They say April showers bring May flowers and here in the Sunapee region, we are hoping that holds true this month! In this post, we are going to take a look back at the local real estate activity and see how 2023 is shaping up.
In April there were 29 single family home sales among the 16 towns we track (details are below). This brings the year-to-date total to 92, lagging last year's activity which showed 136 on the same time frame. While this seems like a slow real estate market, it's important to keep in mind that previous activity in 2020 and 2021 were unusually busy years.
While the number of sales has decreased over past years, sale prices have remained high and steady. This month's median was $426,000, up from $414,000 in March. For comparison, in April of 2022 the median was $400,000, so prices have increased 6.5% while the number of sales has decreased 29%. The number of sales in April is largely driven by listing and transaction activity over the previous couple of months so this decrease should be taken in stride; the year is still young and we expect the number of listings to pick up in early summer as it normally does.
A rough measure of whether we are in a seller or buyer's market is the disparity between the list and sale prices. In April transactions were mixed whether they sold above or below list price, but across the total volume of sales the selling prices were below the list by 0.8%. So while some homes sold high, and some sold low; they centered pretty closely to their list price.
In the luxury market, meaning sales for greater than one million dollars, there were 3 sales. Their details are below, but what is interesting is the highest priced home had 12 days on the market and the other two of this group were zero. This can be interpreted a number of ways, but it certainly indicates there is still demand in the luxury market and people are willing to make large purchases.
There are many details that can be weighed in real estate activity to influence price, time on market, or any other outcomes of a successful closing. We track a handful of them month-to-month, but there are many more behind the scenes since every house is as individual as the residents which call it home. If you'd like to find out more details about one of the sales listed below, or a property currently on the market; we are here to help!
105 Maple Street - $285,000
12 West Main Street - $238,000
31 Maple View Drive - $426,000
17 Fairgrounds Road - $557,000
79 Province Road - $321,000
341 Howe Hill Road - $310,000
1 Fairway Drive - $496,500
784 Route 10 North - $530,000
538 Lovejoy Road - $350,000
63 Shaker Street - $400,000
25 Scythe Shop Road - $410,000
197 Woodland Trace - $1,400,000
186 Old Province Road - $525,000
33 Chandler Brook Road - $575,000
112 Morse Lane = $610,000
31 Lakewood Manor Road - $1,640,000
130 Bowles - $5,963,000
142 Maple Street - $165,000
687 John Stark Highway - $194,000
43 Parkview Street - $195,000
126 South Main Street - $230,000
19 Ayers Road - $310,000
31 Cornish Turnpike - $360,000
624 Bradford Road - $386,500
45 Route 11 - $439,000
121 Upper Bay Road - $1,000,000
61 Annis Loop - $576,000
78 Pinnacle Road - $535,000
*There were no home sales in Croydon, Springfield, Sutton, Unity or Washington during the month of Aprilh
**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