NH Homes and Condominiums Market Report - Hillsborough County - 2009 - 2Q
Activity during the second quarter of the year in New Hampshire is an accurate representation of current market conditions. The properties closing in April, May and June represent transactions placed under contract during the spring market which is our most active during the year. The combination of snow melt, cabin fever, school closing, spring landscaping and pent-up demand all are contributing factors.
The number of homes sold stabilized as compared to 2008 as did the days on market. However, there was a substantial drop in the average sales price due to the activity at the lower end of the market. First-time home buyers are motivated by the $8000 tax credits, favorable interest rates and the affordability of property.
Units sold mirrored the single family market with transactions nearly the same as 2008. The average sales price declined from $189,621 to $172,565 continuing the trend from 2006. The foreclosure market and the availability of financing are two limiting factors in the condo market.
New Hampshire Homebuying Guide and New Hampshire Market Report -2009 (statewide) are valuable resources for evaluating the real estate market. Visit Virtual Homes Real Estate for all your real estate needs.