The Nashua, New Hampshire Q2 2010 real estate activity indicates that the housing market continues toshow signs of improvement but property values may have not seen a bottom.? Home and condominium unit sales increased and average sales prices increased for homes but declined for condos.? The strength of the Nashua NH real estate?market was in the entry level where first time homebuyers continued to take advantage of incentives of tax credits and low interest rates.?? In comparison to 2009 average sales prices both home and condo values were higher in this current time frame.? Visit the Nashua NH Q1 real estate report for further evaluation of market conditions.
Single Family Homes
The Nashua NH single family homes sold activity in Q2 2010 indicates a 6% increase in value and a 10% increase in homes sold.? [The average sales price was reported at $249,378 as compared to 2009 values of $235,140.|The 2010 values of $249,378 were up over the 2009 average prices of $235,140.} In 2007, the average sales price was reported at $288,616 or a value 14% higher than in 2010.? The affordability of declining prices and extremely low interest rates encouraged buyers to buy a home.? Average days on market improved from 100 days to 98 DOM reflecting that properly priced inventory is selling more quickly
The Q2 inventory was reported at 262 homes for sale at an average list price of $324,409 and a DOM of 168 days.?
Condominiums
The Nashua, New Hampshire condominium market in Q2 2010 reported an increase in sales and a decline in values from 2009.? Values slid 4% to $173,634 in 2010 from the $181,051 average value. The peak value in the past four years was obtained in 2007 with a value of $210,910.?
Second quarter activity for 2010 reports 168 units sold over 136 in 2009.? Foreclosures of condominiums and financing restrictions continue to have a major impact on this market segment.? Since the strength of the market has been in the entry level, low down payment options are necessary for buyers to qualify.? Many condo developments do not have FHA approval which restricts this option.? In addition, the affordability of single family homes has provided some buyers with better housing options.
Nashua active condo listings were reported at 148 units for sale at an average list price of $215,398 and days on market of 90.
Virtual Homes Real Estate compiled the Nashua NH report from the NH MLS (NNEREN).? The information is not guaranteed to be accurate.
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Source: http://www.lowerabexercisesathome.com/nashua-new-hampshire-real-estate-report-for-q2-2010
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