Portsmouth NH Homes Condos Real Estate

Newcastle, North Hampton, Greenland - New Hampshire Homes Real Estate Update - Nov. 2008

The Seacoast areas of New Hampshire and Southern Maine are really very pretty areas, and we have a very diverse real estate market here.  Some towns have felt the downward turn in the real estate market more than others, and some have weathered it much better than areas around the country.

We always have a strong demand for NH homes and condos here in the Seacoast because of our location - we're right here along the Atlantic Ocean, and we're 45 minutes north of Boston, 45 minutes east of Manchester, and 45 minutes south of Portland Maine - all great cities with airport transportation for those needing it.  We are also just a little over an hour away from mountains for great winter snow skiing and other winter sports.

Here are Seacoast NH real estate updates for the month of November 2008:

Newcastle NH:

Homes for sale ---   12
Average Asking Price --- $1,299,750
Days on Market --  216 days
New Listings in Nov   --- 1

Homes Sold in Nov. ---  2
Average Sold Price  --  $2,000,000
Average Days on Market --  154 days
List to Sell Ratio   ---  90%

Homes Sale Pending/Under Agreement  ---  1
Average Asking Price   ---  $585,000
Days on Market  --  158 Days

2 listings expired in November

North Hampton New Hampshire:

Homes for sale  ---   54
Average Asking Price   ---  $686,677
Average Days on Market   ---  214 days
New Listings in Nov.   ----   6

Homes Sold in Nov ---   3
Average Sold Price  ---  $599,967
Average Days on Market    ---  262 days
List to Sell Ratio  ----   91%

Homes Sale Pending/Under Agreement in Nov.  --  2
Average Asking Price   ---- $467,000
Average Days on Market   ----   381

8 homes expired from the market without selling in North Hampton during November.

Greenland New Hampshire:

Homes for sale  ---   28
Average Asking Price  ---  $481,743
Average Days on the Market  ---  147
New Listings in Nov.   ---   3

Homes Sold in Nov.  ---   3
Average Sold Price  ---  $273,433
Average Days on the Market ---  64 days
List to Sell Ratio  ---97%

Homes Sale Pending/Under Agreement in Nov.  ---  3
Average Asking Price  ---  $354,600
Average Days on the Market ---  104 days

4 homes expired in Greenland without selling during November.

Homes generally expire from the market without selling because they weren't priced properly for the market and/or for the condition that the home or condo was in.  Buyers just don't see them as a good value for the money, so they move on to the properties that are price properly.

If you're thinking about selling your home, one very important fact to know about your market is the absorption rate.  The absorption rate will tell you how long it will take for the current inventory of homes in Greenland, North Hampton, and New Castle NH to be absorbed by the market if no other homes come on the market.  The absorption rate for November 2008 in Newcastle NH was 6 months, North Hampton's absorption rate was 18 months, and for Greenland it was just over 9 months.  If you want your home sold, you need to know this number to help you price your home accordingly.

Are you a homeowner in the New Hampshire or Maine Seacoast area you're thinking about seling your home or condo?  If so, call me today at 888-349-5678 x 3839, or send me an email at ann@anncummings.com, and let's talk real estate!

Related Reading:

Seacoast New Hampshire Real Estate Market Reports
Absorption Rates and Why They're Important to Know

New Hampshire and Maine Homeowners

                        Should I put my home on the market during the holidays?

I get asked this question frequently, and it seems to the top question for NH and Maine Seacoast homeowners when I talk to them this holiday season.  My answer is, "if you're serious about selling your home, then by all means let's go ahead and put it on the real estate market for sale!" 

If a homeowner isn't really serious about selling, then this is certainly not the time to 'test the market', not that there ever is a good time to do that.  If you're not serious about selling, why go to all that effort and hire an agent to expend time, effort, and money trying to get your home sold when you don't really care whether it sells or not?

Buyers need to buy homes, and they don't aways get to choose the optimal time of year to do so.  Those buyers who are out looking during the holidays are serious buyers.

Here are the top 7 reasons to seriously consider putting your home on the market for sale during the holidays:

--  Buyers looking during the holidays are very serious buyers and they usually have to make quicker decisions about buying.

--  There are fewer homes on the real estate market during the holidays, so your competition is less, which means there aren't as many homes for serious buyers to choose from.

--  Buyers who are buying during the holidays usually have that specific time off to look and buy.

--  Your home is beautifully decorated and therefore shows warmth and happiness to those looking at your home.

--  Residential real estate is all about emotions, and buyers' choices on a home to pursue is typically based on the home that gives them happy and warm feelings.

--  Many job transfers and relocations take place at the end of the year or during January, and by having your home on the market during the holidays, you can tap into those buyers who have to buy for job transfers.

-- There are buyers who want/need to buy before the year ends for tax purposes and financial reasons.

If you're a homeowner in the New Hampshire or Maine Seacoast area and you're thinking about seling your home, give me a call and we can talk further about getting your home on the market.

Are you thinking about making the  Portsmouth New Hampshire area or any of the surrounding Seacoast towns your home?  Call me today at 888-349-5678 x 3839, or send me an email at ann@anncummings.com, and let's talk real estate!

Related Reading:

Seacoast New Hampshire Real Estate Market Reports
Absorption Rates and Why They're Important to Know

Servicing the New Hampshire towns of Portsmouth, Newcastle, Rye, North Hampton, Hampton, Stratham, Exeter, Greenland, Newington, Dover, Durham and surrounding areas, and the Maine towns of Kittery, Kittery Point, Eliot, South Berwick, York, and surrounding areas.

Rye New Hampshire Homes - Rye NH Real Estate Market Update

Rye New Hampshire is a lovely slice of NH beauty right along the coastline.  Rye has rocky coastline and sandy beaches, as well as beautiful inland areas.  We have some gorgeouse new construction and newer homes right alongside antique farmhouses, and we have seasonal cottages, too.

The real estate market in Rye NH has been like many other NH and Maine Seacoast towns here in this area, up and down.  Like everywhere else, everyone always wants to know how the real estate market is, here in Rye and all along the Seacoast areas.  Real estate impacts so many facets of the local economy, and many use that as a gauge for how things are now and where they might be going in the near future.

Rye NH homes real estate market for the month of November:

**  Rye currently has 63 homes for sale through the Multiple Listing Service (MLS), and 5 of those homes were new to the market in November.  The average asking price is $1,191,994, and the average days on the market for those homes for sale has been 231 days.

**  During the month of November, we saw 2 Rye NH homes go sale pending/under agreement.  The average asking price of those homes was $342,950, and the average days on the market was 48 days for those homes.

**  Four homes in Rye sold/closed during November, and the average selling price of those homes that sold was $526,175, with the average total days on the market for those homes being 56 days.  Those sellers who sold their homes in Rye during November received 96% of their last asking prices. 

**  We saw 9 homes in Rye expire from the market without selling.  The main reason homes don't sell during their listing period is they were priced incorrectly for the market and/or condition of the home.  And most likely, these 9 homes didn't sell because they weren't priced correctly, and buyers didn't see them as a good value for the money.

If you're thinking about selling your home, one very important fact to know about your market is the absorption rate.  The absorption rate will tell you how long it will take for the current inventory of homes in Rye NH to be absorbed by the market if no other homes come on the market.  The absorption rate for November 2008 was just under 11 months, which is a little higher than October and a little less than September.  If you want your home sold, you need to know this number to help you price your home accordingly.

Are you thinking about making Rye New Hampshire or any of the surrounding Seacoast areas your home?  Call me today at 888-349-5678 x 3839, or send me an email at ann@anncummings.com, and let's talk real estate!

Related Reading:

Seacoast New Hampshire Real Estate Market Reports
Absorption Rates and Why They're Important to Know

Portsmouth New Hampshire Homes Real Estate Market Update - November 2008

It seems like everyone is always interested in how the local Portsmouth real estate market is doing, even if they themselves aren't in the market, either buying or selling homes or condos.  How the real estate market is doing seems to have great impact on many other aspects of local economies, and we all care about that.

Someone is always looking to buy or sell real estate, and/or they know someone who is thinking about buying or selling real estate.  I get asked about real estate and the local real estate market all the time.   I love helping people achieve their real estate goals, so I never tire of these conversations!

So, how did the real estate market for homes in Portsmouth NH do for the month of November 2008?

~~  Currently, we have 69 homes offered for sale through the Multiple Listing Service (MLS), and 7 of those homes were new listings this month.  The average asking price was $326,150, and the average days on the market for these homes has been 112 days.

~~  During the month of November, we saw 9 Portsmouth homes go under agreement/sale pending.  The average asking price of those homes was $302,978, and the average days on the market for those homes was 138 days.

~~  We saw 11 homes in Portsmouth sell/close during November, and the average sold price of those homes was $384,491.  The average days on the market for those homes was 78 days.  Those sellers who sold their homes in November received, on average, 96% of their last asking prices.

~~  During the month of November, the listings on 7 Portsmouth NH homes expired without selling.  The number one reason most homes don't sell during their listing period is they were priced incorrectly for the market and/or condition of the home.  And most likely, these 7 homes didn't sell because they weren't priced correctly, and buyers didn't see them as a good value for the money.

When thinking about selling your home, one very important fact to know about your market is the absorption rate.  The absorption rate will tell you how long it will take for the current inventory of homes in Portsmouth NH to be absorbed by the market if no other homes come on the market.  The absorption rate for November 2008 was just over 6 months, which is a little higher than last month and a little less than the month before.  If you want your home sold, you need to know this number to help you price your home accordingly.

Thinking about making Portsmouth New Hampshire your home?  Call me today at 603-431-1111 x 3839, or send me an email at ann@anncummings.com, and let's talk real estate!

Related Reading:

Seacoast New Hampshire Real Estate Market Reports
Absorption Rates and Why They're Important to Know