Windham, NH Home Sales Report – 1st Quarter 2009
April 9th, 2009by Bill Spinelli
In the first quarter of 2009 there were 22 residential sales in Windham. The Average Sale Price was $399,500, approximately a 6% decrease in sell pricing from the comparable quarter in 2008. Sell Price to List Price comparison was at 95.9% indicating (overall) realistic pricing by sellers. An “Average Home” was analyzed as being 2,830 square feet of finished space translating to $141.00 per square foot selling price. Similar to last year, the average DOM was 161.
2008’s first quarter resulted in 18 homes sold in Windham at an average price of $423,000. The Sell Price to List Price was at 96.4% – again indicating realistic pricing. The “Average Home” at 2,878 square feet thus sold at $147.00 per square foot Selling Price . The average DOM was 167.
The Windham NH Housing Market – Looking Ahead
Second Quarter activity last year in Windham was quite robust- we hardy New Englanders – almost everyone seems to come out of hibernation simultaneously. There were 47 closings in the Second quarter of 2008 at an average price of $467,000. The Sell Price to List Price was at 95.7%. The “Average Home” at 3,040 square feet therefore sold at $153.50 per square foot Selling Price!!! ( See below for interpretive discussion on “averages” ) The average DOM was 128 – a significantly shorter selling time frame. It will be exciting to see how the Second Quarter of 2009 performs to 2008. There are currently 123 active listings in Windham – which is within a fairly consistent range over the above timeframes. Based on First Quarter results, it will be interesting to see if the upward sales trend continues !!
FOOTNOTES ON “AVERAGES”, COMPETITIVE MARKET ANALYSIS (CMA) and INTANGIBLES. Averages are a “tool” to be used very carefully. Useful to the extent of generating a starting point with a justifiable basis – “averages” nicely succeed in this goal. As we all know however – nobody really wants to be considered “average” – and most Sellers seldom view their home as being “average”. CMA’s remain the true analytical “lifeblood” for our clients. It is here that we can hone down on comparative reality through discussing home styles, lot sizes and numerous possible amenity characteristics to further augment our recommended pricing ranges. From the intangible standpoint, as professionals, we must also continually be genuine and succeed at holding our client’s interests first in priority.
Real estate is primarily about location. In my estimation – Windham has one of the best in all of New Hampshire. Close to Nashua with outstanding access to Route 93 has enabled Windham to evolve as a “bedroom community” for those seeking proximity to work as well as cultural and recreation centers throughout NH and Massachusetts. The larger lot sizes and more rural character of Windham are appealing and the education system often cements the sale.
All pricing and statistical information based on the information from the Northern New England Real Estate Network, Inc. during respective timeframes discussed above.
Contributed by Bill Spinelli, Associate Broker, Bean Group
