2012 Windham NH Real Estate Market in Review

WINDHAM NH SINGLE FAMILY HOME SALES

      The past year saw a very active market for single family homes, return to Windham. In fact, 2012 saw 192 single family home sales, a pace not seen since 2005, when 203 single family homes were sold.  The average sales price increased a meager .63% in 2012 over 2011. The median sales price in Windham actually declined in 2012 to $377,500 compared to the previous year's median price of $385,000 which is a 1.94% decline.

As has been stated here, many times before, statistics don't always tell the whole story, about whether prices are actually rising or falling, in a particular area. The median and average sales prices are affected by the number of homes being sold in the various price ranges. This is illustrated well in the home sale by price range chart shown below. You can see that the number of sales went up significantly in the $1-$159,999 range, in the $200,000-$299,999 range, and the $300,000- $399,999 range, which would have had a large impact on both the average and median sales price for Windham.   The number of homes sold over a million dollars actually increased. This is where the opinion of a real estate professional, can be critical in helping you to establish a pricing strategy, by comparing homes with similar features and benefits as your own.

As 2012 came to an end, there was a very limited inventory available for sale with a large number of active buyers looking for homes. There were just 103 single family homes available for sale on January 1, 2013. Of that number, just 60 were resale homes that are currently for sale. Our office is working with a number or buyer, both relocating buyers from out of state and local buyers who are actively in the market looking for homes. Our company is going into the first part of 2013 with one of our strongest pending sales volumes in many years.  Now that the "fiscal cliff" has been adverted there should be a more positive outlook in the general economy as well. Windham NH remains a popular town with buyers, because of the combination of affordable upscale homes compared to northern Massachusetts, easy access to greater Boston area, and the school system with new high school.  The coming year should be a good one with the one possible downside being the lack of inventory, which may impact the number of sales.

AVERAGE SALES PRICE AND NUMBER OF SINGLE FAMILY SALES BY YEAR

NUMBER OF WINDHAM NH HOMES SALES BY PRICE RANGE

WINDHAM NH CONDOMINIUM MARKET

     The number of condominiums sold in Windham remained stable, with 42 sold in 2012, compared to the 41 that were sold in 2011. The average sales price declined from $275,590 in 2011 to $271,416 in 2012. However, the median selling price increased from $260,000 in 2011 to $274,225 in 2012. Remember that median price means the mid-point, 50% of the homes sold for more and 50% sold for less, while average price, adds all of the sales prices, which are then divided by the number of sales.

In our observation of the 2012, Windham condominium market, we saw a large number of our customers looking to downsize, who wanted to remain in Windham, and many of whom were looking to purchase a new home. We also saw higher sales prices, on our sold listings, in popular condominium communities in Windham. With three, large, new condominium projects nearing completion in Windham, a lack of inventory may affect the market in Windham during the coming year. There are just 19 condominiums available for sale as of January 1, 2013.

 This information is based in whole or in part on data supplied by the Multiple Listing Service of the Granite State South Board of REALTORS, Inc. Neither the board or its M.L.S. guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its M.L.S. may not reflect all activity in the market.