If only we had a crystal ball last January to predict what the year would be like. There are so many words to describe 2020 – unprecedented, challenging, surreal. It’s the year we lived our lives online. But amazingly, the housing market gained strength after hitting pause in March & April and 2020 became a record-breaking year in residential sales. The demand for housing was driven by low mortgage rates, millennials reaching prime home-buying age, changes in housing needs, and the ability to work remotely.
Nationwide, the median selling price (through11/2020) was up 14.6% from 2019 to $310,800. In NH, the median selling price for 2020 was up 11.7% to $335,000. The average days on market was 47 days and homes basically sold for their list price. Despite the fact there had never been that many homes for sale at one time, the volume of sales was up 4.6% statewide. In New London, Newbury & Sunapee combined, sales were up from a total of 218 solds in 2019 to 238 homes sold in 2020 with a median selling price of $429,500 (compared to $378,750 in 2019). The housing market is expected to shine in 2021 and continue to have a positive impact on our economy. If you are wondering if now is a good time to buy or sell, feel free to contact me for a no pressure conversation on what the best plan of action is for you. Donna@DonnaForest.com; 603-526-4116 (O); 603-731-5151 (C).
Check out this fabulous, tastefully renovated North Peak Condo. It's just minutes from Mount Sunapee, the State Park Beach in Newbury, and all the great outdoor activities in the Sunapee Kearsarge Region. Ready to go - move right in with no projects to tackle!
This charming condo features multi level living, with 3 bedrooms, 2 gorgeous tiled baths, maple floors, new appliances, and a very private wrap around deck to enjoy the outdoors.
Cool down with air conditioning on sticky summer nights, and chase away the winter chill with a gas fireplace. Descending to the lower level, the newly carpeted recreation room provides many options. Right out the front door is a short walk to the community pool or nearby tennis courts. Enjoy the convenience of trash removal and on-site mail delivery, as well as the low Newbury taxes. What are you waiting for? Your Carefree NH Escape is calling you!
When I’m asked how the market is these days, my typical response is “we need more houses to sell!” As of 12/15, for example, there were only 6 homes for sale in New London and 6 in Sunapee. There are fewer homes for sale in the U.S. today than ever recorded in data going back nearly 40 years. Lawrence Yun, chief economist at the National Association of Realtors, stated that we are simply facing a major housing shortage. The lack of homes to sell has pushed prices up everywhere. The median selling price through November in New Hampshire is $334,000, up 11.3% compared to 2019. It's basic economics — a lack of supply pushes up prices, whether you're talking about toilet paper or houses. Sellers will continue to reap the benefits as prices are predicted to increase around 5.7% for 2021.
Why the shortage? Homeowners are staying longer in their homes (13 years on average). Also, after the 2008 housing crash, many smaller builders went out of business. Those small companies built a lot of homes. Most recently, the price of materials more than doubled during the pandemic (though prices have been dropping) and wildfires in the western US caused supply shortages. "Builders cite a lack of lots and decreased availability of building materials as headwinds that will limit production," says Robert Dietz, chief economist for the National Association of Home Builders. Bottom line, if you’re thinking of selling, no need to wait for spring. Buyer demand is still strong!
Contact me to list your home today: 603-526-4116; www.DonnaForest.com; Donna @DonnaForest.com
Are you dreaming ... of leaving city life behind? Of working from home and bringing in additional income?
Well then, don't miss this opportunity! This incredible, meticulously updated property, situated in the heart of the Sunapee Region, offers many possibilities: live in the attached apartment and "Air BnB" the main house OR operate as a charming bed & breakfast for destination weddings and skiers at nearby Mt. Sunapee OR live in the mainhouse and rent out the in-law apartment (currently $2,500/month in rental income!). You are only limited by your dreams. This home as it all! Make your dreams a reality with this unique property. Come experience for yourself what it means to "love where you live"!
Click here for more information.
Anne Marie Appel, Listing Agent, 603-526-4116
How would you like to live in a cozy, low-maintenance condo unit, tucked away in a private tranquil neighborhood, yet less than 5 minutes from the buzzing town center of New London? If so, look no farther than this special opportunity at Hilltop Place Condo Association. This one-bedroom, one-bath unit is very comfortable and roomy. Separate living and dining rooms, kitchen, bedroom, and bath can all be found on one level. Side sliders open to a sunny open field between units. Decent storage. Detached one car garage with opener. Visit www.newlondonnhcondo.com to learn more!
Marilyn Kidder, Listing Broker, 603-526-4116
Typically, as we slide into our fall season of apple picking and pumpkins on the porch, the real estate market starts to slow down. Usually there are fewer buyers out looking and not as many homes for sale. But as we all know, this year is anything but normal! Homes are still selling quickly and values continue to rise. Data from the Mortgage Bankers Association showed loan applications were up more than 30% year over year and they expect buyer demand to continue into 2021. In the words of Lawrence Yun, National Association of Realtors' chief economist, “this market momentum is very solid.” He also stated "home sales continue to amaze, and there are plenty of buyers in the pipeline ready to enter the market."
“With unusually high buyer interest this late in the home buying season, buyers are moving much faster than this time last year to beat out competition and lock in low mortgage rates. This means homes are sitting on the market for much less time, despite notably higher price tags,” the report’s author, Realtor.com economist Danielle Hale, wrote. “Campisi, Natalie The Fall Real Estate Market Is Abnormally Hot As Mortgage Rates Break Records” Forbes 9/11/20
Bottom line, it’s not too late to get your house on the market! Contact me if you want to know how to successfully sell your home this fall. 603-526-4116; www.DonnaForest.com; Donna @DonnaForest.com
If a classic clapboard Cape Cod on a tree-lined street is your image of home, then give this one a look! Nicely set back from Shaker Road with a beautiful view of Mt Kearsarge, this house is situated in the midst of New Hampshire splendor: 3.5 miles to charming New London town center, 4 miles from Kearsarge Regional High School and within 2 - 4 miles of two 18-hole golf courses. The terraced backyard abuts a 4 acre pond with plenty of trails in the Cascade Marsh Wildlife Preserve for year-round outdoor activities. A wonderful house with a first floor master bedroom and an upstairs with 2-3 bedrooms off a loft/den area, along with a hobby room that can be multi-purposed. Other features include wood floors in the dining and living room, a wood-burning fireplace, a delightful screened porch to enjoy summer evenings, an attached 2-car garage, stand-by generator, and a brand new roof! Come check out this spacious house at a price you can afford! Call for details.
Donna Forest, Listing Broker, 603-526-4116
This wonderful roomy farmhouse with rich local history is conveniently located near the village of Grantham, close to Rte. 89, and a short distance to Lebanon/Hanover to the north and New London/Sunapee to the south. Once part of an over 500-acre working farm, this 4br/2ba home sits along a beautiful stretch of Stocker Brook. The 3.2 acre mostly-level property features perennial gardens, shrubs, trees, and an open pasture area suitable for livestock or horses. The attached outer buildings were once used as an ice house and farm storage, later as horse stalls and snowmobile storage (with drive out and direct access to miles of trails maintained by the local snowmobile club). Other features: FHA Propane heat (new 2016), 4-bedroom septic (new 2020), double pane windows with screens, a standing seam roof, and a great screened porch in shade of an old maple tree. Excellent opportunity for someone who would enjoy its history and charm and undertake some 21st Century updates. Offered at $229,000.
Marilyn Kidder, Listing Broker, 603-526-4116
The real estate market continues to see low inventory and high buyer demand which means it is still a sellers’ market. In July, the state was reporting historically low inventory – half as much for sale this year compared to last year in July (which was also historically low). Buyers realize the importance of home ownership as evidenced by the Mortgage Bankers Association Aug.12 report which shows a 22% increase in mortgage home purchase applications over last year.
NH market data reveals the state had the highest July median sales price ever for that month at $340k. Year to date (thru July) the median sales price in NH is up 7% at $320k compared to $299k last year with the days on market at 56 days and sellers receiving 98.9% of the list price. In the combined towns of Newbury, New London & Sunapee, the number of home sales is a little ahead of last year (thru July) – 115 sales this year/110 sales in 2019. The avg. days on market is 74 and sellers are receiving 96% of their asking price. Currently there are only 43 homes for sale in the 3 towns; 29 of which are priced over $400k. Now is the ideal time to be selling as we expect buyer activity to remain strong thru early fall. Contact me if you’d like to know the value of your home in today’s active market! 603-526-4116; www.DonnaForest.com; Donna @DonnaForest.com
On the eve of July 31st, 2020, the sun set on a record-breaking month for residential home sales in New Hampshire. NH REALTORS® reported 2,012 residential sales, the most in the state's recorded history for July---which even in slower years is a terrifically busy month for real estate transactions. The month's median selling price also coincided with New Hampshire's highest ever, at $340,000.
This recent summer boom comes on the heels of five consecutive months of declining sales in the New Hampshire residential housing market. Ever since January 2020, sale volumes had been falling...but July swiftly reversed that trend. Not only that, but it soared ahead to achieve a 6.4% increase over 2019's July sales. July 2020 ushered in a strong seller's market, with sales prices increasing by 22%, and pending sales increasing by 19%. At the same time, the market supply dwindled: homes for sale decreased by a staggering 54%.
July has come and gone, but this trend continues. We're now in the the final golden days of summer, in August, and "healthy buyer demand and constrained supply continue to be the story," reports NH REALTORS®. "A competitive market for buyers...is expected to continue into the late summer and early fall market."
Read more in-depth about this trend: https://www.nhar.org/assets/docs/NHAR_MMI_2020-07.pdf