September 2020 Market Update: It’s never been better to be home in NH!
Buying or selling a home is a major undertaking—even in the best market conditions. The Covid-19 pandemic has brought with it a new set of challenges, one which we at Manter Realty take seriously. Ever mindful of the safety of our clients and our agents, our implementation of showing protocol and mandatory PPE have enabled us to stay busy serving the greater Concord community during a time when many other industries remain under restrictions. And we have been busy!
As we predicted in our Spring Market Update, the housing market in NH has shown incredible resilience. Business is booming, with higher home sales than in the pre-pandemic days! Sales for July increased 30.6% across the whole Northeast, up 4% from the same time last year. The toughest issue our current housing market faces is a shortage of inventory. Right now, the inventory of homes is at a 20-year low, and any semblance of a more balanced market is not expected for the remainder of this year. New home construction has not been able to keep pace with demand, so it’s expected that these conditions will continue well into next year, with home sales increasing another 8-12% in 2021.
The necessity of working from home has caused many folks in urban settings to seek out more space, and we’re seeing a major trend in relocations from Boston and other urban centers into our community. This is only fueling already fierce competition among homebuyers, driving bidding wars and remarkable selling prices far above asking. For those lucky buyers who have an accepted offer, it’s also a good time to secure a mortgage. Mortgage rates follow the treasury yield, and because of the super-low 10-year treasury yields, 30-year mortgage rates may fall still further.
As the Fall season approaches and New Hampshire continues to cautiously reopen, you might be considering a move. If so, there are a number of reasons to call us:
Key to maximizing the greatest net proceeds from the sale of your home is a pricing strategy, and Linda Manter brings her credentials (Certificate in Appraising) and knowledge of local market values to get it right! Most recently this summer, her Seller clients have realized gains of $20,000-$25,000 over asking price in less than one week on the market!
Never underestimating the importance of first impressions, our team of experts in: photography, photo editing and online marketing all contribute their best talents to attract the widest audience of highly qualified buyers for your home.
“Our home is our sanctuary.” … Perhaps more today than ever before, we all feel the depth of that statement. Our Seller clients can rest assured in the knowledge of our commitment to safety in showing their homes during these times.
Finally, the feeling of peace and abundance that homeownership brings is paramount to our sense of well-being, and it is our privilege to serve you in realizing your goals as they relate to “home.”