The good news for 2014 was that home prices rose and the average days on market dropped. The median and average sale prices were higher in 2014 for many of the local towns and nationally, the median price will most likely be up 5.6% from 2013. Nationwide, with one month of data left to be tabulated, existing home sales are expected to finish down 3% from 2013. In this area, New London is the only town exceeding 2013 sales.
1/1 -12/31/14 43 Solds 153 Days on Market (DOM) $274,000 Median Sales Price
1/1-12/31/13 46 Solds 159 DOM $251,500 Median SP
New London –
1/1 -12/31/14 89 Solds 193 DOM $386,000 Median SP
1/1-12/31/13 69 Solds 208 DOM $350,000 Median SP
1/1 -12/31/14 56 Solds 201 DOM $317,650 Median SP
1/1-12/31/13 57 Solds 218 DOM $260,000 Median SP
With a strengthening economy, solid job gains, and a healthy increase in home prices, existing home sales are forecast to rise about 7% in 2015. Contact me if you would like to know the statistics for your town and how it impacts buying and selling in this market. Donna Forest, Broker Associate, 603-526-4116, www.donnaforest.com, firstname.lastname@example.org
Figures are based on information from the Northern New England Real Estate Network, Inc. for the period 1/1/13 thru 12/31/13 and 1/1/14 thru 12/31/14.
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