Not Just Eastman Real Estate Update 09/14/2020

This has been a crazy year with the Covid-19 really changing our market and the lives that we live. There have been more people around this summer and usage of all the amenities is up!! I’ve seen more people on the lake and tennis courts without question!

While locals have known for years just how special a place Eastman is, it’s obvious that many others have discovered Eastman trying to escape Covid in the higher population areas and cities.

The good news for existing owners is property values are up! Inventory is super low, in fact there is currently 1 condo on the market and 6 actual houses (I’m not counting the 5 paper houses Yankee Barn is marketing). With numbers this low, prices have to go up!

Now here are some stats right from the New Hampshire Board of Realtors:

A median price record, while
inventory continues to drop

August was another record month in terms dollars spent on residential housing in New Hampshire. While the unit sales were down slightly compared with August 2019, both the $349,450 median price of those sales and the $800 million total dollar volume were the highest of any single month in the state’s history.

Of note in the NHAR’s August “Monthly Indicators” report:

  • The 2,008 closed residential sales was a 1.4 percent decrease compared with August 2019.
  • Pending sales increased by 31 percent.
  • Months’ supply decreased by 61 percent to 1.5 months, the lowest in at least 15 years.
  • Homes for sales decreased by 58 percent to 2,383 at the end of August. As a point of comparison, there were over 14,500 homes for sale at the end of August 2010.

If you have been thinking about selling, now is the time!!