Epping NH Real Estate Report September 2010

We are looking at homes sold data for the last four years verses the last twelve months to determine the state of the market in Epping NH. There were 97 homes sold in 2006 with average time on the market of 134 days. In 2007, 113 homes sold with average time a lengthy 186 days. In this study, 2007 had seen the highest number of homes sold with the longest market time. Recessionary pressures were seated firmly in 2008 where we see only 84 homes sold and days on market decreased about a month to 151 days. While the Federal Home Buyer Tax Credit was established to prop up a sagging market in 2009, 92 homes sold with another 30 days less at 121 days. In the last twelve months, we have seen 98 homes sold with 97 days on market.

Epping NH Real Estate Average Sales Price

The average sales price was $299,535 in 2006 and fell 11% to $265,702 in 2007. 2008 gave us a dip of 7% to $246,455 and look how the Tax Credit helped average price in 2009 by dragging it down another 13% to $214,916. From 2006 to 2009 average price lost $84,619 or 29% of its value. In the last twelve months average price has improved 5% to $225,585. Comparing Epping's ASP chart on the left to the State's ASP chart on the right, from 2006 to 2009 average price in the entire state lost $47,342 or only 17% and is up 2.8% in the last twelve months.

Epping NH Market Trend

There is no doubt the now expired Federal Home Buyer Tax Credit had an effect on our markets. Unfortunately, the Tax Credit was an artificial component of the market and had it's un-natural results. Epping's market was impacted in a way that outperformed the State's market in terms of lost values and Epping is again outperforming the State in terms of average prices on the rise. Does that mean "what goes down must come up"? As the market approaches normalcy, we are seeing activity up and average prices will be along for the ride.

As of 9-19-2010, there are 85 homes and condos on the market in Epping with 7 sales pending. Buyers have to understand that their purchase power is at its peak with the lowest interest rates in decades, reasonable home pirces, and lots of inventory.

Is now a good time to buy Epping NH Real Estate? You bet! That's good news for sellers, too.

About The Author: This blog is provided by Marty Patrizi a Realtor with Virtual Homes Real Estate. Marty can be reached at 603-781-4099 or via email: marty.patrizi@virtualhomes.com.

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Epping NH Real Estate Market Activity August 2010

We are looking at homes sold data for the last four years verses the last twelve months to get an idea of where the market is headed. In 2006, we saw 97 homes sold and the average days on market was 134. 2007 brought us a 17.5% increase in the number of homes sold at 114 but they were taking 38% longer to sell with average days on market at 185. In 2008, with the recession in full bloom we saw a 26% decrease in the number of homes sold to 84 with a drop of 18% less time on the market at 151 days. With the Federal Home Buyer Tax Credit, 2009 saw a 9.5% increase in homes sold and the time on the market dropped another 20% to 121 days. The indication is demand was stronger than 2008.

Epping NH Real Estate Average Sales Price

Average sales price in 2006 was $299,535 and fell 11.5% to $264,949 amidst the highest number of homes sold for our data. 2008 saw average sales price drop another 7% to $246,455 and again, in 2009, dipped 13% to $214,916 as the Tax Credit tried to help prop up the market.

Epping NH Real Estate Market Trend

In the last 12 months, we have seen the number of homes sold up 7.6% to 99, the days on market drop 16.5% to 101, and the average sales price has climbed 5.3% to $226,315. There is no doubt that the now expired Federal Home Buyer Tax Credit had an effect on the market. Unfortunately, the Tax Credit was an artificial component of the market and had its un-natural results.

With more homes selling, less time on the market, and average sales price up, this study gives us the impression that demand is good. Buyers understand that the lowest interest rates in decades, reasonable home prices, and lots of inventory brings their purchase power to its peak. Investment Strategy 101: buy low, sell high. Epping NH Real Estate Market is poised to give current buyers much up side potential in the future.

Is NOW a good time to buy Epping NH Real Estate? You bet!! Good news for sellers, too.

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Your comments on this study are welcome, thank you for your attention.