Wolfeboro, New Hampshire July 2010…A Month in Review

Property Values and Sales are Up while Overall Market Activity Remains Sluggish!

The July market reports an 42% decrease in new Wolfeboro Residential Listings, property owners are reluctant to place their home on the market while inventory remains at some of the highest levels in years. Back on the Market homes have seen a 100% increase over 2009’s MTD stats. Pending sales combined with Contingent contracts were up 13.3%, and Sold homes reported a 125% increase. The average DOM (Days on the Market) had a slight increase of three days over last July, reporting an average of 126 days. The flip side to this scenario is while 9 homes sold in July the residential inventory remains high with 194 active residential listings valued between the low of $35,000. and the high of $11,950,000. Interest rates remain low however, lender qualifications are stringent and many potential buyers just don’t qualify. Sellers remain motivated and many are offering great value for the investment. Wolfeboro’s property values are up over last year’s MTD values by 17%.

July, 2010 vs. July, 2009 Wolfeboro’s Residential Real Estate Market

• 26 New Listings… down 42%
• 5 Homes Back on the Market…up 100%
• 17 Pending & Contingent Sales…up 13.3%
• 9 Expired Listings…down 35%
• 5 home were Withdrawn…up 25%
• 9 Residential Homes resulted in a successful close…up 125%
• Average Priced Sold Homes… up 17%
• Lowest Sales Price… $ 199,000., 2 Jennifer Circle…the sale realized 91% of its original asking price, remaining 171 DOM…
• Highest Sales Price…$1,483,000., 368 Sewall Road…a waterfront home on Lake Winnipesaukee. The sale realized 76% of its original asking price remaining 349 DOM…

July, 2010 vs. July, 2009 Wolfeboro’s Complete Real Estate Market (Residential, Condominium, Manufactured, Mobile, Vacant Land, Commercial, Business Opportunities, Rental & Boat Facilities)

• 29 New Listings… down 36%
• 16 Properties Back on the Market… up 220%
• 19 Pending & Contingent Sales…down 5.2%
• 30 Expired Listings… up 42.8%
• 9 Properties Withdrawn … up 125%
• 12 Properties resulted in a successful close… up 140%
• Average Price Sold…up 24.6%
• Average DOM…up 8.8%

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