With the January rise in interest rates, there was a sharp and noticeable impact on real estate activity. First time home buyers are particularly challenged as a majority are dependent on financing and even the smallest increase in interest rates can price them out of the market.
Currently, Eastman has a low inventory of property for sale with 39 homes and 11 condominiums on the market. There is an increase on how long a home stays on the market with the average being 322 days. Finally, there is a $49,200 average decrease of the final sale price.
This casts a bit of a shadow and Punxsutawney Phil said there will be six more weeks of winter, but Eastman is looking towards spring and positive change. Interest rates have come down and activity has started to pick up.
If you’re thinking of buying and/ or selling and would like a more in depth conversation on the state of real estate in Eastman, the area, or New Hampshire in general, please text/ call or email me.
I can be reached at 603-568-0609 or jeffadie@gmail.com.