Windham, NH Home Sales Report – 2nd Quarter 2009
July 1st, 2009by Bill Spinelli
Don’t get Trapped by – “It’s the Same Old Song” Mentality
Ok – this information is substantially more accurate than reading generalized economic articles or watching the nightly news – but overall the story remains consistent. When in a recession – it is a Buyers Market. Perhaps the best in 75 years !!
However – for you (willing) Sellers & ( heroic) Developers out there – please also read up because this information is also meant to try to help you defend your pricing. REO’s ( bank-owned) and Short Sales make up the bulk of the “great deals” out there. Try not to get dragged into that “same old song” relative to your pricing. For you Buyers – make sure the Sellers are doing their homework and pricing realistically.
Windham in an Overview: Prices appear to be stabilizing in 2009 – but about 9% lower than last year. The number of homes on the market in Windham is increasing – 149 active listings versus 123 a year ago – up about 20%. The marketing time ( “Days on Market” (DOM) ) is nudging lower. A ray of sunshine ??
Second Quarter – 2009. In the Second Quarter there were 32 homes sold in Windham. The Median Closing Price was $410,000, approximately a 10% decrease in sell pricing from the comparable quarter in 2008. A “median” home in Windham statistically consisted of 2,864 square feet and sold for $410,000 – therefore $143.16 per square foot. The median time it took to sell a house was 91 days.
Second Quarter – 2008. There were 47 homes sold in Windham during the second quarter of last year. The median selling price was $451,000. During this quarter last year a “median” home statistically consisted of 2,905 square feet – so the average selling price per square foot was $155.24 . The median time it took to sell a house was 103 days.
LOOKING AHEAD. During the third quarter of 2008 – 42 homes were sold in Windham. At the current time there are 16 homes “pending” and 12 homes under “contingent” agreement in Windham. Based on these numbers – the possibility of having a strong third quarter for sales in Windham is in place.
Last years pricing (median sales price @ $463,250) and per square foot selling price ( $158.00) were better than the second quarter of 2008. It will be interesting to see if the same upward trending patterns holds true for the 3rd quarter of 2009 versus the 2nd quarter of 2009.
Based on information from the Northern New England Real Estate Network, Inc. for the period April 1, 2008 to June 30, 2009.
Contributed by : Bill Spinelli, Associate Broker, Bean Group
November 2nd, 2009 at 9:08 pm
[...] still a good Buyers market. Perhaps the most favorable in 75 years - BUT remember – “Don’t get Trapped by – “It’s the Same Old Song ” Mentality̶… ( my Windham blog from the second quarter 2009 ). Eventually – all pricing does [...]