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Okay, there is technically never a “Black Friday” Sale on real estate since most property is owned individually and not offered as a special.  Black Friday is however, within the traditional seasonal downturn in real estate.   Using Hillsborough County NH as example (see graph below) , even in an overall increasing market, there are peaks and valleys that are attributed to different seasons.  Whether your house is located in Manchester, NH, Bedford, Merrimack, Nashua or Concord, prices rise in the spring/early summer, stabilize in the late summer/early fall and decline in the late fall/winter.

So how does this translate to Black Friday?  Well, if you are truly looking for more affordable prices, considered looking at real estate during the busy holiday season.  While others are shopping for TVs, you shop for real estate.   Sellers are often more flexible since they know it may be months before the winter market “heats” up again.

 

 

Keep in mind if you are order an appraisal (ore reviewing someone’s) whether it is for a divorce, estate, listing or sales purposes, the results can vary significantly as the opinion of value is as of an exact effective date.

If you have any questions, don’t hesitate to call me at (603) 644-1000 or email me directly at: JackLavoie@comcast.net

Happy Black Friday!!

 

 

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As I have discussed earler, real estate values are not linear.  Each year in New Hampshire, prices change and follow a predictable path like the graph illustrates.  Prices rise in the spring, level off in the summer and early fall and decline in the late fall and winter.  Check out “North End” Manchester as of 12/15/2016.

noorth-manchester-trends

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seasonal-effect-of-valuiesEven in years where the market seems stable, property values fluctuate over the course of the year. Historically, values increase in the spring and early summer, stabilize in summer and early fall and decrease over the winter season. This is attributed to several factors such as the “holiday season” and the harsh cold winters we experience in New Hampshire. To illustrate, I have included a graph of Hillsborough single family houses over the last three years. I have noted by highlight and red pen the bottoms of the annual market which happens usually around February or March. The “high water mark” is typically around June or July. So remember, house values DO change regularly. Keep that in mind when you are evaluating your house and making a financial decision. Don’t hesitate to reach out to us if you have questions!

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I would still categorize the Southern NH real estate market as strong, however I am seeing prices begin to level off and inventory rising slightly. The seasonal market can change quickly in New Hampshire. If you are selling your house and its not moving, speak with your agent and re-examine the price. The spring and early summer brought bidding wars on properties. They are not taking place anymore (certainly there are exceptions).   Don’t be behind the curve. house for sale  xx

If you would like a snapshot of YOUR market, reach out to Jack at: jacklavoie@Comcast.net

 

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Today as part of an appraisal, I did an analysis of all single-family homes in Bedford (Condominiums NOT included).  The attached table shows statistics by 3-month and 6-month period.  Look to the right column and you will see that the number of active listings is at a VERY low 44 house which equates to only a 2.2 months supply.  This is very low and can be attributed to potential seller “waiting until spring” to place their houses on the market.  There is a window of opportunity to “beat the crowd”.  If you have any questions regarding Bedford or New Hampshire real estate, appraisal or finance, feel free to email Jack Lavoie a call at (603) 644-1000 or email him at jacklavoie@Comcast.net

Bedford Feb 1 2016

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