2009 Year in Review for Mount Washington Valley Real Estate
The fireworks have fizzled, the champagne’s been drunk, and most of us are in the midst of the first 5 day work week in awhile. Let’s take a look at what happened to the real estate market in the Mount Washington Valley in 2009. Below is a chart of single family homes and condos in the valley.
| 2008 | 2009 | % Change | |
| # Sold | 357 | 411 | +15% |
| Sold Volume | $79,794,509 | $83,437,868 | +5% |
| Avg Sale Price | $223,514 | $203,012 | -9% |
| Avg DOM | 185 | 157 | -15% |
As you can see, number of sales and sales volume are up, but prices continued to fall. 2008 was a pretty dismal year for real estate, so saying that number of sales and sold volume are up compared to it, is not really a big event.
But, at Joy Tarbell Realty we aren’t exactly complaining … lower prices are helping to increase the number of sales by enticing buyers with great deals, but the market still has a long way to go before it fully recovers. New Hampshire Public Radio recently published some very interesting statistics, including the fact that foreclosures were up 30% for the month of November, compared to the same month in 2008. To read the full article about foreclosures and unemployment rates, click here. The statistics and information available lead us to believe that it is still an upward battle to get back where we were in 2005 and 2006.
My conclusions:
- If you want to sell, you will make up for it on the buying side. But if you don’t have to sell, holding on to your real estate for another 3-5 years might be your best option.
- If you are a buyer, there are going to be plenty of great deals to be had in 2010. If you want to be the first to know about them click here to sign up for our automatic property alert, or check out Joy Tarbell Realty’s best buys.
Here’s to a successful 2010!
PS – If you want further details on NH real estate statistics, check out the NH Association of Realtors website. It’s a great resource.
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