The Hudson, NH real estate 2009 activity indicates that the housing market continues to decline. Values for condos and homes dropped to four year lows with the activity concentrated in the entry level. Single family home sales improved slightly however the condo market continued to report lower prices and fewer transactions. The tax credit incentives offered by the stimulus package contributed to a flurry of sales at the entry level but overall did not have a major impact on the market. Historically low interest rates provided buyers with additional incentives. In addition, values in nearby Nashua dropped substantially and buyers preferred this community for location, accessibility, school systems and city infra-structure.

The move-up buyer, downsizers, new construction and relocation activity came to a standstill due to the recession. The market will not stabilize until these segments of the market become active and consumer confidence improves. Buyers continue to be hesitant to purchase as they believe values will continue to decline.

Single Family Homes

The Hudson, NH homes sold in 2009 indicates a -4% decline in value with a 12% increase in units sold. The average sales price dropped to $268,124 $279,907 in 2008. The highest average selling prices in the last four years was reported in 2006 at $330,454. In 2009,there were 161 homes sold as compared to 144 in 2008. As a peak benchmark, there were 177 homes sold in 2006. The average days on market climbed from 91 in 2008 to 99 DOM in 2009. The single family home market showed more strength as compared to condos as prices became more affordable and financing options were more available.

Condominiums

The Hudson condo activity in 2009 showed an increase in sales and -15% decline in values from 2008. There were 87 units sold in 2009 as compared to 83 in 2008. The foreclosure inventory had a major impact on values as a substantial volume of sub-prime mortgages were concentrated in the condo area. The average sales price dropped from $222,431 to $187,004 as financing of condo projects by FHA was the major factor. The highest values in the past four years was obtained in 2007 with a value of $239,879. Condo developments without FHA approval reduced the number of qualified buyers as higher downpayments and credit scores are required.

Town of Hudson

Hudson, New Hampshire is a town of approximately 25,000 on the Massachusetts border. It features a mix of residential neighborhoods alongside commercial and industrial development, with some small retail plazas and several high-tech companies. The community offers a strong business climate, good schools, and a central location near the cities of Boston, Nashua, Manchester, the state’s Atlantic Ocean coast, the scenic sprawl of the Lakes Region and the snowy peaks of the White Mountains.

Originally settled as part of the Dunstable land grant in 1732, the community was incorporated as “Nottingham West”. In order to avoid confusion with the older community of Nottingham, New Hampshire, the town was renamed “Hudson” in 1830; the origin of the new name remains unclear. For most of its early years the community remained rural and agricultural in nature, although it grew substantially after World War II,. Like many communities in the Nashua region, Hudson is experiencing steady population and economic growth with a number of large and smaller businesses, including BAE Systems, Teledyne, Sam’s Club, Wal-Mart, and Telegraph Publishing. It also has a number of small shopping centers.

Information for the Hudson NH real estate 2009 report was obtained from the NH MLS (NNEREN). The information was compiled by Virtual Homes Real Estate and is not guaranteed to be accurate.

Author Bio: Fred Doleac, Broker/Owner for Virtual Homes Real Estate providing residential services for New Hampshire, Massachusetts, Rhode Island and CT. Relocation,short sales, home buying and selling services. Visit Hudson New Hampshire Real Estate for a graphical representation and four year trend analysis of average selling prices and units sold.

Category: Real Estate
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