New London, NH

Staying ever so consistent, New London had 6 home sales in the month of October ranging form $150,000 to $1,891,000.  This month’s median sales price fell higher than last month’s $290,000.  October’s median was $395,000.

New London Home Sales:

15 Scythe Shop Road – $150,000

76 Farwell Lane – $245,000

742 Pleasant Street – $395,000

75 Parkside  – $395,000

16 Wallula Road – $500.000

188 and 189 Hastings Landing Road – $1,891,000

The length of time these properties remained on the market before selling averaged 268 days.

As with most many of us in the winter, we have a tendency to take a small sabbatical, allowing ourselves to rest and freshen up.  Perhaps that’s what sellers had in mind when many of them chose to shed their “For Sale” signs.   Unlike in Summer and early fall months where there were close to 100 homes for sale, there were only 68 on the market as of early November.  Rest assured, these and new anxious sellers will return, and it would not be at all surprising to see many of them returning far before the early thaw.  With a new and improved tax credit extension that includes existing home buyers and increases income limits, sellers and buyers will not want to miss an opportunity.  Contracts have to be locked in by April30, 2010 with sales completed by June 30th.

So if you are a seller still in the playing field or a buyer still exploring the opportunity of moving, consider that the median asking price for homes currently on the market is $467,000.  Many of the homes have sat for an average of 191 days.  Rest assured, this new tax credit, might give both buyers and sellers the “shot in the arm” they are looking for.

Based on information from the Northern New England Real Estate Network, Inc for Month of October 2009.

Contributed by Bethany L. Brenner, GRI, SRES, Realtor, Notary Public

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Spring comes, then the Summer residents, and then before you know it, the foliage is turning , and visitors are flocking out of our area – sellers may wonder where those “perfect selling time moments” went.

Any of us looking for a slam dunk this summer or even this fall, may have been disappointed, however the glass is not necessarily half-empty.  On the bright side, activity has held rather steady between 5 and 6 sales over the last three months.  Yes, we’d like to see more and who wouldn’t want to see the luxury homes sell?  After all, this picturesque town of New London has those to show as well, but for now sales are in the territory of buyers looking below the $300,000 mark.  Yes, that’s correct!  The median sales price for the properties that closed in September, ranging between $210,000 and $434,000 was $290,000.

Also staying steady are the 87 properties for sale in September with 17 of them under contract.    This is the point in time where we cross our fingers until we get to close!

The median list price for those presently on the market is $438,000.

The following properties sold in New London during the month of September:

268 County Road  ($210,000)
295 Andover Road  ($245,000)
46 Wallula ($275,000)
37 Job Seamans Acres ($305,000)
645 County Road ($306,000)
1038 Main Street ($434,000)

Based on information from the Northern New England Real Estate Network, Inc for Month of September 2009.

Contributed by Bethany L. Brenner, GRI, SRES, Realtor, Notary Public

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Wishing for a far more substantial number of sales, only five homes sold in the month of August in New London. On a positive note, this is only one less sale than in July, and two more than the 3 home sales in June. Spreading between $235,000 and $1,550,000, the median price of the five sales was $319,000. This number continues a steady downward trend of falling prices over the last three months. Between June and July the decrease was a marginal 1%, but from July to August, a 10% decrease was seen.

The following homes sold in New London:

70 Parkside: $235,000
202 Squires Lane: $280,000
53 Deacon Hill: $319,000
173 Seamans Road: $442,500
242 Poor Road: $1,550,000

The average number of days a home stayed on the market has fluctuated a great deal over the last three months. For the month of August, the average number of days was 245. This number is up 38% from July.

In a “perfect” market, we would hope for a shorter number of days on the market (quicker sales) and an increase in median sold prices (indications of home values increasing). However, as with any cyclical market, as buyers and seller, we take the good with the bad and appreciate even the smallest signs of hope, hence an 8% decrease in the number of homes for sale gives us hope.

The number of homes currently for sale in New London on September 1st was 87 with 13 of those under agreement. The median list price of those properties is $429,000 and they have been on the market for 151 days.

Contributed by Bethany L. Brenner, GRI, SRES, Realtor, Notary Public

Based on information from the Northern New England Real Estate Network, Inc for Month of August 2009.

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July not only brings sunshine, but increased home sales and other favorable stats to the New London real estate market.

There were 6 home sales this month compared to three in June, and on top of that good news,  the average length of time those properties remained on the market was 45% shorter
than last month; 177 days in July.

Despite having higher priced properties on the market, over  50% of those that continue to sell are below the $400,000 mark.  Similar to June, July saw home sales fall to a median price of $355,000, a $5,000 decrease over last month.   The following properties sold in July.

46 Burpee Hill Road – $130,000
59 Carter Road – $278,900
153 Tracy Road – $315,000
284 Old Main Street – $395,000
72 Wilder Lane – $417,500
750 Little Sunapee Road – $540,000

Buyers and sellers still fall within the 10% sale to list ratio. Essentially, buyers paid on average 92% of what home sales were listed for.

At the writing of this report, there were 95 homes for sale in New London and 16 of them were under contract.  Of those 95 homes for sale, the median list price remains at $429,000 and they have been on
the market, on average for 149 days.

Based on information from the Northern New England Real Estate Network, Inc for Month of July  2009.

Contributed by Bethany L. Brenner, GRI, SRES, Realtor, Notary Public

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