New Hampshire Towns Report Cool Housing Market
by Blanche Evans
Realtors in New Hampshire's charming roadside towns report that the housing market is cooling with higher end homes flat and longer selling periods for homes in general. Londonderry "Londonderry is a residential community of around 23,000 people with apple orchards, an historical center and a commercial area," says Realtor Chip Sutton. "It's a convenient location near Rt. 93, Mall of New Hampshire and Manchester Airport. 45 minute from Boston, 30 minutes from coast, 45 minutes to the Lakes Region and White Mountains." About the market, Sutton surmises, "The market in Londonderry is in a transition time. School has started and most families who had to move before school have done so and are settling in. The result is unsold homes are sitting on the market a little longer and prices are having to be lowered to attract buyers. Fewer buyers are in the market now even though interest rates are low. This is typical for September. We are seeing more open houses which means the market has slowed. Higher-priced homes (above $350,000) are sitting longer on the market. Well-priced homes (under $300,000) are selling a little quicker. With low interest rates this is getting to be a good time for buyers as the remaining inventory represents motivated sellers." New Castle Says Realtor Chris Larkin, "New Castle, known as "The Great Island", is the smallest town in New Hampshire. It covers a mere .8 acre and is one of the most charming and scenic towns around. It is just off the coast of Portsmouth. Portsmouth and the surrounding seacoast region continues to enjoy a popularity which is well-earned. This lovely historic city offers a small town feel with some big city amenities and is the hub of the surrounding area. Using the period April 1 - October 11, the median price of a single-family home in New Castle decreased from $850,000 in 2003 to $720,000 in 2004. As of October 8, 2004 there are 15 single-family properties currently on the market in New Castle." Hooksett "Hooksett seems to be at a cross-roads in its growth and development," observes Realtor Mark Allen, "... especially on the east side of the river ... since the town has clearly outgrown its roads, and traffic is becoming a serious issue. It remains to be seen if this can be resolved or if it will continue to worsen." Allen advises, "Except in the entry-level price range, the housing market in Hooksett is showing slight signs of softening. It is still not a buyer's market by any means, but we are no longer seeing multiple offers and bidding wars except in rare cases. Appreciation has slowed, and prices are leveling off -- but prices have not gone down in any market segment. The higher market segments are flat, while the lower ones are only very slowly appreciating. The price differential between "high-end" and "mid-range" seems to be slowly narrowing." |
