ResalesNew Hampshire"s Merrimack Valley Poised For Growth, Says Realtor
The Merrimack Valley Region"s past is every bit as colorful as its maple trees in fall, says a local Realtor.
Manchester/Bedford
"A century and a half ago, the red brick mill communities welcomed immigrants from Greece, Canada, and Ireland and around the world," says Realtor Mark Allen. "These people helped make Manchester the largest textile-producing city in the world in the late 1800s, outstripping even Manchester, England. Manchester"s nickname is the "Queen City;"it is the state"s financial center and home of the state"s largest airport. In 1998, Money Magazine named Manchester the "Number One Small City in the East."
About the market, McGuire says, "The Greater Manchester/Bedford area marketplace remains to be stable if not somewhat brisk which is not only attributed to the favorable interest rates but also to the continued expansion of the Manchester Airport. This expansion attracts more business which means more customers relocating to our marketplace."
Milford
"Beyond business fundamentals," explains McGuire, "superior quality of life is what employers and employees find most attractive in the Greater Nashua region and New Hampshire."
He says, "The Milford market is still going well. Although sales have seemed to slow down in the over $300,000 price range. Appreciation has definitely slowed and leveling off. As of September 22, 2003, there have been 195 sales in Milford, with only 154 at the same time last year. This includes single family homes, condos, multi-families and land. The average price range in residential homes is up this year to $253,632 compared to last year"s figure of $226,999.This is a good sign, but don"t expect that figure to keep growing into next year."
Salem
"Salem, New Hampshire is a community of approximately 28,000 which borders Massachusetts," explains McGuire. "Southern New Hampshire has been determined to be one of the best places to live in the United States. Salem, in particular, has good schools, easy access to highways, has a thriving commercial base, is within 1-2 hours ride to mountains, lakes, ocean and Boston, so there is something for everyone. New Hampshire still enjoys tax-free shopping, too!
"As of 9/19/03 there were 116 current residential listings with an average list price of $385,316 and average days on market of 72," he says. "Condominium listings in Salem number 22 with an average list price of $132,913 and 70 days on market, on average according to North New England Real Estate Network. Year-to-date sold residential listings number 195. The average sale price is $310,360 with 74 average days on market. Comparing to same period prior year, the sales of residential properties are down approximately 6 percent but the sales prices are up approximately 8.5 percent with 2002 having 207 solds, average sale price of $285,500 and days on market of 71.
"Comparing condominium sales, 2003 and 2002 both show 50 sold. The average sale price for the current year is $100,485 with 37 days on the market. The year 2002 sold price averaged $102,816 for a decrease in price of about 2 percent. Average days on market was 33 days last year. These statistics show a fairly level market for the two-year period shown, with no drastic increases or decreases in price or length of time from list to under contract. As a result, Salem is enjoying an active market this year."
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