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What's Happening with New Hampshire Real Estate in 2016?
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I'm happy to tell you that Bedford had a great year in real estate. We sold 70 more homes last year compared to the previous year. In 2015, we sold 376 homes; in 2014, we sold 306. That's a little over a 20% increase in sales. This is great news for homeowners in the area.
Nearly half of homes sold were in the $300,000 to $500,000 range. However, things have been going well in all price ranges.
The condominium market is also performing well, and we have less than half the amount of inventory that we had last year. We actually only have 5 condos available, and I think this is because so many people are wanting to downsize. The main reason behind this trend is there are a lot of baby boomers that are moving out of their homes. Expect low inventory for condos throughout the year.
Another thing we can expect is an early spring selling market because the weather has been so warm. Spring will be here in early February, and this is partially caused by rising interest rates. If you've been looking to buy a home, then 2016 may be a great time to do so.
Please don't hesitate to contact me if you have any questions or concerns!
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