Nashua Market Report
November Overview
This report shows an overview of the activity that took place last month compared to November of 2021 by outlining new listings that came on, homes that sold, median days on market, and median price point. It also touches on the absorption rate, which shows how fast homes are selling and indicates whether we are in a Buyers Market or a Sellers Market.
-- November 2021 -- New Listings
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-- November 2021 -- Sold Listings
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-- November 2021 -- Median Price Point
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-- November 2022 -- New Listings
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-- November 2021 -- Sold Listings
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Median Price Point
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What Do The Numbers Mean?
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In the month of November,
Absorption Rate
The Absorption Rate is an metric used to measure the rate at which homes are sold and come off the market. It helps to determine how many months of inventory are currently for sale in the market assuming no other properties were to be listed. In doing so, it indicates whether we are in a Buyers Market or Sellers Market. Generally, an absorption rate above 20% typically signals a seller's market and an absorption rate below 15% is an indicator of a buyer's market.
In the month of November,
Market Outlook
Overall, the next several months will help paint a better picture as to what 2023 will likely look at. Many experts are predicting a market correction over the next year or two, but not necessarily a "crash". One point I would also make clear is much of the mainstream media points out how 2022 has been "much slower" than 2021 as if it has been a surprise, but what we also need to acknowledge is in 2021 we saw the hottest market in history. In my opinion, I don't view that year as an accurate benchmark to soley draw conclusions from since that was simply not a sustainable environment nor was it a healthy market to begin with. Over the next several months and over 2023, we will want to take a look and see how it compares to not only 2021, but the years previous to Covid in 2019.
If you have any questions, please feel free to contact me with any questions in the future. I am here to be a resource to you anytime you need.
Sam Boghigian
(603) 339-2429
Keller Williams Gateway Realty
(603) 883-8400
Each office is independently owned & operated.