Mid-Year Commercial Property Market Report 2010; New Hampshire & Carroll County

August 3rd, 2010
by Kathleen M. Kizer

Mid-Year Commercial Property Market Report 2010 – New Hampshire

New listings, back on the market, expired listings and withdrawn commercial listing all DOWN; while pending sales, contingent contracts, successful closing and overall property values are UP.

• 1,658 New listings… down 3.3%
• 587 Commercial listings Back on the Market…down 7.1%
• 186 Pending Contracts…up 16.3%
• 116 Contingent Sales…up 8.4%
• 1622 Expired Listings…down 4.4%
• 285 Commercial listings were Withdrawn…down 21.3%
• 178 Commercial properties resulted in a successful close…up 32.8%
• $298,495.00 Average price of Commercial Sales…up 5.6%
• 236 Average DOM (Days on the Market)…up 15.7%
• Lowest Sale Price… $10,000., 6 Folsom Road, Ossipee |The sale realized 60% of its original asking price, and spent a reported 37 DOM
• Highest Sale Price…$3,750,000., 30 Maplewood, Portsmouth|The sale realized 100% of its asking price and spent a reported 184 DOM

Mid-Year Commercial Property Market Report 2010 – Carroll County, New Hampshire

• 122 New listings…up 11.9%
• 45 Commercial listings Back on the Market…up 21.6%
• 14 Pending Contracts…up 75%
• 16 Contingent Sales…up 14.2%
• 127 Expired listings…down 5.9%
• 18 Commercial listings were Withdrawn…down 55%
• 15 Commercial properties resulted in a successful close…up 87.5%
• $245,262 Average price of Commercial Sales…down 15.1%
• 224 Average DOM (Days on the Market)… no change
• Lowest Sale Price…$10,000., 6 Folsom Road, Ossipee | The sale realized 60% of its original asking price and spent 37 DOM
• Highest Sale Price…$1,400,000., 2451 White Mountain Highway, Conway | The sale realized 100% of its asking price and spent a reported zero DOM

A mixed review for Carroll County commercial properties… Commercial owners actively working towards a successful transfer are reporting signs of improvement with pending contracts, contingent sales, and successful closings…however there are more sellers working towards the same positive results as reported in the up-tick of new listings and back on the market opportunities. Withdrawn listings have decreased in anticipation of meeting their goals, perhaps waiting to be one of the successes counted in the year-end stats. Current inventory remains high with a four year supply of listings but there is a trend reflecting a decrease in overall market values and with all the uncertainty in national, state, local and personal economics, we could be in for an extended “slow down.”

Based on information from the Northern New England Real Estate Network, Inc. for the period January 1st – July 31st, 2009 & January 1st – July 31st, 2010.

Contributed by Kathleen M. Kizer, REALTOR, ABR, GRI, ePRO, Associate Broker | Costantino Real Estate, LLC. “Your Lakes Region Professional” | Certified Residential Appraiser, NHCR-616, Wolfeboro Appraisal Services

For further inquiries or questions please e-mail to Kathleen@LakesRegionBroker.com or call 603-539-3200.