Location may be everything in real estate, but so is timing. Listing a home in the dead of winter, when movers have to deal with snow drifts and bad roads, is never a good idea. You need to take into account seasonal fluctuations in demand that are region- and state-specific when selling your home.
Listing during the peak season improves your chances of selling for top dollar and within a short period of time. Your best bet to time the market is to partner with an experienced, local real estate agent, but this will get you started if you’re trying to sell a house in New Hampshire.
Best Time to Sell in New Hampshire
Now is an excellent time to sell your home in New Hampshire. Home values went up 6.6% in 2018, and are expected to rise another 4.7% in 2019. The median home value is $275,000, so you could have a lot of equity in your home.
The Fed has announced that they won’t raise interest rates in 2019. A rate hike impacts housing demand because it feeds into mortgage loan interest rates, so this is good news if you want to sell this year. New Hampshire has an extremely low unemployment rate, at 2.4%,
Spring is a great time to sell your home, but only if the snow has all melted! Snowy, wet and muddy front yards don’t increase curb appeal. Use the months leading up to the season to make any indoor repairs, then head outside and tidy up the yard before listing.
After tax refunds have arrived, buyers have more money in their pockets for a down payment. Warmer weather and longer days help with scheduling showings during daylight. One possible downside is that families might not want to move until school is out, and as graduation season arrives you could be dealing with neighborhood parties.
With summer comes higher showing costs of running air conditioning and maintaining your yard. Plus, professionals such as handymen and realtors are busier and people are going on vacation. And it’s always harder to keep your house clean when the kids are home from school.
Homes in Amherst, Bedford, and Londonderry are extremely active in the summer, particularly closer to fall when parents are trying to get kids settled before school starts, because those towns have excellent schools. If your home is in the Lake Region plan on selling and marketing hard between Memorial and Labor Day when tourists could be interested in buying a summer home.
Talk with an agent about the market in your area before spring and summer, plan in advance and have your home ready to list when the timing is right.
Key Factors That Help New Hampshire Homes Sell Faster
Homes in New England are some of the oldest in the country, and buyers look for that charm and appeal. Colonial, Tudors, Victorians, and Federal homes with shutters, intricate moldings and brick, remain ever-popular and remind buyers of the state’s history. Educate the buyer on the reasons to love its uniqueness and you’ll sell it faster.
Another factor is to obtain a deleaded certificate. The housing stock is older in New Hampshire, the average home was built between 40-49 years ago, before many laws against using lead paint in home passed. Families with young children won’t want to take the risk of buying an old home which could expose their children to lead.
If your home is close to the Massachusetts border, that’s a plus. Taxes in New Hampshire are much less than in Massachusetts, as is the cost of living in general. It’s possible to live in New Hampshire but commute down to Massachusetts to Lowell or other nearby cities, and many people do.
3 Tips for Maximizing Your Profits When Selling a Home in New Hampshire
1. Consider Your Specific Market
Hanover, Bedford, and Durham have some of the best school districts in the state. If your home is in an area known for its schools, it will be easier to sell. Focus your marketing on families with school age children, as they’re likely looking in your area.
Als,o look at local employers and industry concentrations. Manchester’s top jobs are in health care, computers, advanced manufacturing, and construction. List companies within a short commute of your house on your listing sheet to attract buyers who work for them.
Get an accurate evaluation, called a Current Market Analysis, to help you set an optimal listing price. The CMA analyzes current market conditions, including the performance of other similar properties in your area. This includes their listing price, any price reductions, how long they sat on the market, and their eventual sale price.
2. Make Impactful Repairs and Renovations
You don’t need to gut the house from top to bottom, but a few small repairs and renovations can help it sell faster. Flooring is a sign of how well a home has been maintained. Refinish or polish your hardwood, and clean or replace carpets that might have been ruined by winter’s snow and mud.
Attachment to your house can blind you to its flaws. Work with an agent who can look at your home dispassionately and make recommendations, and be willing to take their advice. You will want to carefully balance the return on investment for any repairs.
Unless they are absolutely necessary to sell the home, such as a leaking septic tank, you’ll want to make sure that their impact on the home’s final selling price outweighs the cost of the repair. To learn more, read about 6 High-Value, Low-Cost Repairs for Home Sellers.
3. Find a Great Real Estate Agent
A great real estate agent can guide you through the entire home selling process. Timing the market is key, but there is more to selling home quickly than listing it during the right month. An agent can help you prioritize repairs, pick a listing price that’s profitable and sellable, and uncover cost-saving opportunities.
Clever Partner Agents are all top-rated in their local markets, and drawn from major brands and brokerages such as Keller Williams and Century 21. They offer full-service and the same level of support but for lower commissions or a flat fee.
Fill out the online form, a Clever rep will be in touch to answer questions and connect you with a local Partner Agent for a no-obligation consultation to help you sell your home in New Hampshire.