Alton NH Propertunities More Affordable Now July 2011

Looking at the homes sold report Alton NH Real Estate for the first six months of this year compared to the same time period for the last three years shows us the affordability index is up. In the first six months of 2008, 29 homes sold and in '09 were up 31% to 38. 2010 bumped up slightly to 40 homes but fell off sharply this year to 27. The average days on market for these periods were 181, 144, 121, and 174 respectively.

Looks like demand for Alton NH Homes and Condos was at it's highest in the first half of 2010. This seems strange because the Affordability Index appears to be at it's highest today. Looking at the Average sales prices in these periods we see 2008's average sales price was $436,656 and plunged 44% to $241,737. 2010's average sales price perked up 53% to $371,895 and seems to be leveling off in 2011 to $384,252. Here is the real kicker. Alton NH contains waterfront properties on Lake Wnnipesaukee that can really skew relative sales prices. Let's look more closely at Median sales prices or what I like to call the Affordability Index. The median sales price is the price in the middle of the data, in essence, 50% of the prices fall below the median price and 50% are above.

Median sales price in 2008 was $260,000 and fell 21% to $213,750 in 2009. Median price was pinging higher in 2010 to $224,250 and fell 9% so far this year to $205,000. So in the spirit of the Affordability Index, The lower the number the higher the affordability. Looks like Alton NH Homes are more affordable today. When you factor in that interest rates are as low as they can go, homes in Alton NH are more affordable, and the inventory of homes and condos is 176 units strong, it's a great time to buy.

About the Author: Marty Patrizi is a full service New Hampshire Realtor at Virtual Homes, Inc. and his emphasis is on "service". Marty works as a Buyer's Agent and a Listing Agent. Marty is also a building and renovation Contractor since 1988. As a buyer's agent, Marty's extensive construction experience puts him ahead of other buyer agents because he has the ability to determine value and costs related to repairs and updates needed. As a seller's agent, he knows that buyers come from searching on line and how to generate more qualified buyers through maximum exposure of his client's properties on the internet. Marty can be reached direct at 603-781-4099 or by email marty.patrizi@virtualhomes.com.