market during the quarter was a reasonable 87 days and Sellers were getting about 97% of their asking price. Home sales during the third quarter ranged from a high of $989,900 to a low of $191,000 with a median sale price of $370,000.

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.

How fast is real estate selling in Windham, NH? Take a look at the third quarter sales absorption rate.

Chris Bonta — Tue, 13 Oct 2009 00:53:33 +0000

As we head into the final stretch of the 2009 I thought that it would be a good idea to look at the real estate absorption rate for Windham in three categories: first, Windham’s overall absorption rate (for an explanation of absorption rates go to www.chris-bonta.com), second the rate for residential properties, and third Windham’s absorption rate for condominium properties.

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

Bedford, NH – Condominium Prices Up Slightly

Susan Crush — Tue, 13 Oct 2009 00:08:30 +0000

Bedford NH Condominium Market

Condo sales in Bedford still stagnant with only 2 sales reported in September. Sale prices were up slightly from August figures at $264,950 on average. There are three condo’s in contract waiting to close escrow and 7 in contract with contingencies for a total of 10 potential sales for next month. The average asking price of the condo’s waiting to close is $262,535 with a median asking price of $239,950. The number of sales that are in contract is encouraging since these could close soon, improving October figures. The two sales reported for September are: 65 Hawthorne Drive, #112 which sold for $219,900 and 1 Pebble Beach which sold for $310,000.

As of this posting there are 25 condominiums for sale in Bedford and of the twenty-five, a little over half are designated as “active adult” or for those 55 and over. The average asking price is $273,144 with a median of $255,000. Average time on market is very lengthy at 390 days. The new construction condo’s in River Walk have been on the market for over two years, raising the average considerably. Average time on market of condo’s that are not in River Walk is a more reasonable 117 days.

Fannie Mae, Freddie Mac and private mortgage insurer AIG United Guaranty have recently mandated new requirements for condominium mortgages. These new and more stringent requirements can create difficulty for those trying to buy or sell their condos.

A few of these new guidelines include:

No more than 15% of a condo project units can be more than 30 days delinquent on condo fees.

Borrowers must now obtain a condo unit owners insurance policy unless the master policy provides interior unit coverage; coverage may not be less than 20% of the assessed value. A condo-owners policy, known as an HO-6 policy, covers personal property, personal liability, and the physical unit from the studs and in. Many policies also include special assessment coverage or the option to include a special assessment coverage rider.

The homeowners association must have at least 10% of its budgeted income designated for replacement reserves and adequate funds budgeted for the insurance deductible.

The revised guidelines could negatively affect buyers’ ability to obtain conventional loans for either a new or established condominiums if the project does not conform.

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

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

Nashua, Amherst and Hollis, NH – Executive Homes Sales Report – Third Quarter 2009

Bill Spinelli — Tue, 13 Oct 2009 00:05:17 +0000

Getting Unstuck from the Mud ???

One of the more predictable luxuries ( no pun intended ) of writing about the Executive Homes market ($500,000 plus homes) is that there is a much sturdier foundation in place to fall back upon in times of crisis. Ultimately this fact provides us with a more clearly readable vision of the future. Like all market segments - the damage is the greatest and the most widely felt at the beginning of any downturn . It is no great revelation that it is the less financially stable that help to “broadcast” the news and pave the way for home price declines. However, what often varies the most are the “time lag factors” for each different market segment . ( The actual data highligting the historical selling price ”time lag” for the Executive Home market are found in my Blog written last May - “Lonely at the Top ???” . Basically, the “top” was reached in 2007 for Executive Home sales. ). Once the majority of these less fortunate situations are cleared from the marketplace, the more financially stable can begin to look forward to a return to “normalcy”. Why more easily predictable ??? Two main reasons . In general , (1) this is a much less populated market ( only 96 Executive Homes currently for sale in Nashua, Amherst and Hollis) and (2) this market segment ( again – in general ) will stick longer to their pricing goals – i.e. most often due to longer decision making time-frames. Based on the home sales data from the Third Quarter of 2009, there are very positive indications that we are “out of the mud” and have reached the “strong foundation point” in the Executive Home market in Nashua, Amherst and Hollis.

The politically correct are becoming “cautiously optimistic”. There are subdued (but constant) positive murmurings being both heard and observed in this marketplace. Also – please remember - this is New Hampshire – not Las Vegas, not California, not Phoenix, not Florida, not Detroit, etc., etc., So - say it – and perhaps you will even feel a little better – as the numbers seem to indicate.

Nashua, Amherst and Hollis – Executive Homes Sold – Third Quarter Comparisons – 2009 / 2008. During the Third Quarter of 2009 there were ten (10) Executive homes sold a a Median Sales Price of $611,250. Based on a median square footage of 4,221 sq/ft that translates to a Selling price of $144.81 per sq/ft. During the Third Quarter of 2008 there were twelve (12) Executive homes sold a a Median Sales Price of $567,000. Based on a median square footage of 4,227 sq/ft that translates to a Selling price of $134.14 per sq/ft. Thus we have almost an eight percent (8%) increase in sales price on a comparative quarterly basis.

Nashua, Amherst and Hollis – Executive Homes Sold – Nine Month Comparisons – 2009 / 2008. For the first nine months of 2009 there were thirty-one (31) Executive homes sold a a Median Sales Price of $600,000. Based on a median square footage of 4,162 sq/ft that translates to a Selling price of $144.16 per sq/ft. During the first nine months of 2008 there were forty-three (43) Executive homes sold a a Median Sales Price of $627,000. Based on a median square footage of 4,152 sq/ft that translates to a Selling price of $151.01 per sq/ft. The Median Days on Market (DOM)was 135 during 2009 versus 102 during 2008 thus indicating that it is still taking longer to sell.

Looking Forward – Facts and Projections. In the fourth quarter of 2008 there were ten (10) Executive Homes sold in the Nashua, Amherst and Hollis marketplace. The Median sales price was $575,000 coupled with a Median square footage of 3,968 sq/ft resulted in a Median sales price of $144.90 per sq/ft. At the beginning of the fourth quarter 2009 there are already nine (9) homes that are under agreement and pending closing. The Median Asking Price for these homes is $559,950 and based on a median square footage of 3,768 sq/ft that translates to a projected Median Sales Price of $148.60 per sq/ft. As always – we must wait for the facts. However it certainly promising to see that we are showing solid signs of possibly having touched bottom in Nashua, Amherst and Hollis.

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 inquiries or questions please e-mail at bill.spinelli@beangroup.com

Bedford, NH – Home Sales On The Rise In September!

Susan Crush — Mon, 05 Oct 2009 17:21:02 +0000

The number of sales reported in Bedford for September was down a little compared to August. But there is reason for optimism since average sale prices rose significantly from $411,220 to $448,786 with median sale price of $429,900. Average time to sell a home in Bedford remained unchanged at 98 days.

As of this posting there are 129 single family homes available for sale in Bedford ranging in price from $109,900 to $2,450,000. The average asking price is $614,471 with a median of $494,450. These figures represent about a five month inventory of homes currently available, about the same as reported in August.

There are 29 homes in contract waiting to close escrow with an average asking price of $378,119. A little over half of these are “contingent” sales which may take a little longer to close depending upon what the contingencies are.

September Bedford Single Family Home Sales

134 King Road was listed at $200,862 and sold for $190,000
5 Southgate Drive was listed at $248,000 and sold for $249,900
19 Brookview Terrace was listed at $214,000 and sold for $259,900
14 Colonel Daniels Drive was listed at $320,000 and sold for $319,900
50 Oriole Drive was listed at $343,000 and sold for $350,000
12 Cottage Walk was listed at $323,000 and sold for $359,000
4 Joppa Hill Road was listed at $359,900 and sold for $359,900
13 Tamarack Trail was listed at $372,000 and sold for $399,900
55 John Goffe Drive was listed at $429,900 and sold for $449,900
16 Sentry Road was listed at $455,000 and sold for $454,999
11 Pinecrest Circle was listed at $445,000 and sold for $459,900
6 Dam Lane was listed at $540,000 and sold for $549,900
74 Perry Road was listed at $547,700 and sold for $550,000
36 Darby Lane was listed at $633,000 and sold for $649,000
126 Powder Hill Road was listed at $650,000 and sold for $699,900
31 Buckingham Way was listed at $758,000 and sold for $758,000
21 Esther Drive was listed at $790,000 and sold for $799,000

Contributed by Susan Crush, Associate Broker, Bean Group

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

Concord, NH – Condominium Sales Continue to Rise in August

Bethany Brenner — Tue, 15 Sep 2009 20:10:16 +0000

Blessed with a falling number of days on the market, and increases in the number of sales and sale prices, condominium sellers are seeing small glances of sunshine. While not nearly as glamorous as what statistics revealed just two years ago, sellers and buyers should remain optimistic that certain portions of the market remain positive and steady; August demonstrated a few glimpses of that optimism. From 6 sales to 9 in August and with an average of 145 days on the market, positive trends are sprouting in this area. Spread between $87,900 and $280,000, the median price for the 9 sold properties this past month was $189,900. Additionally, there were no sales of foreclosed or short-sale properties. Just two months prior, summer began in June with only 6 sales, an average of 194 days on the market, and a median sales price of $120,200. July, only slightly better with 7 sales, fewer days on the market (163) and falling median prices ($114,000).

The following condominiums sold in Concord during the month of August:

37 Alice Drive #32: $87,900
15 Wyman Street #64: $128,000
16 N.E. Village: $122,000
24 Piscataqua: $125,000
84 Branch Turnpike #99: $190,000
84 Branch Turnpike #118: $189,900
17-4 Cabernet #2: $225,185
71 Brenda: $215,000
1 Cabernet: $280,000

As of September 1st, there were 100 condominiums for sale, with 15 of them under contract. The average median list price of these 100 condominiums is $149,450. Thus far, these properties have been on the market for an average of 175 days.

No doubt, increased sales are attributed to the First Time Home Buyer Credit. Set to expire at the end of the year, many individuals are pushing to have the program extended. If passed by Congress, home buyers and sellers alike are sure to see the pro-longed benefits.

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

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

New London, NH – Home Sales Stay Steady for Two Months Running

Bethany Brenner — Tue, 15 Sep 2009 18:12:44 +0000

Wishing for a far more substantial number of sales, only five homes sold in the month of August in New London. On a positive note, this is only one less sale than in July, and two more than the 3 home sales in June. Spreading between $235,000 and $1,550,000, the median price of the five sales was $319,000. This number continues a steady downward trend of falling prices over the last three months. Between June and July the decrease was a marginal 1%, but from July to August, a 10% decrease was seen.

The following homes sold in New London:

70 Parkside: $235,000
202 Squires Lane: $280,000
53 Deacon Hill: $319,000
173 Seamans Road: $442,500
242 Poor Road: $1,550,000

The average number of days a home stayed on the market has fluctuated a great deal over the last three months. For the month of August, the average number of days was 245. This number is up 38% from July.

In a “perfect” market, we would hope for a shorter number of days on the market (quicker sales) and an increase in median sold prices (indications of home values increasing). However, as with any cyclical market, as buyers and seller, we take the good with the bad and appreciate even the smallest signs of hope, hence an 8% decrease in the number of homes for sale gives us hope.

The number of homes currently for sale in New London on September 1st was 87 with 13 of those under agreement. The median list price of those properties is $429,000 and they have been on the market for 151 days.

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

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

Concord, NH – Single Family Home Sales Increase in August 2009

Bethany Brenner — Tue, 15 Sep 2009 15:30:48 +0000

After a slower period in July, the number of sales in Concord increased to levels similarly seen in June of this year (June: 30, July: 22, August 31). Median prices for these sold properties and the average number of days these homes remained on the market prior to selling also saw positive trends. Increasing from June to August ($212,000 to $219,000 to $225,000 respectively), median prices on homes sold have increased steadily, a positive sign. Of the 31 properties that sold, prices spread from $56,000 to $446,000.

Summer began with homes taking an average of 183 days to sell, and decreased in half for both July and August. The First Time Home Buyer Tax Credit, or an increase in foreclosures could have caused signs of this moving market. Having been mentioned in previous articles, foreclosures are the double-edged sword. They do little to help surrounding property values and they do cause havoc on our current economy, however; they do provide both investment opportunities and home ownership to individuals otherwise not able to afford certain properties. Doubling each month since June, the number of sales that were home foreclosures went from 1 to 4 between June and August.

The following foreclosed homes sold in Concord in the month of August:

16 Ty Street
3 Mulberry Lane
58 Airport Road
73 Snow Road

The village of Penacook saw the largest number of sales in August followed by Concord Heights and the South End. A higher amount of sales in these areas could be explained by the possible low to modest price points in these areas. The South End also remains a very popular area for homebuyers.

Percentage of total sales were seen in the following geographic areas:

South End: 16%
Penacook Area: 23%
E. Concord: 13%
Concord Heights: 16%
West Concord: 13%
Other Areas: 19%

On September 1st, there were 185 single-family homes for sale in the city of Concord, with 44 of them under contract. Of those homes, the median list price was $249,000. The average number of days those homes have been on the market is 297 days.

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

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

Moultonborough, NH – August 2009 Market Snapshot for Waterfront Properties

Glenn Smith — Mon, 14 Sep 2009 14:08:56 +0000

Currently there are 79 Waterfront Properties for sale in Moultonborough, NH ranging in price from $219,900 to $9,900,000. The average price is $1,791,301 with a median price of $1,150,000. Average time on the market is 175 days.

There are 6 Waterfront Properties currently pending with list prices ranging from $379,900 to $3,495,000 with an average time on market of 147 days.

There were 5 Waterfront Properties sold in August in Moultonborough, NH with a selling prices ranging from $275,000 to $625,250.00.

Reported Moultonborough Waterfront Properties Sales In August 2009:

67 Ledgemere Estates Road, Moultonborough, NH, a 2 BR Home, sold for $275,000
62 Driftwood Drive, Moultonborough, NH, a 3 BR Home, sold for $335,000
111 Coe Point Road, Moultonborough, NH, a 2 BR Home, sold for $365,000
16 Clear Water Point Road, Moultonborough, NH, a 3 BR Home, sold for $500,000
44 Black Cat Island Road, Moultonborough, NH, a 3 BR Home, sold for $625,250

Submitted by Glenn Smith, REALTOR, Bean Group

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

Laconia, NH – Condominum Market Snapshot For August

Glenn Smith — Mon, 14 Sep 2009 12:05:52 +0000

Currently there are 167 condominiums for sale in Laconia, NH ranging in price from $49,000 to $599,000. The average price is $220,806 with a median price of $187,250. Average time on the market is 236 days, up slightly from July.

There are 10 condos currently pending with list prices ranging from $129,900 to $388,000 with an average time on market of 227 days.

There were 6 condos sold in August in Laconia, NH with an average sales price of $177,425 and an average time on market of 72 days.

Reported Laconia, NH Condo Sales In August 2009:

233 Endicott Street, unit 15, Laconia, NH, a 2 BR condo, sold for $70,100
28-4 Shane Way, unit 4, Laconia, NH, a 2 BR condo, sold for $122,000
63C Nestledown Drive, unit 63C, Laconia, NH, a 3 BR condo, sold for $170,000
1480 Old North Main Street, unit 36, Laconia, NH, a 2 BR condo, sold for $222,450
26 Windsor Square, unit 26, Laconia, NH, a 3 BR condo, sold for $230,000
6B Schooner Lane, unit 6B, Laconia, NH, a 3 BR condo, sold for $250,000

Submitted by Glenn Smith, REALTOR, Bean Group

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

Bow, NH – Condominium Sales Stalled In August

Susan Crush — Tue, 08 Sep 2009 00:03:17 +0000

There were no condo sales reported in Bow for the month of August and only two are in contract with contingencies. Both are in the Windchimes 55+ community with an average asking price of $318,000.

There are 39 condominiums for sale in Bow ranging in price from $106,900 (a foreclosure in Windchimes) to a high of $384,000 in The Pines of Bow. The average asking price is $295,010 with a median of $299,000. Bow has only one condominium complex that is not designated for those people who are 55 and over…The Highlands At Bow. Asking prices here range from $179,900 up to $247,900 and there are 8 available for sale. The Pines of Bow offers 12 homes ranging in price from $249,900 to $364,900. There are 8 homes available in White Rock Cottages ranging from $250,000 to $306,000 and 6 in Stone Sled Farm from $279,000 to $345,000.

Sales figures for the Third Quarter of 2009 will be available around the first week of October.

Contributed by Susan Crush, Associate Broker, Bean Group

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