Portsmouth NH Homes Condos Real Estate

Exeter NH Homes | Exeter NH Condos

This past year in the Exeter New Hampshire real estate market, we saw the number of new listings that came on the market in 2007 drop quite a bit from 2006 for both Exeter homes and Exeter condos.  The average days on the market for both homes and condos increased by a good amount.  Some of the other Seacoast towns saw about the same types of variations in their numbers, while others saw much less of a difference between the two years.

In the market we've been in, and are still experiencing, sellers MUST pay very close attention to what the market is saying about pricing.  Those who sold this past year or so priced their properties appropriately for the market at that point in time.  It's always important to properly price any property, and it will remain ever more important this year as well.

• Sales of Exeter NH homes sold in 2007 was the exact same amount as was sold in 2006.  We saw 107 homes sold in each of the last 2 years.  In 2006, there were 241 homes that were put on the market for sale, and in 2007, we saw 198 homes come on the market for sale.
  
  
• Average sales prices of Exeter homes was down a little less than $50,000 in 2007 from 2006.  The average sales price in 2006 was $430,363, and in 2007, the average sales price was $387,653.

• Our average days on the market saw a similar change from 2006 to 2007.  The average days on the market for 2006 was 115 days, while in 2007, it took on average 156 days to sell.  The average list-to-sell ratio saw a slight change as well.  Sellers received on average 99.1% of their last asking price in 2006, and in 2007, they received 95.8% of their last asking price.
  

• Sales of Exeter NH condos were down somewhat from 2006 to 2007.  In 2006, we saw 91 condos sell, and in 2007, there were 74 condos that sold.   And we saw a proportionate difference in the number of condos that were offered for sale in 2006 versus 2007.  We had 162 condos come on the market in 2006, while 140 condos were offered for sale in 2007.
  
  
• The average sales price in 2006 was $199,010, and in 2007, it was 199,069.  We saw the average sales price remain just about the same in the Exeter condo market.
  
  
• Average days on the market increased in 2007 over 2006.  It took, on average, 120 days in 2006 to get a condo sold, while in 2007, the average days increased to 176 days.  In 2006, sellers received 98% of their last asking price, and in 2007, sellers saw an average of 97.8% of their last asking price - not much difference in those numbers.
  

• Sales of Exeter NH multi-family properties remained about the same in 2006 and 2007.  We saw 11 sales on multi-family properties in 2006, and 12 were sold in 2007.   While the number of sales were about the same, the number of properties offered for sale in the two years was vastly different.  We had 63 multi-family properties for sale in 2006, and just 15 properties for sale in 2007. 
  
  
• We saw some interesting changes in the average sales prices in the 2 years - 2006 had an average sales price of $377,535, and the average sales price in 2007 was $417,388.  This is an interesting turn in the numbers, and it will be very interesting to see how sales of multi-family properties do in 2008, with a $40,000 increase in average sales price for this past year.
  
  
• Another interesting number, albeit in a different direction, is the change in the average days on the market.   It took 165 days on average in 2006 to sell a multi-family property, and that number increased to 289 days in 2007.  The average days on the market got longer and the average sales prices increased....

 

December was a busy month, and January appears to have gotten off to a good start as well.  Here's to a great 2008 for real estate in Exeter and the surrounding towns, as well as all across the country!

If you're interested in buying or selling real estate in the Exeter NH area, I'd welcome the opportunity to meet with you and talk about how I can help make your goals become a reality!

Happy New Year!



                                  
  Ann Cummings
  RE/MAX Coast to Coast
  Portsmouth NH
  ann@anncummings.com
  888-349-5678 x 3839
  Servicing the Coastal Areas of NH & Southern Maine                    

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