As we kick off a new year of real estate in the Sunapee Region, here is a look back at the first month of 2023.
It’s been a slow start to the year with only 19 sales in January which lags last January at 31 sales. This has been the slowest start to the year since 2014. The median sale price is also down from December when it was $415,000 to now $390,000 in the Sunapee Region. However, this is still higher than January 2022 where the median sale price was $325,000 and the year-over-year increase is 20%. This year-over-year increase might drop quickly in the coming months because last year’s prices began to quickly climb in the spring and summer, but leveled off in the last half of the year. If prices stay consistent or have modest increases the year-over-year increase will decline.
The median days on market was 9 which indicates an active market, and is faster than most months in 2022. This could be attributed to limited inventory and strong demand. The list versus sale price was consistent with the trends at the end of last year. The average list price was $528,836 and the average sale was $511,679.
It will be interesting to monitor the real estate activity over the year ahead. We saw rising prices and record high volumes in 2020 and 2021. However through 2022, and now beginning 2023, there are less sales than the previous years, but fortunately it has been a gradual reduction and is falling back toward historical norms.
162 Maple Street - $390,000
61 Bridge Road - $408,000
78 Fletcher Road - $331,700
17 Redwater Road - $370,000
52 Brookridge Drive - $379,000
485 New Aldrich Road - $700,000
38 Parkside Road - $270,000
195 Pine Hill Road - $430,000
117 Northwood Lane - $784,805
1769 Little Sunapee Road - $1,540,000
68 Wildwood Road - $642,000
35 Winter Street - $350,000
360 Hogg Hill Road - $560,000
304 Route 103 - $385,000
77 Burkehaven Hill Road - $546,500
141 Shaker Street - $304,900
12 Charles Avenue - $325,000
12 School Street - $355,000
467 Poverty Plains Road - $650,000
*There were no home sales in Bradford, Goshen, Lempster, Unity, Washington, or Wilmot during the month of January
** 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