Hanover NH Real Estate – 4th Quarter and Year End Residential Stats
The Hanover NH real estate market continues to be challenged by current economic factors. That said there does seem to be a light at the end of the real estate tunnel. The following information was taken from the Multiple Listing Service.
In the 4th quarter the number of single family homes sold was down 14%from the 4th quarter of ‘08 (21 in ’08 – 18 in ’09). The good news is that the average selling price of homes was up 13% in the 4th quarter ($544,799 in’08 – $635,668 in ‘09). Average days on market in the 4th quarter shot up to a whooping 162 in ‘09 from 91 in ‘08.
Year end numbers look a bit different……… sales of single family homes for the year was down 17% from ‘08 (115 in ‘08 – 95 in ‘09). Average selling price was also down 17% from ‘08 ( $618,133 in ‘08 – $514,883 in ‘09)
Average days on market for ‘o9 was 155 and in ‘08 124.
One of the statistics which stands out most in the Hanover housing market is that the number of homes sold over $500,000 is down substantially (23 in ‘09 – 35 in ‘08) – in which the $500K to 1M group took the biggest hit ( 19 in ‘09 – 30 in ‘08).
More on condo sales in Hanover to come!
Carol & Matt
