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Londonderry NH real estate trends

April 14, 2009

Single family homes for sale in Londonderry New Hampshire dropped to 82 from 116 real estate listings a year ago. In March 2009 14 MLS listings were sold up from 10 in March 2008.

Is the Londonderry real estate market turning? Home for sale inventory is down 29% while sold properties are up 27% year over year.

For Sale (light green), sold (dark green) and pending (red) homes in Londonderry NH

For Sale (light green), sold (dark green) and pending (red) homes in Londonderry NH

Average list price of the active real estate listings dropped from $368,000 in March 2008 to $337,000 in March 2009, an 8% decline. Sold home prices in Londonderry New Hampshire decreased by nearly 10% from $301,00 to $272,000 year over year. Have home sale prices come down enough to sustain increasing demand?

Average list price (green) and sold home prices (red) in Londonderry NH

Average list price (green) and sold home prices (red) in Londonderry NH

The increasing pace of home sales is probably a combination of seasonality, reduced prices, low interest rates and government incentives; a $8,000 tax credit for first time home buyers. As a result, the inventory of real estate for sale in Londonderry NH measured in months it would take to sell at current sales volume, has decreased to only 6 months, which is about half of the supply a year ago and a staggering drop from the 23.5 months inventory in December 2008.

Months of inventory of homes for sale in Londonderry NH

Months of inventory of homes for sale in Londonderry NH

related:

Daily update of price reductions in Londonderry NH

Londonderry NH price reductions

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