Dover NH Real Estate Report - Q1 2008

Dover is the town I grew up in and I have an enduring fondest for it. We have definitely seen some changes when reviewing the first quarter of 2007 to the first quarter of 2008. In 2007 there were 94 single family homes & condos sold and in 2008 that number has dropped to 61. That computes to a 35% drop in total units sold. Granted we did just live through the snowiest winter on record. Not an easy time to look at houses let alone move in.

The first three months of 2008 did see a slight decline in average sales price to $270,079 vs. $281,254 for the same period in 2007. A 4% decrease is more than acceptable but 102 homes came on the market during this time. That is quite a bit of unsold inventory. The average days on market have also increased. In 2007 it took an average of 122.33 days to sell a home in Dover - we are currently looking at 151 days on market average.

There are currently 262 homes for sale in Dover ranging in asking price from $129,500 to $2,500,000. If you are interested in living in Dover there are a lot of homes to choose from. Now would be the time to offer realistic values for the homes available. In order to reduce the inventory, Sellers may have to become even more resilent about their pricing. We are currently looking at over 12 months of inventory to be sold. Reasonably priced homes will sell no matter the general market.

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