Danville NH Real Estate Report August 2010

Danville NH Real Estate Report August 2010

We are looking at homes sold data for the last four years verses the last twelve months to determine where the real estate market is headed. In 2006, there were 37 homes sold and the average days on market was 70. 2007 saw an 8% decrease in the number of homes sold at 34 but the days on market doubled to 144 (recession looming). In contrast to recessionary pressures, 2008's market sizzled with 29% more homes sold at 44 and days on market dropped off to 117. The Federal Home Buyer Tax Credit was established in 2009 to prop up a sagging real estate market which had an opposite effect on Danville's market and the number of homes sold plunged 43% to only 25 homes sold on an average of 115 days on market.

Danville NH Real Estate Average Sales Price

The average sales price for 2006 was $314,300 and fell 16% in 2007 to $262,832. Contrary to when Danville's market was the most active, average price fell a modest 3.5% to $253,670. Even though the Tax Credit was in effect, Danville's values fell another 8% to $232,940 in 2009.

Danville NH Real Estate Market Trend

In the last twelve months, there have been 41 homes sold up 39% and the days on market has dropped to 90 days. Average sales price is yet lower again by 6% to $218,918. There is no doubt the now expired Federa Home Buyer Tax Credit has had an effect on the market. Unfortunately, the Tax Credit was an artificial component of the market and has had its un-natural results. The indications point to a market that is healthier than 2009 with strong demand for homes in Danville.

Buyers understand Investment Strategy 101: buy low, sell high. With the lowest interest rates in decades, reasonable home prices, and lots of inventory, buyers see their purchase power at its peak. Danville's real estate market is primed for some incredible growth for today's buyers.

Is now a good time to buy Danville NH Real Estate? More than ever! That's good news for sellers, too.

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