February May be the Time to Sell or Buy

February and March may be the moment to sell or buy a home in New Hampshire. The market

remains active. We expect over 1,700 homes to sell in February and March. While levels are

about 25% less than the annual peak, the majority of the market is in tact. And even in peak

months, activity is not guaranteed. This past June 875 homes sold - the same number we

expect in February. Also, while it makes sense things slow down in the cold, seasonal rhythms

don't always align with personal priorities. If now is the time for you, there's a real chance the

right buyer or seller may also be in the market right now. The market behaves in cycles, but it is

possible to make the market work in relation to your rhythms too.

The experience of buying in winter months has its advantages. Principally, there is space.

Homes stay on the market a bit longer (in February we project the average in New Hampshire to

be 50 days). This means the pressure on the process of looking and deciding on a home is

released. The volume of transactions is relatively relaxed, which means the availability of each

party involved in a transaction tends to increase. Lenders, appraisers, title companies,

contractors and real estate agents just have more attention to give. Inventory also tends to

increase more slowly than demand. We don't expect inventory to reach 2 months again until

May, so in essence, there may be more individuals looking at each house available then.

There are also reasons to start the selling process. While yes, the days on market are more, this

won't change significantly (based on historical trends) until June or July. The extra twenty days

now is minimal compared to waiting two or three months to begin. Also, when Spring really

blooms, the competition does as well. This means that the same buyers in the market right now,

will soon have a longer list of homes to choose from. The decision becomes more complex,

and terms of agreement can also tighten. Selling in a down market can result in a simpler and

less volatile road to transaction.

For both parties, pricing of course is central. And in this regard, the New Hampshire market is

unique. We expect prices to increase on average 2.5% per month starting in March. So

naturally, from a buyer's perspective the sooner perhaps the better. And from a seller’s

perspective, the increase is moderate, and the increase is gradual through July should this year

pan out as others. Selling in a slow market, where prices are moderated, presents the

opportunity to buy in the same market. While selling at peak, could put you as a buyer in the

same peak market. Also, in individual cities within New Hampshire, like Concord, Manchester

and Keene, the variation of prices between seasons is less, if noticeable at all.

This information is simply to add context to what tends to be an oversimplified conclusion that

buying or selling in Spring, Summer or Fall is preferable. The market is in relation to you, your

situation, your priorities. And while noticeably distinct, the Winter market does hold the

necessary ingredients for a positive experience - and in some regards, even offers preferable

conditions to that of warmer months. The key is finding the right person who is looking to buy,

or the right home which is looking for an owner, and either of those may be in the market today.

Starting the process can help get one situated, available, and one way or another, Spring is

coming soon.