A home is one of our biggest investments in life. Our local association gives all of the agents the most up to date statistics to use and inform our clients on. I love taking the stats and giving you a summary. Here is my report for March 2023.
The housing market in the White Mountains area has seen a significant decline in both new listings and sold listings compared to the same period last year, which is reflective of the broader trend of declining home sales in the US housing market. Despite these challenges, potential homebuyers and sellers should not be discouraged from exploring their options in the current market.
According to the local real-time statistics, the total number of sold listings in the White Mountains area is 48.1% lower in 2023 than in 2022. Additionally, the total number of new listings in the White Mountains area is 34.5% lower in 2023 than in 2022. The decline in new listings can contribute to the limited inventory of homes available for sale, which can further support home prices and affordability challenges.
However, the data also reveals some interesting trends across different price ranges. While the decline in home sales is evident across several price ranges, some categories have experienced an increase in home sales. The price range of $140,000-159,999, for example, saw an increase in sold listings by 100% compared to the previous year.
Moreover, the additional statistics provided show some promising trends in the housing market in the White Mountains area. The absorption rate (the measure of supply and demand) has increased significantly by 101.53% in February 2023 compared to the same period in the previous year. This indicates that homes are selling at a faster rate in the current market conditions. Similarly, the average and median sale prices have increased, while the average and median days on the market have increased slightly in February 2023 compared to the same period in the previous year.
However, potential homebuyers and sellers should not be deterred from exploring their options in the current market. For homebuyers, the current market conditions may present an opportunity to purchase a home at a more affordable price point than in previous years. While the limited inventory may make it challenging to find a home that meets all of your needs, I would love to help you identify properties that may not be publicly listed and navigate the home buying process.
If you are considering selling your home, the current market conditions may require some strategic planning to achieve the best possible outcome. Again, I can help you price your home competitively and position it for maximum exposure to potential buyers.
Overall, the local housing market in the White Mountains area may present challenges, but also some promising trends. Let’s talk soon so you can navigate the market with confidence and make informed decisions! Click here to see the latest availability of homes with your criteria. If you’d like to know the get an idea of your homes value, click here. Or, contact me for a free no hassle consultation!