Tag Archives: stock market

What’s happening in the regional real estate market…

With the stock market crashing around the world, banks going out of business on a weekly basis, money and the real estate market seemed to have dried up. Let’s look at the numbers instead of just listening to the hype. Here are the statistics comparing the year to date (Jan through Sept) in the Mount Washington Valley*:

Residential Properties

2007

2008

Change

# Sold

358

298

-17%

Sold Volume

$75,948,755

$56,362,151

-26%

Avg. Sold Price

$212,147

$189,135

-11%

Avg. Days on Market

149

201

35%

Despite all of these negative numbers, there is some good news. First time homebuyers can finally afford to purchase property, something that hasn’t been a possibility for the past 5 years, and buyers in all price ranges can get a really good deal. Sellers, on the other hand, will be able to make up for the loss on the selling side, when they get a fantastic price on the next home that they purchase.

If you do need to sell your home in the next 12 months, the most important thing to keep in mind is to price your home ahead of the market: the closer you are to market value, the more competitive your offers will be. If not, you will end up chasing the market down and always being a step behind. We can help you with this, as we are still doing what we have always done, and our sales volume has not dropped during this period.