Spring has officially begun in the Sunapee Region! Even if the weather hasn’t warmed up much yet, real estate activity has!
In March there were 31 closings, up significantly from February which was unusually slow at only 13 sales. This has brought the year-to-date closings up to 63. Given that March was almost half of the closings for the first quarter, it is not much of a surprise the median sale price for the month matches the year-to-date at $413,500. This relatively busy month has a way of clouding out the developing trends from January and February.
While median prices have been consistent, there was one home which sold for more than one million dollars, which was in Sunapee. This property sold for over the list price, meanwhile overall median sale prices were lower than the median list prices. The median days on the market also fell back to previous levels at 7 days in March versus 67 in February. The story of February seems to be one of scattered data due to the limited number of sales.
It seems every month there is a new economic topic taking the spotlight from inflation, to raising interest rates, and surprising bank failures. While oddities are happening, most activity, including real estate, seem to be continuing along similar to how they ended 2022.
Mortgage rates rose rapidly in 2022 but seem to have leveled off, even though there are daily fluctuations. Current rates fall closer to historical norms than they did last year at this time. While that’s no relief to buyers today, the stability should bring some assurance to the real estate market.
What we can say for certain is that the market is diverse right now. Some homes sell for over asking price while others go for less. Some are selling rapidly, others spend more time on the market. For these reasons it is even more necessary to have a knowledgeable professional working with you. If that’s who you are looking for, contact us to get started buying or selling!
Andover
102 Plains Road - $290,000
74 Cilleyville Road -$335,000
Bradford
114 East Main Street - $410,000
Grantham
54 Brookridge Drive - $330,000
6 Dartmouth Place - $360,000
52 Troon Drive - $385,000
33 Spring Valley Drive - $489,000
8 Mill Pond Lane - $490,000
18 Bobbin Hill Road - $535,000
24 Wildwood Drive - $540,000
New London
75 Ridge Road - $413,500
236 Little Sunapee Road - $660,000
1029 Route 103A - $667,500
518 Old Main Street - $750,000
Newbury
13 High Ridge Road - $285,000
68 Stoney Brook Road - $573,000
Newport
493 Sunapee Street - $115,000
181 Cheney Street - $235,000
494 Unity Road - $270,000
239 East Mountain Road - $658,000
Springfield
155 Four Corners Road - $490,000
Sunapee
41 Coventry Drive - $499,900
96 Upper Bay Road - $2,925,000
Sutton
61 Foothills Road - $375,000
31 Old Sutton Road - $644,900
Unity
676 2nd NH Turnpike - $85,000
Warner
61 Tom’s Pond Lane - $295,000
Washington
32 Sweeney Road - $60,000
56 Pierce Road - $545,000
Wilmot
21 Granite Hill Road - $200,000
16 Shindagan Road - $415,000
*There were no home sales in Croydon, Goshen, or Lempster during the month of March
**Data is from NEREN MLS and is subject to human error. Sometimes information outside of our control is upload to the system late which means our numbers could be off by one or two sales
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