New Hampshire and Maine Homes and Condos

Rye, New Castle, North Hampton - Real Estate Market Report Updates for Sept 2008

The Seacoast areas of New Hampshire are really some of the prettiest towns you could want to live in.  And the towns of Rye, Newcastle, and North Hampton are no exception to that statement.  Our coastline here in NH is the smallest in America, and it’s also among the most scenic as well.  Those of us who live here just love it, however small it is!

Real estate in this area always has a constant demand because of our location, and not just because we’re along the Atlantic Ocean.  We are within an easy driving distance to Boston, Portland Maine, and Manchester NH - all less than an hour to get to.  The NH mountains for skiing and beautiful scenery are just an easy drive as well.  We have loads of great dining, shopping, golfing, scenic rides, and so much more that just all come together to make this area a wonderful place to call HOME!!

Here are the real estate updates for the month of September 2008:

New Castle NH:

• – We currently have 18 homes for sale in Newcastle, with an average asking price of $1,318,444, and an average days on the market of 265 days.
• – During September, 1 home went under agreement/sale pending, and that home had an asking price of $1,050,000.  It had been on the market 166 days.
• – September brought just 1 closed sale/sold, and that house sold for $1,082,357.  The asking price on that house had been $1,190,000, and it took 738 days to sell that house.

Rye NH:

• – We currently have 68 homes for sale in Rye NH, with an average asking price of $1,214,247, and the average days on the market is 190 days.
• – The month of September saw 5 homes go under agreement/sale pending, and the average asking price of those homes was $701,580, with the average days on the market of 93 days.
• –  There were 9 homes sold in Rye in September, and the average selling price of those homes was $739,621, while the average asking price of those homes was $778,722.  The average days on the market before selling was 180 days.

North Hampton NH:

• –  We currently have 64 homes for sale in North Hampton NH, with the average asking price being $773,177.  The average days on the market is 203 days.
• –  One home went under agreement/sale pending, and the asking price of that home was $292,500.  The days on the market for that home was 94 days.
• – We had 2 homes sold in North Hampton in September, and the average selling price of those homes was $300,000.  The average asking price was $321,250, and the average days on the market was 98 days.

While those numbers certanly aren’t great, they are showing us that it’s a great time to be a home buyer in this area.  With real estate moving a little slower of late, and plenty of homes on the market, buyers have choices and they have some excellent negotiating oportunities in this market.

What does all this mean for sellers in these areas?  It means if you want to sell your home, you need to price it aggressively and have it in the best condition you can get it in.  Buyers have a lot of choices in some of our Seacoast towns, and you want to do everything you can to make your home their choice.  And you must start with the price.  If you price your home too high for the market, you may as well just not bother putting it on the market at all.

This market is ruled by price, and if your home isn’t perceived to be a good value before buyers look at your home, you’ll never get a chance for them to see what it really looks like.  They just move on to another property that they do perceive to be priced realistically for the area and the market.

Read also:

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