It’s hard to ignore the fact that the real estate market in the Loon area is changing. What are the indications? The amount of quality inventory in the Lincoln-Woodstock area is declining as realistically priced properties are selling, and staying on the market for shorter periods of time. Some properties are starting to sell at or above asking price as it is no longer unusual to receive multiple offers for quality properties. Land listings which have been on the market for well over a year are starting to sell, as buyers are looking to build their own home once again. Demand for larger land parcels is also increasing as developers are looking to get back into the market. Our builder partners are reporting that requests for new construction are starting to filter into their offices at a greater pace than the remodeling requests which they have been living off of the last few years. First time homeowners are back in the hunt for affordable properties, unfortunately for them often competing with investors who are also back in the market, looking to scoop up more low end and distressed properties with the intent to flip them. Lastly, interest rates are still at all time lows and optimistic thinkers believe that lending requirements which have frankly been overly restrictive, may actually be loosening up.
What does all this positive, confidence driven activity mean for real estate buyers and sellers currently active in the market? Inventory will become more scarce, with fewer options for buyers. Prices will start to climb as demand increases and supply decreases. And if interest rates remain low and mortgage restrictions loosen up to become more realistic, both of the above factors will be further exacerbated! That folks, will result in a Seller’s market for the first time in quite a few years. And here in the White Mountains of New Hampshire, timing could not be better as we enter the peak real estate selling season!
Whether you are looking to buy or sell real estate, your best resource is Loon Mountain Real Estate Company, the premier and completely diversified, independent, and uniquely full service Loon Area professional real estate company. Contact us today to find out how we can help you achieve your real estate dreams!