Summer is here and the Southern New Hampshire real estate market is well underway. Like most parts of the country, we're experiencing a slow down in housing sales primarily due to the Coronavirus outbreak and associated economic problems it's causing: in particular increased unemployment and an unstable stock market. Many are holding tight and saving their money, staying put right where they are. Some areas of the country are still sheltering at home and some are totally back to "normal," but here in New Hampshire we are still cautiously reopening. The number of homes for sale is much lower than we normally see in the summer market, but there are still many properties being listed and sold every day.
With the number of homes for sale remaining low, it's still a Seller's market. Interest rates have lowered again, although underwriting standards have tightened a bit on home mortgages. Comparing May 2020 to May of 2019, new listings were down 31%, median sales prices were up 6.6% (to $319,900), the volume of closed sales was down 22.4% and days on market were down 7.3% (to 51 days). Interest rates have been hovering near all-time lows around 3.3%, spurring renewed buyer interest; welcome news to the real estate industry.
If you're ready to buy or sell, call us, we’re ready to help you no matter what you want to do: buy, sell or invest in single family homes, condos, townhomes, multi-family properties or vacant land. If we don't have it listed, we can find it for you!
Hudson, NH 603-809-3399