For starters I’d like to say that I am excited for 2012! No I don’t have any amazing predictions, but we’ve now made it through FOUR years of a depressed market. Every year that goes by gets us one step closer to hopefully a more balanced marketplace.
As you will see below, I have compiled an immense amount of data from our local real estate market. In this post I am just sharing the overall snap shot of 2011 compared to previous years. I will be posting much more detailed information on specific parts of the market segments, for example – waterfront property stats and individual town and price point snap shots. If at anytime while you are reading this you feel as though I have left something out, please let me know!
I would like to highlight a few of our primary towns and how they held up in 2011.
- Home sales in New London, NH were up 6 sales compared to 2010 but down 3 home sales from 2009. The median sales price is down $58,625 to $283,875
- Home sales in Sunapee, NH were up 3 sales compared to 2010 and down only 2 home sales from 2009. The median sales price is up $205,450 to $499,000
- Home sales in Newbury, NH were down one sale compared to 2010 and at the same level of home sales in 2009. The median sales price is up$93,562 to $331,500
- Home sales in Grantham, NH were down 12 sales compared to 2010 and up 7 sales since 2009! The median sales price is down $31,500 to $258,500
- Home sales in Warner, NH were down 5 sales compared to 2010 and only down 2 sales since 2009. The median sales price is down $14,050 to $199,900
- Home sales in Sutton, NH were down 4 sales compared to 2010 and down 11 sales since 2009. The median sales price is up $29,500 to $210,000
As you will see, the numbers are still down in some of our primary towns and due to a higher than normal amount of high end sales, the median prices are fairly elevated for Sunapee and Newbury. As I have said numerous times before, if you have been on the fence about buying, I believe now is the time if it makes sense for you financially. I am not just saying this because of the low prices but because of the historically low rates that are STILL available today. As I discussed in a previous post in 2010, The True Value of Today’s Real Estate Market and Rates – the long term value today’s market provides is substantial. It’s impossible to say exactly when each local market is going to rebound and if we are at the bottom but I have to believe we are either at or extremely close to the bottom of the economic downturn in our region. Over the next couple years we will most likely see median home prices and home sales increase positively.
In the charts below, I have detailed out the historical sales information for the majority of the towns we service. If you click on the images below it will take you to a slightly larger version of the document but if that is still too hard to see, please feel free to email me and I can send you a full copy of the spreadsheet. If there is a town that is not on the list and you would like similar information just let me know.
2011 Merrimack County Year End Sales Stats
2011 Sullivan County Year End Sales Stats
If you have any questions about the market data or if you would like to know more about buying or selling real estate in the Lake Sunapee Region, please feel free to call 603-252-6428 or email me today! dano@colbyinc.com
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*All data used is from NNEREN MLS and is subject to Human Error : )
This IDX solution is (c) Diverse Solutions 2012.