The Real Estate Market in Hooksett is showing steady improvement. There were 33 homes sold in the Third Quarter of 2009 with an average sale price of $248,742 and a median of $257,000. Average time on market was 107 days and Sellers got about 97% of their asking price.
To compare, in the Third Quarter of 2008, the average sale price was $272,428 with a median of $265,500. Average time on market was 143 days and percentage of asking price was the same at 97%. Sale prices were down about 9% in the Third Quarter of 2009 compared to Third Quarter, 2008.
In the First Quarter of 2009 there were 14 sales reported with an average sale price of $215,500 and a median of $192,450. Average time on market was 99 days.
The Second Quarter, 2009 there were 27 sales reported with an average sale price of $250,879 and a median of $250,000. Average time on market was 121 days.
The Hooksett real estate market is showing small but steady improvement since the beginning of the year. Percentage of asking price is very good at 97% and time on market on average at under 110 days is very reasonable.
As of this post there were 111 homes available for sale in Hooksett which represents about a years supply of homes. This is the absorption rate.
It is generally considered that “Normal Market” conditions exist when the Absorption Rate is between 5 and 6 months. “Buyers Market” conditions exist when the Absorption Rate is higher. (7+ months) and “Sellers Market” conditions exist when the Absorption Rate is lower. (1-4 months).
Contributed by Susan Crush, Associate Broker, REALTOR, Bean Group
Based on information from the Northern New England Real Estate Network, Inc. for the period January 1, 2009 to September 30, 2009 and July 1, 2008 to September 30, 2008.
