Steady Growth is the mantra for Q1 & Q2 Residential Sales in the Lake Sunapee Region
The residential housing market continues to show good growth in the Lake Sunapee Region as we finish out the first half of the year.
From January 1, 2012 to June 30, 2012, units sold in the Lake Sunapee Region* increased 17% over 2011 in the same time period and total sales volume also increased 9% to $58,019,557. Average selling price remained flat at $364,903 and average days on market increased 4% to195 days on average. Inventory remains high and increased slightly (1%).
Interest rates continue to decline and according to bankrate.com, the national average mortgage rate is 3.89%. This continues to be welcome news for the housing industry. It is clear that buyer’s are seeing real opportunities as sellers have adjusted to market conditions and other factors like mortgage rates continue to be excellent. The fear for buyers of course is to time the market correctly before it starts to rebound.
*Andover, Bradford, Goshen, Grantham, New London, Newbury, Springfield, Sunapee, Warner, Wilmot. Sales data from NNEREN.