Rochester NH - Real Estate Report Q1 2008

Rochester is the 5th largest City/Town in New Hampshire with 30,117 residents according to the 2006 Census. There are 13,324 housing units in the City and currently there are 257 single family homes & condos on the market. Homes in Rochester are ranging between $39,900 and $689,500.

In reviewing the first quarter of 2007 to the first quarter of 2008 we see a drop of 30% total units sold. In 2008 we sold 72 homes whereas in 2007, 103 homes were sold. The average sale price has also dropped by 10% from $192,167 to $173,049. Average days on market have increased by 34 days. It will take a whole month more to sell a home in Rochester. 150 days is the average for homes sold in 2008. We will have to wait until the end of the second quarter to know if this down turn is the market or the fact that we had record snow falls this winter. You could barely see a sign since they were all buried hip deep in snow banks.

Rochester offers a lot of opportunities for investors and first time home buyers. For Sellers it would be wise to carefully review your assesed value prior to putting your home on the market. Properties have been selling below their assesed value on a fairly regular basis. Realistic pricing is key in getting your house sold in today's market.

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Visit The Seacoast Sold Report for more information about Rochester and surrounding towns