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Real Estate News/Advice

Sunapee Region Home Sales and Values 2000 to 2019

It’s no surprise that the 2019 housing market is another one for the books. Following a strong 2018 where we saw a record-breaking median sales price of $282,500 in New Hampshire, 2019 is showing equally notable stats coming in with a median sales price of $300,000, year-to-date as of November. Of course, December sales will impact that number, but it prompted us to take a deeper dive into historical homes sales data. Since we’ll soon be celebrating the beginning of a new decade, we wanted to dust off the numbers going back to 2000. Here’s what we found…

Since 2000, the median sales price has increased by 63% for the State. Looking at our local market, the median sales price for the Sunapee Region* has increased by 57%. Another remarkable data point to note is the Days on Market (DOM) which have dropped from 100 in 2000 to 61 DOM in 2018 for New Hampshire, and 110 to 50 DOM for the Sunapee Region. Locally we are seeing the DOM for 2019 hover around 39 and the median sales price at $250,000**.

The number of single-family properties sold are continuing to hold steady with 2018 transactions (644 transactions from Jan 1 – Dec 10), which is higher than pre-recession sales in 2005, both locally and for New Hampshire. In 2018 there were 655 transactions compared to 573 in 2015 and 613 in 2005. In 2010 when we were in the midst of the recession, single family home sales came in at 388 for the year.  Single-family home sales for the State followed a similar pattern with 17,525 transactions in 2018, 16,159 in 2015, 10,525 in 2010 and 16,264 in 2005.

The graphs below display median sales price data and DOM for both New Hampshire and our local market looking back to the year 2000. If you’re curious about data specific to a certain town, please feel free to reach out and we would be happy to send you town reports! As always, if you have questions regarding your local real estate market, we are available to provide additional information—feel free to call, text or email any of us on the O’Halloran Group Team.
Median Home Sales Price New Hampshire


Median Home Sales Price Lake Sunapee Region


Home Sales Days on Market New Hampshire


Home Sales Days on Market Lake Sunapee Region

* The Sunapee Region data set includes residential, single-family homes sales from the following 16 towns: Andover, Bradford, Croydon, Grantham, Goshen, Lempster, Newbury, New London, Newport, Springfield, Sunapee, Sutton, Unity, Warner, Washington, Wilmot.

** Data pulled for the following time period: January 1, 2019 - December 10, 2019.

Quarter Four Newsletter

As 2018 comes to a close, we want to say thank you to all of our clients (current and past) for allowing us to be a part of your home buying and/or selling journey. Its a true privilege and honor to work with you during such an important transition, and we are grateful for the trust you have placed in us. We also want to thank our friends and family for the support and encouragement you have given us as we have reached new milestones this yearincluding opening our office on Main Street in New Londonwe couldnt have done it without you! We wish you all a very happy and safe holiday season, and we are beyond excited to see what 2019 brings!

Happy holidays, Dan, Christina, Taylor, Josh and Ben The OHalloran Group

Winter Market Update

The winter season has very quickly descended upon the Sunapee Region and faster than some had hoped for. As outdoor enthusiasts, we tend to enjoy the early snow, but we know that it can also cause a bit of angst for those who are looking to sell their home. With the holiday season in full swing, and people settling into their cold-weather routines, we began to receive a myriad of questions from our selling clients. Click the link to read our blog article highlighting a few of the most common questions that we hear.

Click here to read more!

OHalloran Group Welcomes Ben Cushing and the Cushing School of Real Estate

The OHalloran Group is pleased to welcome Realtor and broker, Ben Cushing. In November, Ben launched theCushing School of Real Estateand is now offering both the salesperson pre-licensing certification course and continue education classes. With more than 22 years of real estate experience, he brings a wide spectrum of real estate industry knowledge and real-life scenarios into the class room. Ben is also part of the OHalloran Group, Keller Williams Lakes & Mountains teamso if you stop by our Main Street office in New London, you may see Ben around!For more information about The Cushing School of Real Estate, Click Here!

Their are so many wonderful ways to enjoy winter here in the Lake Sunapee Region and we don't want you to miss any of our favorite local traditions. Check out the link below to read our blog with all the festivities including our favorites such at; Dinner with Jack Frost, Ice Day at Muster Field Farm and much more!

Click here to see the full run down!

Real Estate Update and Fall Things To Do

Is it still a sellers market? How long until the housing market shifts? Am I running out of time to sell my home and earn the best possible value? Should I wait for the market to change before buying? As the summer fades to an end and we start to enter the fall and winter seasons, these are the types of questions we are asked from our clients, customers, friends and family.

In addition to our monthly home sales stats that we normally report on, this month I also want to share some of the key economic predictions from the New England Realtor Committee conference and how they compare to what we are seeing locally. We also sought financing insight from Mascoma Bank SVP Mortgage Sales Manager, Cathy Murray. Click the link below to check out our blog and learn more about our Local Real Estate Market and our thoughts on where it's headed.

Gather Your Flock for the 2nd Annual Duck Drop!

We had so much fun at the inaugural Duck Drop in 2017 that we are back at it and gearing up for the 2nd Annual Duck Drop scheduled for October 6! Lets face it, how can you not have a great time launching cute yellow rubber duckies off a chair lift in hopes of winning some seriously cool prizes! A HUGE THANK YOU to all of the local businesses who helped us pull together an amazing Locals Prize Package (Make sure to aim for the the OHalloran Group target if you want a chance to win it!

Thanks to the following AMAZING local businesses for helping us create a Locals Prize Package!!

  • Mug club membership at the Flying Goose Pub
  • Dinner Cruise for two on the MV Kearsarge
  • Brunch for two at the Inn at Pleasant Lake
  • $50 Gift Card to Allioops
  • $50 Gift Card to Bubbas
  • $50 Gift Card Pizza Chef New London
  • $100 in Gift Cards to Marzelli Deli

Come hang with the OHalloran Group team between 10:00 am and 2:00 pm at Mount Sunapee and join in on the fun! To buy ducks in advance of the big day and to learn more about the event, visithttp://nhduckdrop.com/

When it comes to fall, New England does not mess around. The Lake Sunapee Region has so many amazing events and festivities lined up to be sure you, your friends and family are able to enjoy all fall has to offer. Check out our blog for a line up of all the details on the local events such as theWarner Fall Foliage Festival, Sunapee's Chowder Challenge,Muster Field Farms Harvest Weekend and more!

Update on our Delicious Neighbor Blue Loon Bakery posted their new fall hours! They will be openWed-Fri, 7:00 am - 4:00 pm; Sat 7:00 am 2:00 pm, Sun 8:00 am 2:00 pm. Also, if you havent been in recently, stop by and check out the new art exhibits by Barbara Hunting Crittersart work) and Bill Balsam (Loon photography).

Josh and Taylor at Chamber Night representing the 90's for the "Through The Decades" theme this year!

Real Estate Market Update - September 2018

Is it still a sellers market? How long until the housing market shifts? Am I running out of time to sell my home and earn the best possible value? Should I wait for the market to change before buying? As the summer fades to an end and we start to enter the fall and winter seasons, these are the types of questions we are asked from our clients, customers, friends and family.

Recently I had the opportunity to attend the annual New England Realtor Committee conference, a two-day event filled with updates from the National Association of Realtors (NAR), economic reports, and a chance to speak with other Realtors from 6 different states about what theyre seeing in their local markets.

Because we dont have a crystal ball to see into the future, we rely on current and past market data and historical trends to best advise our clients on their home purchase or sale. In addition to the monthly local home sales data that we regularly report on, I also want to share some of the key economic predictions and data points that were shared by NAR Chief Economist, Lawrence Yun.

  • Home prices are approaching record highs with foreclosures rates close to historic lows.
  • Inventory levels have fallen for three straight years and continue to be low.
  • Buyer demand is still there, but high home prices and low inventory will lead to a sales slowdown in some of the nations most overheated real estate markets.
  • Yun speculated that interest rates will rise modestly, potentially reaching 5.5% to 6% at the end of 2019 and we shouldnt expect them to come back down to current levels.

So how does this compare when we take a look at the 16 towns that make up our local market? As youll see in the graphs below, residential inventory in 2015 was just under 900 active listings. For the same month in 2016, inventory dropped closer to 600. In 2017 the decline continued to under 600 active listing, and in July 2018, inventory clocked in around 400 residential properties for sale*.

Now, what about home sales? We are still seeing high buyer demand in our local market and home sales are trending in the opposite direction despite inventory levels. In 2015 there were 572 home sales, in 2016 that number increased to 668 and then held strong in 2017 at 666 home sales.

For the million-dollar question; Where will mortgage interests rates be in the future? we look to SVP Mortgage Sales Manager at Mascoma Bank, Cathy Murray.

I monitor several sources trying to predict the answer, says Murray. Sam Khater, Freddie Macs chief economist is one of those sources. Khater recently stated Mortgage rates are currently 0.82 percent higher than a year ago, which is the biggest year-over-year increase since May 2014. Overall, this spectacular stretch of solid job gains and low unemployment should help keep home buyer interest elevated. However, mortgage rates will likely also move up, as the Federal Reserve considers short-term rate hikes this month (September) and at future meetings.

Murray continues, We have seen a decline in the refinance volume which is extremely rate sensitive. However, nationally mortgage applications to purchase a home, which are less rate-sensitive, rose one percent last week and were four percent higher than a year ago, this is according to CNBC Business News and Finance. This validates my feelingsI dont see the recent interest rate increase as the sky is falling. Peoples lives and circumstances change. They get married, they get jobs or new jobs that require relocation in some circumstances, they have children, and unfortunately, they sometimes get divorced. These changes typically require a housing change, regardless of mortgage interest rates. We are fortunate to live in such a beautiful, prosperous and resilient area. My answer to the million-dollar question; real estate remains a good investment. Borrow responsibly.

Going back to the questions at handI do believe that it is a good time to sell. Echoing Cathy, every client we work with has their own unique reasons to buy or sell, and that decision is highly personal. Given that inventory remains low and we are still seeing a high buyer demand, if personal situations indicate the time is right, then I do encourage people to list their home for sale. Summer is beautiful in the Lake Sunapee Region, but we are fortunate to be located in a four-season destination and we generally continue to see high buyer inquiry activity throughout the fall and even winter months.

As always, if have questions regarding the Sunapee Region/New London real estate market, or if you are interested in selling or buying, please reach out at any time!

Dan OHalloran Owner/Broker, OHalloran Group, Keller Williams Lakes & Mountains President Elect, New Hampshire Association of Realtors dan@sunapeeregionproperty.com C: 603-252-6428 O: 603-526-8600

*Data Source: New England Real Estate Network, 9/13/18. Class=Residential

Data based on the following towns in Merrimack and Sullivan counties: Andover, Bradford, Croydon, Goshen, Grantham, Lempster, Newbury, New London, Newport, Springfield, Sunapee, Sutton, Unity, Warner, Washington, Wilmot.

Quarter Two Newsletter

We are pleased to announce our new office location in New London is OPEN!

2018 has been quite the year so farwe welcomed Buyer Specialist, Josh Lizotte, Dan stepped into his new role as President Elect for the New Hampshire Association of Realtors, and we opened the doors to the new office in April. You can now find the OHalloran Group team at 12 Lovering Lane (front entrance is off of Main St.). We invite all current and past clients, friends and family to stop by for a visitANDif you happen to do so June 29 or after, Blue Loon Bakery will be OPEN. Thats right, you can indulge in delicious artisan breads and pastries (not to mention, ice cream from Sanctuary Dairy Farm, great coffee from Wayfarer Coffee Roasters, and sandwiches), all during the same visit.

We hope to see you soon, but in the meantime, here are some photos of the before and after office renovations and a sneak peak of the unbelievable goodies that Owner and Baker, Laurie Schive, has been whipping up.

This May home sales in our region were upover 14.8% when compared to May 2017!There were 62 home sales with a median price of $223,650. If youre trying to make a decision to buy or sell, we encourage you to visit our website where youll find a wealth of information on sales trends (including median sales price and number of home sales by town, by month).

In addition to our monthly home sales breakdown, we also complied stats and fun facts on 2017 annual sales specific to Lake Sunapee. Last year 22 waterfront homes sold (just one more than in 2016).As of the today, there are xx homes for sale on Lake Sunapee. Check out the infographic below or click here to see a detailed report on lake sales for 2017.

Home inventory in our region remains low so if youve ever thought about selling, or if youre interested in a FREE market analysis, please give us a call at 603-526-8600 or email dan@sunapeeregionproperty.com.

Below is a quick line-up of Independence Day firework celebrations happening in and around New London and the Lake Sunapee Region. For a full event schedule (including parades and live music), click here to visit our website. If you know of other events or happenings, send us a Facebook message or email at christina@sunapeeregionproperty.com, and well add it to the list!

Also, if you're interested in FREE...yes that's right, FREE fireworks, visit either one of our Facebook pages (Lake Sunapee Region or O'Halloran Group) and comment on, or share the Fireworks coupon. Thanks to Noise "R" Us! Fireworks in Newport for making this possible!!

SATURDAY, JUNE 30 Bradford Independence Day Celebration Fireworks at 9:30 pm Event website

TUESDAY, JULY 3 Sunapee Yacht Club Fireworks

SATURDAY, JULY 7 Sunapee Harbor Fireworks 9:00 pm Event website

Fireworks Cruise, MV MT Sunapee 8:00 PM Click here for more info

Pleasant Lake Fireworks & Flares Flares will be lit at approximately 9:00 pm Fireworks will begin around 9:30 pm Event website

Check out the O'Halloran Group on facebookand receive FREE fireworks courtesy of our friends at Noise "R" Us!

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