Nashua New Hampshire Real Estate - 2009 Third Quarter Market Report

Nashua New Hampshire Real Estate - 2009 Third Quarter Market Report

Third quarter reports represent transactions that occur during the summer months which is typically a slower seasonal market. The spring and fall markets are the most active in southern New Hampshire. In general, the Nashua residential real estate market is similar to past years however the average selling prices continue to fall.
Single Family Homes

There were 161 closed listings in 2009 as compared to 160 in 2008 and 157 in 2007. The average sales price dropped from $262,701 in 2008 to $251,924 in 2009. The average days on market dropped substantially from 99 days to 79 days for sold transactions. This is due to the high percentage of entry level home sales dominating the market. First-time home buyers are taking advantage of the $8000 tax credit and are purchasing homes since they are more affordable. The average listing price for single family homes declined slightly in 2009 as compared to 2008 from $297,116 to $289,222.

There were 260 homes listed during this time period and 255 active listings as of September 30, 2009. The average listing price at that time was $324,341 with the average days on market being 153 days.