fbpx
Menu

Window of opportunity open for Meredith home sellers

Meredith, New Hampshire

If you own a single family home in Meredith and have been waiting for a good time to sell, a window of opportunity is wide open. It’s clearly a seller’s market, enriched by many conditions that are also presently favorable for buyers. But the window to profit from this seller’s market won’t stay open indefinitely.

It’s an opportune time to sell in Meredith because home prices are peaking, the number of “days on market” has plunged, interest rates and economic conditions are excellent for buyers, the inventory of for-sale homes is low, and marketing technology has never been better.

First, let’s look at each condition favorable for sellers.

            In 2018 the median “closed” price for Meredith single family homes surpassed the previous peak attained back in 2008. This represents the highest median home sale values in Meredith in over a decade, since 2006, when many prices were artificially inflated by the loose lending practices that led to the subprime mortgage crisis.

            Additionally, with just 35 median days on market in 2018, single family homes in Meredith sold at the fastest pace in at least 21 years.

            Regarding inventory, there are presently only 33 single family homes actively listed for sale in Meredith, a town the U.S. Census Bureau estimates to have 6,384 residents and 4,654 housing units.

A low supply of for-sale homes advantages sellers, as buyers become more willing to overlook perceived shortcomings in a home (like dated bathrooms and cabinets) when there is little inventory to choose from. The result can often be multiple offers, stronger negotiating position and higher prices for sellers.

Finally, marketing tech for sellers has never been better. Imagine how great your home will look when professionally marketed with Roche Realty Group’s capabilities for drone aerial videos, which dramatically highlight the beauty of the Lakes Region, and Matterport® 3D virtual tours, which give buyers an amazing, Google Street-like navigation of home interiors (visit LakesRegionHomeSeller.com/marketing-your-property for examples).

            Next, let’s examine why the window of opportunity is wide open for buyers to make strong offers on your Meredith single family home.

            According Freddie Mac, mortgage interest rates have declined to 4.35%, which is the lowest rate since February 2018. This is welcome news for buyers who had grown accustomed to abnormally low interest rates, and watched in dismay as they neared five percent in mid-November, 2018, a rate many had not seen in years, or ever. Consequently, the number of consumers applying for mortgages is on the rise.

            Buyers also have additional reasons to be confident… for now. According to a recent CNN Poll, 71% of respondents said the nation’s economy is in good shape. That’s the highest percentage to say so since February 2001. The survey also found that 42 percent of respondents said their personal financial situation is better off today than it was three years ago.

            These survey results correspond with several other economic indicators that give buyers confidence. For example:

  • Our nation’s Gross Domestic Product (GDP) grew 3.1 percent from the fourth quarter of 2017 to the fourth quarter of 2018, the fastest growth pace in 13 years.
  • More than 2.6 million jobs were created in 2018, and the number of job openings surpassed the number of unemployed workers for the first time on record.
  • The unemployment rate hit 3.7 percent in September 2018, a near 50-year low.
  • The unemployment rate remained at or below 4 percent for the past 12 months, the longest streak in nearly five decades.
  • Nominal wages grew 3.4 percent over the last 12 months, the fastest pace since 2009.

So it’s a great time to list a home in Meredith, but these conditions cannot persist indefinitely. What goes up must come down, including windows of opportunity. Let me give you some reasons why.

Consider that home prices in Meredith have far exceeded income growth in New Hampshire and Massachusetts, our two largest buyer markets.

Meredith home prices spiked 26 percent between 2010 and 2017. During that same period real median household income growth in New Hampshire was stagnant, and in Massachusetts income grew just 6.7 percent. When homes become overvalued, buyers pause until prices correct.

For example, Meredith median closed prices plunged more than 34 percent between the previous peak in 2006 and the market bottom in 2010. Those who missed the opportunity to sell during that window opening had to absorb painful losses or wait more than 12 long years for values to recover. That would be the equivalent of a $123,000 loss in value from 2018 median home prices in Meredith.

While the news on interest rates is good for 2019 (on Wednesday the Federal Reserve signaled that it likely will not raise rates for the remainder of the year), mortgage rates are influenced by the Fed’s adjustments to interest rates, and many officials at Wednesday’s Fed meeting hinted that a rate increase is likely in 2020.

It’s undeniable that the economy has flourished in the last two to three years, but economies move in cycles, just like real estate markets. Another recession is inevitable, a matter of when, not if.

According to the Fortune media group, “The risk of a recession is seen at a six-year high. In fact, more than three-quarters of corporate chief financial officers expect one by the end of 2020.” This outlook is shared by nearly half of the real estate experts and economists who responded to a recent Zillow survey. The prospect of recession in 2020 makes spring 2019 an excellent time to list.

Tom Peters, esteemed author and expert on business management practices, once said: “If a window of opportunity appears, don’t pull down the shade.”

If you own a single family home in Meredith and have been waiting for a good time to sell, a window of opportunity is wide open. Generally, Meredith homes are selling at peaking prices and the fastest speeds on record. It’s clearly a seller’s market due to strong buyer demand and a limited supply for for-sale homes.

If you’re curious about how much money you could earn for your Meredith home in the best seller’s market in over a decade, contact me… before the window slams shut!

Brent Metzger is a Realtor® with Roche Realty Group. He may be reached at (603) 229-8322 or www.LakesRegionHomeSeller.com.

Share on facebook
Share on twitter
Share on google
Share on reddit
Share on pinterest
Thanksgiving for NH

Thanksgiving for New Hampshire

We have so many reasons to be thankful to live in New Hampshire. I have …

Read More →

There are many reasons to live in New Hampshire

It is said that the three most important words in real estate are “location, location, …

Read More →

2019 Parade of Homes to be held October 12-14

Get inspired this weekend with the latest in building trends and innovations! The 2019 Parade …

Read More →
White Oak Motel and Lakefront Cottages Sold

White Oak Motel and Lakefront Cottages Sold

Holderness– The White Oak Motel and Lakefront Cottages located on White Oak Pond has recently …

Read More →

Lakes Region real estate activity for the first 8 months has been strong

Article by Frank Roche, President of Roche Realty Group.    Real Estate activity for the …

Read More →

Historic Homes: Buy with Your Head as Well as Your Heart

Historic Homes: Buy with Your Head as Well as Your Heart I’d like to recommend …

Read More →
Northeast Storage has purchased a commercial building located at 57 Reservoir Road.

Northeast Storage purchases unique Reservoir Road building in Meredith

MEREDITH — Northeast Storage has purchased a commercial building located at 57 Reservoir Road. Tom …

Read More →
111 Church Street, Laconia

Former Lakes Region mental health building listed and sold by Roche Realty Group

LACONIA — Rick Hagan of Roche Realty Group in Meredith, NH represented the seller, Lakes …

Read More →

Live where others dream of vacationing

https://youtu.be/7G5Z4QRBzzc Weirs Beach is a recreation destination with something for everyone, including beautiful lake and …

Read More →
Gilford, NH landmark former restaurant sold

Former well-known restaurant in Gilford recently sold

Gilford, NH – A local Gilford landmark built in 1975 and operated as a restaurant …

Read More →
Lakes Region NH

Tips for buying a home in the Lakes Region

New Hampshire’s Lakes Region is an amazing place to own a home, whether it’s your …

Read More →
South Down Shores, a gated community on the shore of Lake Winnipesaukee, NH

Kevin Shaw of Roche Realty Group Inc. Produces Over $20 Million in Sales For 1st Half of 2019

Laconia- Frank Roche, President of Roche Realty Group Inc with offices in Meredith and Laconia, …

Read More →

Lakes Region full throttle during Motorcycle Week

You can already feel the area rumbling with visitors and activity this week as the …

Read More →

Is home ownership right for you?

There are advantages to both buying and renting, depending on your current lifestyle and financial …

Read More →

New Hampshire Ranked #2 Best State in the USA for 2019

The good news is out! New Hampshire as a state performed exceptionally well in a …

Read More →

Winnipesaukee Waterfront Sales Activity Spring 2019

The weather is getting warmer, the “Big Lake” is thawing out and the real estate …

Read More →
searching for homes on the internet

The homebuyer’s online search is like online dating

Searching for homes online can be a lot like trying to find love through online …

Read More →

The Importance of Getting Pre-Approved for Your Home Mortgage

If you want to be an attractive buyer in a competitive housing market, you’ll definitely …

Read More →
Lake Winnipesaukee, Moultonborough, NH

Moultonborough homes sold at highest prices, fastest pace ever

It’s a historical time to sell a single-family home in Moultonborough, New Hampshire. Data suggest …

Read More →
For sale by owner sign next to a house

For Sale By Owner? The facts about risk and reward

If you’re trying the “For Sale By Owner” (also known as FSBO/fizbo) approach to selling …

Read More →

What to do if your listing expires

Expired listings are a frustrating reality in real estate. If you want to change the …

Read More →
Meredith, New Hampshire

Window of opportunity open for Meredith home sellers

If you own a single family home in Meredith and have been waiting for a …

Read More →
Gilford, NH

It’s an unrivaled time to sell your single family home in Gilford

If you own a single-family home in Gilford, it’s an unequalled time to sell. It’s …

Read More →

Why it’s a great time to sell your home in Laconia

If you own a single-family home or condominium in Laconia, it might be a great …

Read More →
Own a piece of the playground!

Recess is better when you own a piece of the playground

When I was a kid my favorite part of the school day was recess, that …

Read More →
Hourglass and home

Has your home been on the market for too long?

Once there was a man who loved traveling, but he had been around the world …

Read More →
letting go

Letting go can show more strength than hanging on

One day a philosophy professor walked into her classroom while holding a drinking glass filled …

Read More →
New home first time homebuyers

You Always Remember the First

There’s just something special, nostalgic and memorable about the first, whether it’s a first kiss, …

Read More →
CEO

Sell Your Home Like A Boss

Some home sellers act as though their job is finished the moment they engage the …

Read More →
Real Estate Closing issues

Closing Crashers

You know the scene. It’s been in dozens of movies. The bride and groom hold …

Read More →
Roche Realty Group Meredith Office

Roche Realty Group Inc. Reports Sales of $121.6 Million for 2018

Meredith NH – Frank Roche, President of Roche Realty Group, Inc. with offices in Meredith …

Read More →
Kevin Shaw Realtor

Kevin Shaw is Roche Realty Group, Inc.’s Top Producer for 2018

Laconia, NH—Roche Realty Group, Inc. with offices in Meredith and Laconia congratulates Realtor® Kevin Shaw …

Read More →
Sell your home in the winter

How to keep (your home) from getting stuck in a snowbank

Back when I was a teenager and knew everything (or at least far more than …

Read More →
Ribbon Cutting Ceremony at Highland Ridge in Tilton, NH

Ribbon Cutting at Highland Ridge – the Lakes Region’s Newest Community

Tilton – It was a bright sunny day at the ribbon cutting ceremony in Tilton …

Read More →
moving van

Moving in Your Senior Years? Here’s How to Do it Right

Guest post by Harry Cline.  Is there any task more dreaded than moving? While no …

Read More →

Why winter can be a hot time to sell your home

Winter can be a prime season to sell your home because the change of season …

Read More →
Samoset on Lake Winnipesaukee

What We’ve Learned from the “Go-Go 1980’s”

The 1980’s were dynamic and a lot of fun for many real estate professionals in …

Read More →

Consider listing now because what goes up must come down

If you’ve considered selling, it may be a great time to list your Lakes Region …

Read More →
Tower Hill Cottages - (Just Sold). Laconia NH

John Ganong of Roche Realty Group Sells Tower Hill Cottages

Laconia, NH- Tower Hill Cottages located at 220 Endicott Street North in Laconia NH has …

Read More →
The Village Store in Gilford NH

A New Era at the “Village Store” in Gilford!

Have you driven by the Village Store lately? The centerpiece of a small town’s culture …

Read More →
bungalow

The Bungalow-down

According to the New England Real Estate Network’s multiple listing service (MLS), 50 Lakes Region …

Read More →
Seller painting a house

Sell Your Home by Thinking like a Buyer

A Realtor’s® job is to sell properties for and to clients. But in some cases …

Read More →

Thoughts on acquiring a lake house in the Lakes Region

For many individuals the thought of owning a lake home is a dream. For others …

Read More →
Interest rates rising

Interest rates are rising – but there’s no need for alarm.

Interest rates are rising, but we are still in a low-interest rate environment. Here’s a …

Read More →
Real Estate Challenge? Set Big Goals

Overcoming seemingly impossible real estate challenges


Inspiration from a story about a single mother from Little Rock, Arkansas, on overcoming seemingly …

Read More →
Real estate appraisal

Deferred maintenance can postpone sales

Be honest… is your home in need of some repairs? Because if you ever want …

Read More →
56 Daniel Webster Hwy Meredith

56 Daniel Webster Highway: a great spot for catching attention and customers

A glimpse into the interesting history of the commercial real estate for sale at 56 …

Read More →
playing cards in a seller's real estate market

Buying smart in a seller’s market

Homebuyer beware: it’s a seller’s market in the Lake Region. You’ve got to shop smart …

Read More →
Rocks and Sand

Buying or selling, put first things first

For many of us, a home is the most expensive and valuable asset we will …

Read More →
Post and Beam Home

Post and Beam: A Homeowner’s Dream

Post and Beam 101—Post and beam construction is just what it sounds like: a heavy …

Read More →

Leave a Comment