Hollis Spring Real Estate Market Blooms With Four Pending Sales Reported In March
April 23rd, 2009by Cynthia Coughlin
Buyer activity has definitely increased over the past month. Besides the usual busy spring market, positive housing news has provided a more optimistic outlook that influences buyers’ attitudes. There were four pending home sales reported in Hollis last month – it is notable that they were on the market an average of just 21 days.
Home sales in Hollis have remained steady throughout the market downturn. Real estate values in this small rural town on the Massachusetts border benefit from the laws of supply and demand. The supply of available housing is small compared to many other southern New Hampshire towns, in part because of the abundance of farmland and conservation lands. Conversely, buyer demand is always high because of its convenient location, scenic beauty and highly regarded school system.
Currently, there are 61 single family homes for sale in Hollis. Home prices range from low $200,000 range to over $2,000,000. Average sale price for the 12 month period from March 2008-2009 was $461,913; median home price was $435,350. The average number of days on market for sold properties was 153 days. This number is not necessarily a valid indicator of a slow market. Many factors can influence how long a home stays on the market including overpricing (my home is worth what?) and new construction which takes longer to complete.
Available land is also at a premium. The prices of single building lots for sale range from $195,000 to $529,000. Larger lots, some with potential for subdivision are priced up to $3,250,000. Only 2 lots sold last year with an average/median price of $620,000.
One thing that has not changed is the fact a competitively priced home sells quickly – in some cases with multiple offers.
Based on information from the Northern New England Real Estate Network, Inc. for the period March 1, 2008 to April 22, 2009.
Contributed by Cynthia Coughlin, Associate Broker, Bean Group
