Sales Up, Leaves Down

Activity in the Lakes Region real estate market seems to have picked up a little as we move into colder weather. Maybe the brisk weather has invigorated the buyers? September was a really great month with a 36% increase in the number of residential home sales over last September for those communities listed. There were 91 homes sold in our area last month at an average price of $263,411. Over half of the sales (56%) were under the $200,000 mark showing that there are still plenty of bank owned and starter homes changing hands.

Last September there were only 67 sales for the month, but the average was a little higher at $292,896. Home inventory levels still remain extremely high and it seems like more and more listings are coming on the market every day. An increase in the number of sales may be the only way to whittle the numbers down some.

On a rolling 12 month basis for the period ending 9/30/2010 there have been 796 homes sold at an average price of $308,440. The median sales price for this period came in at $192,000 and the average time on the market was 146 days. For the 12 month period ending 9/30/2009 there were just 673 sales at an average price of $285,644. The median sale price came in at $185,000 with an average time on market of 139 days. This equates to a substantial 18% increase in the total number sales over the past year and an 8% increase in the average sales price which I think, ever so cautiously, is fantastic news!

The autumn foliage season has brought thousands of visitors to the Lakes Region over the past several weeks. They are out driving around looking at the scenery, visiting shops, eating in our local restaurants, and just absorbing (and enjoying) our local lifestyle. NH continues to shine as a great place for people to visit no matter what the season is. The foliage season really makes an impact on visitors from other parts of the country with the awe inspiring beauty of our lakes and colorful mountains. Many visitors return year after year with some deciding to stay permanently. The only downside to foliage season (if there really is one at all) is that sometimes with all the people here traffic can get a little bad, especially on I-93 South on a Sunday afternoon when you suddenly come to a standstill. It feels like you just got out of a NASCAR race or a Pat’s game. You can also get stuck behind a mile long line of cars on a back road because of leaf peepers looking out the windows of their car at the views instead of where they are going. That shouldn’t bother you though, remember, we are supposed to be on a slower pace here anyway. And if your house happens to be for sale, don’t honk. Some of those leaf peepers could be home buyers….