Lakes Region of NH Real Estate Market Report - 9/12/08
Just Another Crisis
The residential inventory in the Lakes Region of NH continues to increase. As of the first of September there were 1347 homes available compared to 1313 last month in the twelve towns listed. This equates to 23 months worth of inventory on the market or almost 2 years worth of inventory! To put this in perspective, as of January 2006 we had about a 7 month supply of homes on the market, as of January 2007 we had about a 10 month supply, and as of September 2007 about a 16 month supply. So if you are wondering why it is taking your home a while to sell, this fact might shed a little light on it for you. There is a lot of competition in each price range. So if you want to sell in a reasonable time frame, price your property to be the best deal out there or it could still be for sale two years from now. While the glut of homes on the market is certainly not great news for people trying to sell, buyers should be taking advantage of this market. There are some really good deals to be had and interest rates have fallen to below 6% this week so it is the perfect time to buy.
We have a new, emerging crisis! One of the most iconic fixtures to be found on the American home is being pushed one more step toward extinction. While many of our younger generation have never laid eyes on these symbols of American prosperity and technology (and probably don’t care to), I have personally seen some children look at these roof top sculptures of art with awe and wonderment. “Look at that Daddy, what is that?” they exclaim. Yes, the beautiful roof top television antenna which provides free television reception is nearing extinction. As of February 17, 2009 all television broadcasts will switch form analog transmission to digital (whatever that means) rendering these works of roof top art useless unless a converter box is purchased. This could be a crisis of national proportion. What could be more stunning on a house than two, perhaps three, beautifully aged antennas pointed in several different directions? What could be more pleasing to the ears than the whir of the second most important invention in the history of mankind: the antenna rotor! So please help save this symbol of prosperity, our dedication to home entertainment, and our thirst for knowledge. Don’t discard your antenna if you have to begrudgingly come out of the 1950’s into the world of HD cable and satellites. Carefully take your antenna down. It is far too beautiful to leave on the roof anyway. Display it proudly inside your home. They fold up easily and take up much less space than the exercise equipment you currently hang your clothes on and the rotor function makes it unnecessary to reach for clothes way in the back! So stay tuned, we’ll be right back! (I always wanted to say that).
Residential Homes Available as of Sept. 1, 2008
| TOWN | TOTAL | < 100K | 100 to 200K | 200 to 300K | 300 to 400K | > 400K | AVG LIST PRICE | MEDIAN PRICE | AVG DOM |
|---|---|---|---|---|---|---|---|---|---|
| ALTON | 156 | 4 | 33 | 42 | 29 | 48 | $550,663 | $294,900 | 164 |
| BARNS | 113 | 4 | 42 | 44 | 19 | 4 | $238,112 | $224,900 | 165 |
| BELMONT | 106 | 10 | 36 | 33 | 16 | 11 | $249,112 | $232,450 | 141 |
| CENTER HARBOR | 19 | 0 | 4 | 3 | 1 | 11 | $726,494 | $449,900 | 120 |
| GILFORD | 183 | 3 | 23 | 37 | 31 | 89 | $759,278 | $399,000 | 183 |
| GILM. | 86 | 2 | 27 | 30 | 13 | 14 | $284,440 | $249,900 | 173 |
| LACONIA | 244 | 3 | 59 | 85 | 28 | 69 | $403,955 | $279,900 | 198 |
| MERE. | 147 | 4 | 14 | 26 | 36 | 67 | $689,314 | $379,900 | 186 |
| MLTN. | 163 | 5 | 14 | 38 | 26 | 80 | $902,781 | $385,000 | 202 |
| NEW HAMPTON | 36 | 0 | 6 | 15 | 6 | 9 | $333,057 | $282,450 | 134 |
| SANBTN. | 48 | 0 | 9 | 22 | 4 | 13 | $345,839 | $287,900 | 185 |
| TILTON | 46 | 4 | 15 | 12 | 8 | 7 | $265,913 | $251,950 | 191 |
| TOTALS | 1347 | 39 | 282 | 387 | 217 | 422 | $522,865 | $299,000 | 179 |
Report covers the towns of Aton, Barnstead, Belmont, Center Harbor, Gilford, Gilmanton, Laconia, Meredith, Moultonborough, New Hampton, Sanbornton, and Tilton
