Rye New Hampshire Real Estate Market Update - November 2008 (LOCALISM FEATURED)

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Real Estate Agent with RE/MAX By The Bay - NH and Maine NH and Maine Broker

 Rye NH Real Estate Market Update - Rye New Hampshire Homes for November 2008

Rye NH Real Estate - Ordiorne State Park - Ann Cummings Copyright 2008
Rye New Hampshire
is a lovely slice of NH beauty right along the coastline.  Rye has rocky coastline and sandy beaches, as well as beautiful inland areas.  We have some gorgeouse new construction and newer homes right alongside antique farmhouses, and we have seasonal cottages, too.

The real estate market in Rye NH has been like many other NH and Maine Seacoast towns here in this area, up and down.  Like everywhere else, everyone always wants to know how the real estate market is, here in Rye and all along the Seacoast areas.  Real estate impacts so many facets of the local economy, and many use that as a gauge for how things are now and where they might be going in the near future.

Rye NH homes real estate market for the month of November:

Rye currently has 63 homes for sale through the Multiple Listing Service (MLS), and 5 of those homes were new to the market in November.  The average asking price is $1,191,994, and the average days on the market for those homes for sale has been 231 days.

During the month of November, we saw 2 Rye NH homes go sale pending/under agreement.  The average asking price of those homes was $342,950, and the average days on the market was 48 days for those homes.

Four homes in Rye sold/closed during November, and the average selling price of those homes that sold was $526,175, with the average total days on the market for those homes being 56 days.  Those sellers who sold their homes in Rye during November received 96% of their last asking prices

We saw 9 homes in Rye expire from the market without sellingThe main reason homes don't sell during their listing period is they were priced incorrectly for the market and/or condition of the home.  And most likely, these 9 homes didn't sell because they weren't priced correctly, and buyers didn't see them as a good value for the money.


If you're thinking about selling your home, one very important fact to know about your market is the absorption rate.  The absorption rate will tell you how long it will take for the current inventory of homes in Rye NH to be absorbed by the market if no other homes come on the market.  The absorption rate for November 2008 was just under 11 months, which is a little higher than October and a little less than September.  If you want your home sold, you need to know this number to help you price your home accordingly.

   Rye NH Homes - Rye New Hampshire Real Estate - Ann Cummings NH REALTOR  Rye NH Homes - Rye New Hampshire Real Estate - Ann Cummings NH REALTOR

Are you thinking about making Rye New Hampshire or any of the surrounding Seacoast areas your home?  Call me today at 888-349-5678 x 3839, or send me an email at ann@anncummings.com, and let's talk real estate!

 

Related Reading:

Seacoast New Hampshire Real Estate Market Reports
Absorption Rates and Why They're Important to Know

  • Pricing Your Seacoast NH Homes and Condos Correctly for Todays Market
  • Pricing Your Home To Sell

    Search New Hampshire and Maine Homes Condos For Sale   Portsmouth NH Area Real Estate Market Reports
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  • -- Servicing the New Hampshire Seacoast towns of - Portsmouth, Newcastle, Rye, North Hampton, Hampton, Stratham, Exeter, Greenland, Newington, Dover, and surrounding areas.
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    Ambassador
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    George Souto
    George Souto NMLS #65149 FHA, CHFA, VA Mortgages Connecticut - Middletown, CT
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    Ann very nice job on the market report, it was easy to understand even for me :)

    Hope the bounces that the market has been taking start to bounce upward more than downward in 2009

    Dec 21, 2008 06:31 PM #6
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    Jennifer Fivelsdal
    JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
    Mid Hudson Valley real estate connection

    Ann that scene by the water is rather inviting and Rye looks like a wonderful place to live.  Your market reports are always exceptional.

    Dec 21, 2008 11:17 PM #7
    Anonymous
    Anonymous

    Ann, when I visit can we go have a picnic on that table??? I LOVE that photo!

    Dec 22, 2008 04:45 AM #8
    Rainmaker
    223,537
    Brien Berard
    Remax Professionals Laurel MD - Laurel, MD
    Maryland Real Estate Agents - Laurel Real Estate

    I gotta get me some of those cute little buttons you have at the end of your blog.  May I ask, where did you get them?

    Dec 22, 2008 05:37 AM #9
    Anonymous
    Jim Morrison, Home Authority of Massachusetts

    Hi Ann

    As a former NH resident who lived in the lovely little town of Bedford, I often miss NH. I now live in the oceanfront town of Marshfield, MA halfway between Boston and Cape Cod. I've been working fro the past 5 years as a licensed home inspector here in Massachusetts and with a total of 30 years or more in the construction business. Although I occasionally work in NH doing home inspections, I'd like to get up there more often. As you probably already know, being a licensed home inspector in MA takes a fair amount of effort, you have to pass a tough exam, perform 140 supervised inspections just to be able to apply for a license, have liability insurance,and maintain your professional education credits every year. While in the Granite State, all it takes to be a home inspector is a business card. NH may be the "Live free or Die" state, but perhaps MA is the "Be qualified or quit" state. Rye is just a short ride to the Massachusetts border, and if I were choosing between one who is licensed to work in Massachustts with it's tough requirements, and an inspector who can only work in areas that allow unlicensed inspections, well...... I think I know who I'd rather work with on my home purchase. If you, or your clients are looking for qualified inspectors, hiring one who is licensed in Massachusetts will at least get you one who has met strict criteria to be able to work in the field. I assume that you probably already know this Ann.

    I'd like to send you some brochures and discount coupons for your client's use. Don't let the name Massachusetts Home Authority scare you off, because in this case, being from out of state is a good thing. Let me know where to send you these materials. Jim Morrison, (781)363-0499

    Dec 22, 2008 06:07 AM #10
    Ambassador
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    Missy Caulk
    Missy Caulk TEAM - Ann Arbor, MI
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    Anne, I like your buttons. Did you make them yourself or have someone design them?

    Dec 22, 2008 07:02 AM #11
    Rainmaker
    714,038
    Lanre-"THE REAL ESTATE FARMER" Folayan
    Keller Williams Capital Properties-Buy a home in Washington DC. Sell a home in Washington DC - Washington, DC
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    I am curious. Where did you get your buttons for this blog from? Did you do them or somebody did it for you? I need some for my blogs but I dont have a clue on how to add them. Please let me know. Congratulations on your featured post.

    Dec 22, 2008 07:28 AM #12
    Rainer
    288,485
    Diane Aurit
    LKN Realty, LLC - Mooresville, NC
    Lake Norman Real Estate

    Hi Ann, I hope you have recovered from the storms.  I always love seeing your pictures of your charming homes in NH.  What a great place to live and work!  I agree, absorption rate is so very important...right now ours is about 34 months!  Your market is really quite healthy compared to many!

    Dec 22, 2008 07:31 AM #13
    Rainmaker
    574,889
    Neal Bloom
    Keller Williams Properties, Weston FL - Weston, FL
    Realtor CRS-Weston FL Real Estate

    Hi Ann,

    I was wondering when you would be getting a localism feature. You always put out good local content so I am not surprised.

    Dec 22, 2008 07:52 AM #14
    Rainmaker
    188,314
    Audrey June-Forshey
    RE/MAX Realty Services - Darnestown, MD
    GRI, Gaithersburg, MD

    Ann, I love the NE coast.  So beautiful.  I always think every town has such an interesting story to tell.  I don't envy your winters though.  Your readers are fortunate to have someone who shares such great info.

    Dec 22, 2008 07:54 AM #15
    Ambassador
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    ASHEVILLE 1031 PROPERTIES RESOURCES & REFERRALS
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    Ann~ 

    Loved this post and the information. Especially appreciate the wisdom that works no matter where you live: " The main reason homes don't sell during their listing period is they were priced incorrectly for the market and/or condition of the home...".

    Dec 22, 2008 08:11 AM #16
    Rainmaker
    1,422,221
    Charles Stallions
    Charles Stallions Real Estate Services - Pensacola, FL
    800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl.

    What a great way to analysis the market. I am bookmarking this for some ideas in my market. Thanks for sharing and Merry Christmas as well.

    Dec 22, 2008 09:39 AM #17
    Rainmaker
    403,127
    Sonya Loose
    Gladwin MI Real Estate (Homewaters Real Estate) - Gladwin, MI
    Wixom Lake, Secord Lake, Sugar Springs and Smallwo

    Ann, thank you for posting this...very informative and just simple, direct here are the facts!

    Dec 22, 2008 02:47 PM #18
    Ambassador
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    Celeste "SALLY" Cheeseman
    Century 21 Liberty Homes - Mililani, HI
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    This is great 'easy to understand' information on your market and local area. What a beautiful ocean/coastline area!

    Dec 22, 2008 04:32 PM #19
    Rainmaker
    1,575,730
    Laura Cerrano
    Feng Shui Manhattan Long Island - Locust Valley, NY
    Authentic Feng Shui Expert

    Ann, I was in Rye, New Hampshire years ago...it is BEAUTIFUL!  This is a wonderful market analysis, some I can't understand no matter how hard I try.  Congrats on the feature.

    Dec 23, 2008 06:21 PM #20
    Rainmaker
    335,268
    Ann Cummings
    RE/MAX By The Bay - NH and Maine - Portsmouth, NH
    Portsmouth NH Homes - Service With a Smile!

    Hi Everyone - wow, so many comments on one of my market reports!  Thank you all for the feedback on this report, I'm glad so many of you enjoyed this one.  Stats on the market can be boring, so I've played around with formats, etc., and it seems this one is a hit.  I thank you all for reading it and letting me know that it's easy to read and easy to understand.  That's my goal!

    My whole state of NH is beautiful, but I'm so partial to the Seacoast area.  It's even prettier in person than any picture I could ever take.  And I just keep taking more pictures trying to capture the essence of my home areas.

    Thanks again for all the great comments!
    Ann

    Dec 24, 2008 05:59 AM #21
    Rainmaker
    335,268
    Ann Cummings
    RE/MAX By The Bay - NH and Maine - Portsmouth, NH
    Portsmouth NH Homes - Service With a Smile!

    For those who asked about the buttons on my posts - a very good friend of mine made those specifically for me, and I just love them!

    Linda - you bet we can go right to that spot WHEN you get up here for a visit!  it's a deal!

    Neal - thanks, and now I know why this got so much attention.  ;-)  Are my pancakes on the way?

    George - even a Yankees fan enjoyed this one, huh??  ;-)


    Thanks again to all of you - I very much appreciate you reading this post and I enjoyed reading through your comments!
    Ann

    Dec 24, 2008 06:04 AM #22
    Anonymous
    Anonymous

    Howdy there Ann

    Ann

    There sure is a lot of fine looken country here in New Hampshire. Have not seen the sea coastline part of our State as of yet. You put some fine looken photos in your post. I'll have to get over your way, with my lady.

    Thank you, for stopen by my blog to visit.

    to you Ann, and God Bless

    Home InspectionsBaker Home Inspection and Consukting

    Dec 25, 2008 12:57 PM #23
    Rainmaker
    335,268
    Ann Cummings
    RE/MAX By The Bay - NH and Maine - Portsmouth, NH
    Portsmouth NH Homes - Service With a Smile!

    Hi Dale - wow, that's quite a greeting you have there!  You should take a trip over to my area, it really is so beautiful. 

    Merry Christmas to you,
    Ann

    Dec 25, 2008 01:37 PM #24
    Rainmaker
    1,422,221
    Charles Stallions
    Charles Stallions Real Estate Services - Pensacola, FL
    800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl.

    Hi Ann and hope all is well. 60 something homes on the market Wow that doesn't seem like a whole lot to sell.

    Aug 04, 2009 10:17 PM #25
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    Ann Cummings

    Portsmouth NH Homes - Service With a Smile!
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