October in the North Country has come to an end, and just like the temperatures are dropping so too has the median price this month. Thankfully it's not a bitter chill but a refreshing drop to a median sale price of $320,700. This is down from about $356,000 last month, and even below August which was $330,000. This is driven somewhat by increased mortgage rates which puts pressure on prices and affordability, but could also be the summer real estate season leveling off for the year.
The median days on the market has stayed about the same at 13 for October, up slightly from 12 in September. Similarly the number of sales dropped to 49 from 64 last month. This brings the year-to-date number of sales to 419 which is the slowest year on record since 2012 for the North Country.
Similar to October activity in the Sunapee Region, the North Country experienced a sale price lower than the list price. While the difference was less pronounced in the North Country, it was a $3,300 spread vs $15,000 in the Sunapee Region, it is a notable change from the last 2 years. Each month of lower prices is bringing the year-to-date median sales price down as well, which crested in July of 2022.
While 2022 is not yet over, looking ahead to 2023 we might expect interest rates to continue rising and putting pressure on sale prices. This week the Federal Reserve announced yet another interest rate hike but notes that an "inflection" point might be coming to reassess future hikes. This is primarily to fight inflation, and housing is not immune to these market dynamics. To learn more about where we currently are and to help navigate real estate in the North Country you can get in contact with us here. We are watching the market closely and can help you find the home, or second home, you've been dreaming of.
Bath
37 Rum Hill Road - $200,000
371 Monroe Road - $200,000
341 Lisbon Road - $207,500
73 Tyler Way - $315,000
Bethlehem
64 Church Street - $265,000
680 Wing Road - $300,000
55 Shepard’s Run - $349,000
179 Main Street - $418,000
Campton
7 Perch Pond Road - $250,000
10 Aspen Drive - $268,850
14 Dubeau Circle - $325,000
8 Panaway Drive - $380,000
77 Whitehouse Circle - $450,000
22 Glade Circle - $500,000
Franconia
110 Nature Drive - $1,675,000
Haverhill
516 Dartmouth College Highway - $120,000
3195 Dartmouth College Highway - $150,000
131 Hanover Drive - $191,000
19 Elm Street - $225,000
3016 Dartmouth College Highway - $239,500
249 Sand Road - $242,500
11 Amherst Lane - $445,000
Holderness
245 Hawkins Pond Road - $795,000
192 Mooney Point Road - $2,800,000
Landaff
216 Lost Rive Road - $235,000
Lincoln
31 Louann Lane - $495,000
62 Flume Road - $1,285,000
201 Black Mountain Road - $1,350,000
Lisbon
77 S Main Street - $288,000
Littleton
62 Farr Hill Road - $135,000
173 Beacon Street - $279,900
251 Bethlehem Road - $320,700
1317 Monroe Road - $424,000
564 Old Partridge Lake Road - $440,000
709 Foster Hill Road - $441,500
Monroe
453 Woodsville Road - $63,000
36 Main Street - $225,000
847 Coppermine Road - $430,000
Rumney
38 Water Street - $530,000
Sugar Hill
1283 Route 117 - $574,000
Thornton
29 Notch Spur Road - $138,000
24 Robbins Nest Road - $185,000
29 Judges Road - $220,000
14 Stonington Road - $299,900
17 Wanosha Road - $419,000
792 Upper Mad River Road - $423,200
23 Levi Road - $675,000
Waterville Valley
6 Jennings Peak Road - $857,500
9 Bear Brook Lane - $910,000
*There were no home sales in Benton, Easton, Lyman, Plymouth, or Woodstock during the month of October
**Data is from NEREN MLS and is subject to human error. Sometimes information outside of our control is uploaded to the system late which means our numbers could be off by one or two sales
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