Market Report: Concord NH Homes Sold August 2011

Concord NH Market Report

Where Are All The Deals in Concord NH Real Estate These Days?

Let's look at the homes sold data for the first six months of this year and compare them to the same time periods for the last three years. In this report, the number of homes sold was the highest at 168 in 2008 when the Great Recession was well entrenched. Home sales fell off to 128 homes in 2009 while the now expired Federal Home Buyer Tax Credit was in effect. As buyers realized the Tax Credit was about to expire in 2010, sales picked up to 150 homes. For this year the increase in demand seems to be holding as 161 homes sold up from 2010. Here is the really interesting factor. The average days on market for these sold homes was 118 days in 2008 when the most homes were sold but here in 2011 we see that the Days On Market is at it's lowest with 109.

Concord NH Real Estate is More Affordable Today

Looking at the average sales price for our sold homes, we see $221,155 at the highest in 2008 and this year average sales price is down to $185,317, 16% lower overall. When we look at the median prices for Concord NH homes, we see where the market trend really ends up. The median price is the price at which 50% of the homes sold below this price and 50% sold above this price. 2008's median was $195,000 and is now 12% lower overall at $173,500.

Looking For Homes In Concord NH?

In answer to our opening question, the deals are everywhere. There are currently 269 condos and homes for sale in Concord NH as of August 30. Home prices are down 16% overall from four years ago and interest rates are as low as they will go. If you are a first time buyer, this is your market and the time is now before interest rates go up.

If you are a move up buyer, the difference now is that $450,000 home you wanted is now only $378,000. Sure you may have to sell your current home for less than you would like but if you could save $72,000, wouldn't that be worth more than what you would be giving up?

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.