The supply of homes for sale in Windham New Hampshire is down to 138 in March 2009 vs. 146 a year ago, a 5.5% drop in inventory. The number of sold homes is up by 140% year over year, 12 vs 5 in March 2008. In the first three months of this year 22 single family properties were sold, compared to 18 in Q1 of 2008.
The average list price has declined from $545,000 a year ago to $497,000 in March 2009, a nearly 9% decrease. Prices of sold homes have plumeted to $399,000 this year from $498,000 in March of 2008, a 20% drop in sold house prices in Windham NH. It appears that most of the buying activity is centered in the $370 – 400k range.
The good news is the reduction in the number of months it would take to sell the current inventory at the current 12 / month rate (in March of 2009). Compared to a nearly 30 month supply in March 2008 and a staggering 39.7 month inventory in January of 2009, the current 11.5 months is a relief. The market is considered balanced at a 6 months inventory level, and it is judged to be a buyers market above that threshold.