Third quarter activity in the Manchester NH real estate market indicates that the values continue to decline with the average selling price being $205,731. Manchester foreclosures are a significant percentage of the 195 homes sold. All homes sold had a list-to-sell ratio of 98% and an average DOM of 85. The average sales price declined -8% as compared to the selling prices in 2008. On September 30, 2009 there were 256 active listings and 65 pending sales. The average list price for current listings was $260,294 and these homes were on the market for 123 days.
The affordability of single family homes, historically low intereste rates and the tax credit incentive ($8000)has generated the activity at the lower end of the market. Potential first time homebuyer can purchase homes with low downpayments through the FHA (Federal Housing Authority) and the USDA(United States Department of Agriculture).
The condominium activity showed that -11% fewer condos sold as compared to 2008 as did the average selling price. The days on market dropped sharply for condos sold from 161 to 109 days. Third quarter activity show 175 active listings and 31 pending sales that were on the market for 136 days. Information was obtained from the NH MLS(NNEREN) and is not guaranteed to be accurate. If you are looking for property in Manchester, NH visit Manchester homes for sale to view current listings.
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