President of the Upper Valley Board of Realtors on Local Real Estate Trends
Q: Is it a buyers’ or a sellers’ market right now in the Upper Valley?
A: The market appears to be tilting toward a sellers’ market, although it is still in a bit of a flux and not really either. Meaning that in a true buyers’ market, houses are not selling quickly, and the buyer is able to make demands that they may not be able to at other times. In a true sellers’ market, homes are selling quickly, and the seller is at an advantage.
Q: How long, on average, are homes staying on the market?
A: 171 days.
Q: What is the average sale price in the region?
Q: What features in a home are trending with buyers—open concept, master suite, for example?
A: A master suite with bath and sitting room is a trend now, and open concept is still on most buyers’ lists. Stone is still very popular for kitchen and bathroom counter tops—granite, marble, and quartz (right now, quartz has a slight lead over granite). Large bathrooms are wanted, even in smaller homes.
Q: What advice do you have for sellers?
A: If you want top dollar for your home, declutter, spruce up the inside and outside (if you do not have the know-how or the time, hire a professional). Make your home look so good you want to stay.
(Check out our latest [Special Edition] Trend Watch 2017 for a few sprucing tips.)
Q: How about advice for buyers?
A: You are buying a house; you will make it a home. Make a list of the things that are most important to you and share it with your Real Estate Agent. To both buyers and sellers, find a Real Estate Agent you like and stick with him or her. Let your agent know what your needs are and what you expect; agent-hopping gives the consumer a disadvantage when he or she is ready to make an offer.
Q: Anything else you’d like to add about Upper Valley real estate trends?
A: We are in a very unique area here in the Upper Valley. We do not see the huge spikes or drops in pricing that many areas experience. The values are strong and tend to be sustainable. If you are coming from an area of the country with higher or lower pricing, get over the sticker shock fast, talk to your lender, and get serious about finding your new property.