Just Released – November 2013 Market Report

Friday, December 20th, 2013 By Emily

The Carroll County November 2013 Market Report has just been released and can be reviewed here: November 2013 Market Stats

The residential market saw a little light at the end of the 2013 tunnel. The numbers of closed sales are up 6%, while new listings are only up 1%, which means we are using up some of the inventory. However, the average sale price went down 9% compared to this time last year, from $301,480 to $276,054, as the higher end homes are not selling as well as previous years. Days on market are the same.snowflake

Good news in the condo department this month…sales continue to bounce back. Although new listings are up 14%, the sold listings are up 32% from this time last year. What a great comeback year for condo sales! The average sale price also went up, from $152,488 in 2012 to $178,872 in 2013, as high end condos like Mountainside on Attitash are selling again. Days on market are about a week quicker this year.

We continue to be busy with ski season buyers and expect to finish the year strong. We have high hopes for the residential and condo markets in 2014!

For a price review on your property, please don’t hesitate to contact us.

Happy Holidays,

Joy

 

Based on information from the Northern New England Real Estate Network 1/1/13-11/30/13 for Carroll County.

September 2013 Market Report

Wednesday, October 16th, 2013 By Emily

Dear Clients and Friends,

The Carroll County September 2013 Market Report has just been released and can be viewed here: September 2013 Stats

The residential market looks pretty good this month, although still not the improvement we were expecting this year. Sales are up 9% while new listings are only up 3% when compared to this time last year. The average sale went down 6% from $284,555 in 2012 to $268,090 this year to date, as the higher end homes are not selling as well as previous years. Days on market are 10 days shorter.

Great news in the condo department this month! The condo market continues to bounce back, with new listings up 15% but more importantly, sold listings up 37% from this time last year. The average sale price also went up, from $155,194 in 2012 to $176,553 in 2013, a 12% increase. Days on market are just about the same. If this trend keeps up, it will compensate for the declines of last year.

We have a couple of good weeks left in our selling season before things quiet down for the holidays. For an updated price review on your property, please don’t hesitate to ask.

Happy Fall,

June 2013 Market Report for Carroll County

Monday, July 29th, 2013 By Emily

Dear Clients & Friends,

With continued improvement in several market areas across the country, it’s most important to stay up to date on our current market, as it can lag behind major metropolitan areas by a year or more. The June 2013 is ready for your review: June 2013 Sales Stats.

For the Single Family Home market, the number of sales is up 2% compared to this time last year, not a meaningful increase. However, new listings are up 4%, which means there’s a little more inventory out there than in past months. The median sale price is about the same, but the average sale is way down, from $305,531 last year to $233,707 this year. I believe that this means some of the lower priced homes have been selling as there hasn’t been that big an erosion in values. The average days on market is shorter this month, from 161 this time last year to 150 this year, almost two weeks quicker. This indicates a leveling off of house prices after some nice increases last year.

Condo inventory is increasing — there was a 21% jump over last year at this time. Fortunately, the number of sold listings is showing a bigger improvement with a 46% increase in number of sales, which we really need to get the inventory back down. The average sale price is up by 22% to $180,022 this year over last. But while condos are selling for more money, it is mainly because the cheap ones are gone, rather than any appreciation in current inventory. It is also taking a little longer: 160 days on market compared to 148 at this time last year.

Our peak selling season is just taking off, so if you’d like an updated Market Analysis on your property, just ask.

Your Realtor,

Joy

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Carroll County – to Buy or Not to Buy

Monday, July 22nd, 2013 By Emily

photoI think we all recognize the real estate market has stabilized and the increase in rates is reflective of this recovering market.  BUT- what that means to you exactly, if you’ve been window shopping on JtRealty.com, Zillow or Realtor.com… is if it is time to stop playing around and get serious?

Mortgage lending rates are higher, but not unreasonably so. Today’s rates still remain attractive from a historical perspective but if you’ve been postponing buying low- now is the time to pull the trigger.

You probably will wait a long time again before you see 3.5% 30-year fixed-rate mortgages.  At this time, 5% is likely the future rate, and that makes today’s rates, in the mid-4% range, look attractive in comparison.

In Carroll County, Residential Home prices have remained relatively flat over 2012.  When I refer to home prices- I mean what homes actually SOLD for, not the listing price.  With 266 new homes listed in June the inventory of homes on the market is up just 4.19% over June 2012.  The median sale price of a home is $177,500 as of June 30th, with average days on the market being 150.

For potential home buyers and for home sellers waiting to sell and upgrade their home- this market data is an indicator that now is the time.

  • Prices on homes aren’t going to get lower and you can anticipate a steady incline upward.
  • For those waiting to sell their home to get the most out of it and yet still buy low- don’t gamble any longer- now is the time!

If you wait longer, you may get more money on the sale of your home, but you will offset it with a higher priced home than what you can get today AND higher interest rates.

Condominiums in Carroll County are a hot commodity.  We have become a prominent 4 season vacation resort area…we are no longer that hidden gem in the mountains.  Condos in both summer and winter seasons do exceptionally well renting to vacationers.  For condominium owners, it’s an easy, hands off investment often supplemented with rental income making second homeownership possible.

There were 36 new condos listed in June making a total of 222 on the market in Carroll County.  Year to date, 98 condos have sold which is an increase of 46.27% over YTD in 2012.  The median sale price in 2013 for a condo is $167,000 vs $133,000 in 2012.

  • For potential condo buyers…you’ve missed the bottom of the market, but you can still buy low with low interest rates.  There are several loan programs available from local lenders to make this happen for you- ask me for a referral!  Our lenders are familiar with the condominium associations in the valley and can put together a loan program for you quickly and that will fit your situation.
  • There are condominiums with onsite rental programs and housekeeping.  You have a lockout closet or storage area to keep your personal belongings and the association does the rest.  When you want to use your condo- you call or reserve it online.
  • If you don’t want to rent your condo- then keep it all to yourself and enjoy the amenities and stress free ownership of a condo.  When you come to the valley, make it all about R&R- because you know the lawn is mowed, the driveway plowed, flowers watered, and the Valley is your playground.

*statistical data based on information from the Northern New England Real Estate Network, Inc. 1/1/13 through 6/30/13 and where indicated Year to Date for properties in the NH MLS in Carroll County

Lets work together and find your home- it’s more than just a dream, it’s your turn-

Kathy Prittie, 630-1399

Kathy@JtRealty.com

May 2013 Market Report – House Prices Go Down While Condos Jump Up

Tuesday, June 18th, 2013 By Emily

The weather is warming up and so is the market. Our just released year-to-date report for May continues to prove this to be true, and can be viewed here: May 2013 Statistics

For the Single Family Home market, the number of sales is up slightly by just over 2%, and new listings are status quo. Slow and steady wins the race right? The median sale price is exactly the same as this time last year, but the average sale price is down significantly from $279,632 to $222,262. The average days on market are about the same: 155 this time last year and 159 this year. Seems like a correction in the market is taking place after rising prices last year, or maybe the lower priced homes are selling?

Condo sales are still looking really great. While there is more inventory this year (up 21% since this time last year) sold listings skyrocketed this month, increasing by a whopping 50%. Sales volume has almost doubled compared to this time last year. The median sale price is up 27% and the average sale price is also up, from $141,174 this time last year to $183,997. Either prices are starting to rise, or higher priced units are selling, good news either way. But while condos are selling for more money, keep in mind that condo prices went down significantly last year, so we are just playing catch up. Plus, it is taking a month longer to sell a condo these days: 159 days now compared to 134 at this time last year.

The end of June marks the start of our busy selling season, so the time is right to price competitively and wait for the offers to roll in. If you’d like an updated Market Analysis on your property, just ask.

Happy Summer and Happy Birthday to me!

Your Realtor,

Joy

JtReport: Condo Sales Are Looking AWESOME!

Tuesday, May 21st, 2013 By Emily

In the economic outlook, housing remains a bright spot thanks to low mortgage rates, optimistic consumer sentiment and recovering job markets. Our just released year-to-date report for April continues to prove this to be true, and it can be viewed here: April 2013 Sales Stats.

For the Single Family Home market, the number of sales is down slightly again this month, by 4%, but new listings are down by a bigger number — 8%, which is good news since that means the inventory continues to balance out. The median sale price is up by 2% this month, although the average sale price is down, from $284,513 last year to $217,592 this year. However, when compared to last month, the average sale price is UP by over $10,500! The average days on market is shorter this month, from 169 this time last year to 151 this year, almost three weeks quicker.

Condo sales are looking up. While there is more inventory this year (up 17% since this time last year) sold listings have skyrocketed, increasing by a whopping 57%. Sales volume has almost doubled compared to this time last year. The median sale price is up 21% and the average sale price is also up, from $138,250 this time last year to $174,853. Either prices are starting to rise, or higher priced units are selling, good news either way. But while condos are selling for more money, it is taking longer: 171 days on market compared to 130 at this time last year.

We are ready for what we hope to be a bombshell summer! If you’d like a Market Analysis on your property, just ask.

Your Realtor,

Joy

March 2013 JtReport

Friday, April 26th, 2013 By Emily

Plum Blossoms on BranchDear Clients & Friends,

Spring has definitely sprung up here in the Valley, and we are gearing up for what may be the best summer in years! Let’s take a look at our year-to-date report for March, which can be viewed in full here: March2013 Stats. For the Residential market, number of sales is down slightly but new listings are down by a bigger number — 13%, which is good news since that means the inventory continues to balance out. The median sale price is down 10% and if you do the math you’ll see that the average sale price is also down, from $246,968 last year to $207,086 this year, a 16% decrease. The average days on market is WAY down, from 191 this time last year to 152 this year, over a month quicker.

The outlook is starting to look better for condo sales. While there is more inventory this year (up 17% since this time last year) sold listings also saw an increase, by a big 28%. The median sale price is up 19% and if you do the math the average sale price is also up, from $141,940 this time last year to $168,889! So while condos are selling and for more money, they are happening a little slower, 177 days on market compared to 119 at this time last year.

Our busy season will be kicking off soon, are you ready to get your home on the market? If you’d like a Market Analysis on your property, just ask, or fill out our online CMA form.

Happy Spring!

Your Realtor,

Joy

JtReport: January Statistics Show Continued Improvement

Thursday, February 28th, 2013 By Emily

Just released is our January 2013 Market Report for Carroll County and it can be viewed here: January 2013 YTD stats. Residential sales are still looking good! Number of sales are up 19% (great!) but new listings are up 30% (not good), compared to this time last year. So it’s a slight buyer’s market, but still pretty balanced. The median sale price is up 2.5% and if you do the math you’ll see that the average sale price is slightly lower than this time last year: it was $184,500 at the end of January 2012 and is $182,268 now, a temporary correction, I hope.

House and Keys in Female HandsThe Condo market continued to see stabilization in January. New listings are the same compared to this time last year, and sold listings are up 10%, which means we are using up condo inventory! The median sale price is up 29% and if you look at the average sale price, it went from $106,930 at this time in 2012 to $134,000 now, which is great news. The lower priced condos have sold and now the higher end units are selling, resulting in a higher average price. In not so great condo news, the average days on market went way up compared to this time last year, from 121 in 2012, to 265 in 2013. Since we have consistently seen the days on market going down in the past few months, I think that it’s safe to say that the number could be from the sale of a few condos that had been on the market for a very long time, which might not paint the most accurate picture of the market as a whole.

Make sure your listing has what it takes to stand out from the rest of the inventory. Mortgage rates are still low, but predicted to rise significantly in the next few years and it is still a great time to buy. We’ve rounded the housing market corner and are in this great time where buyers aren’t as scared to make a move and mortgage rates haven’t bounced back from their all-time lows. This is still a price driven market, so be sure you’re positioned competitively. If you’d like an updated Market Analysis on your property, just ask, or fill out an online CMA.

Your Realtor,

Joy

November 2012 JtReport – Exciting news in Carroll County

Friday, December 21st, 2012 By Emily

Just released is our YTD November 2012 Market Report for Carroll County and can be viewed here: November 2012 Stats. Residential sales are still looking really good! Sales are up just about 18% again this month which means we’re still using up the extensive inventory, as new listings are only up 1%. In fact, inventory is even getting a little low, which is good news since demand is high because of low mortgage rates, but now buyers don’t have as many options as they did a few months ago. The median sale price is down a little bit (1%) yet if you do the math you’ll see that the average sale price has gone way up since this time last year, $305,220 this year compared to $280,568 last year!salesup

Finally, some HUGE news in the condo market, sold listings are up 25% compared to this time in 2011! And new listings are only up 3%, which means we are using up condo inventory too! Condo sales are still happening quicker this year  — 155 days on market compared to 174 last year at this time. Unfortunately the average sale went down again, by 22%. While that news isn’t so great, when you look at the same month last year, November 2011 only saw 12 Carroll County condo sales, but November 2012 DOUBLED that number and had 24 sales.

Make sure your listing has what it takes to stand out from the rest of the inventory. This is still a price driven market, so be sure you’re positioned competitively. If you’d like an updated Market Analysis on your property, just ask, or fill out the online CMA form.

Your Realtor,

Joy

What’s Really Happening in the Mount Washington Valley Real Estate Market

Friday, May 7th, 2010 By Joy Tarbell

Pink and purple azaleas and yellow forsythia are blooming beautifully and vibrantly, and the leaves are that intense bright green that only appears right when they first pop out. Yes, Spring is here early and it is gorgeous. The good news is that the real estate market is also starting to look a little brighter.  Check out the statistics comparing the Mount Washington Valley year-to-date with the same time last year. *

2009 2010 % Change
# Sold Listings 106 121 +14%
Sold Volume $18,267,151 $22,637,121 +24%
Avg Sale Price $172,332 $187,084 +9%
Avg Days on Mkt 165 205 +24%

The first half of 2009 was one of the worst times in our real estate market in 20 years, so we do need to take these numbers with a little bit of salt. I personally sold over 3 times as much real estate in the 2nd half of 2009 than the 1st half. That being said, things are really moving in a positive direction. Sales numbers are up, sales volume is up, prices are even up!  The only number moving in a negative direction is the days on market, showing properties taking longer to sell.

One thing to keep in mind before we get too giddy about these numbers is that the First Time Homebuyer Tax Credit ended on April 30th. This tax credit had really been a driving force in our market. According to the National Association of Realtors (NAR), first time homebuyers made up 47% of all transactions in 2009, and the average sale price for a  first time homebuyer was $156,000 nationwide.**  To qualify for the tax credit, these buyers had to put a home under contract by 4/30/10 and close by 6/30/10. In July we will begin to see what direction the real estate market is heading without government subsidies.

We will continue to closely monitor the real estate activity in order to ensure that you remain informed on current market conditions.

Joy

* Based on information from NNEREN for the periods 1/1/09-5/1/09 and 1/1/10-5/1/10 for the towns of Albany, Bartlett, Chatham, Conway, Eaton, Hales Location, Harts Location, Jackson, and Madison.

**http://www.realtor.org/press_room/news_releases/2009/11/survey_record

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