I have been tracking the Keene, NH real estate market for several months now to see if there is any indication of positive changes taking place in the market. I've been looking for a continuous trend and looking at average days on market, average listing price to selling price, and also comparing from month to month the percent of homes that are pending vs. active on the market.
Here's what I'm finding.
Listing inventory comparing pending vs. active:
This month, Keene's residential listing inventory is huge, but the good news is that 38% of the market is under contract at this time. Last month, 30% of the Keene residential listing market was under contract and the month prior it was 25%.
Listing price vs. Selling price
The average days on the market (using Keene's pending listing inventory) is 120 days.
The current average listing price of the pending listing inventory is $214,000. This is up from last month when the average listing price for pendng listings was $197,000 and the average selling price was $185,000. I have no way yet to tell what this month's average selling price is but it appears that higher priced listings are selling sooner.
Active listings (that are not in pending status yet) have an average list price of $227,000.
Overall listings are selling in 4-5 months. This has not changed during the past 3 months as more listings have come on the market.
For what it's worth, these are only statistics. I enjoy watching trends by reviewing statistics though I don't allow it to weigh in at 100% due to so many other contributing factors.
Thanks for reading!
*image from Patrick Rooney