What’s Really Happening to Real Estate Values in the Mount Washington Valley: 1st Half Analysis

July 3^rd is looking like a very good day. The sun finally broke through the clouds after who knows how many days of rain in the Mount Washington Valley, and the first half of the year real estate statistics are much better than I was expecting!

Here is a look at the first half of 2009 and how it compares with the same period of 2008.*

As you can see, the number of Sold listings is the same! Sold volume is down, but not nearly as much as it was in the first quarter (click here for 1^st quarter stats). The average days on market is decreasing, always a good sign, and the number of new listings coming onto the market is rising. All of these are indicators that the single family home market in the North Conway NH area is starting to stabilize. What a great way to kick off the summer, our busiest season of the year.

The condo market continues to lag behind the single family homes market in the Mount Washington Valley. However these numbers are a serious improvement over the 1^st quarter numbers. (Click here to see them). If you remember, condo sales in the 1^st quarter were down 50% and sales volume was down 63%. Although prices and sales are still declining, they are not declining at such a drastic pace. This is definitely positive news, and hopefully the “upward trend” will continue through the summer months.

Extremely low interest rates and the benefits of the First Time Homebuyer Tax Credit are definitely helping to turn the Mount Washington Valley real estate market around.  Now, if we could just get this weather to turn around, we will be in really good shape for the summer!

As always, feel free to email me with any questions, comments or for any specific data.

Happy Independence Day!

Joy

*Based on information from the Northern New England Real Estate Network for 1/1/08-6/30/08 and 1/1/09-6/30/09  for the towns of Albany, Bartlett, Conway, Eaton, Hales Location, Jackson & Madison.

This entry was posted on Friday, July 3rd, 2009 at 3:00 pm and is filed under NH Investment Real Estate, NH Real Estate Statistics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.