Over the course of the last year, the housing market has undergone some surprising changes as a result of the pandemic. Some home buyers have opted to embrace remote work, while others have relocated out of cities and to less densely-populated regions. It’s led to growth in some unexpected parts of the country, though whether that flow of people will remain or dwindle in the coming months remains to be seen.
A new article by Libertina Brandt at Business Insider explores the town that’s become an unexpected real estate hotspot in the last year. One might even say that what’s happening in Vegas isn’t necessarily staying in Vegas. Note, though, that we’re not talking about Las Vegas here. Rather, this is all about ManchVegas — one of the nicknames for the low-key college town of Manchester, New Hampshire.
As Brandt writes, a new report at Realtor.com has named Manchester the nation’s hottest housing market. Real estate broker Jeff Nyhan told Buisness Insider, “If you have a home in the $300,000 to $400,000 range right now in the greater Manchester area, it’s out the door as soon as you list it.”https://www.yahoo.com/lifestyle/why-little-england-town-suddenly-181439554.html
Local Award Winning Realtor, Jim Cardello added some of his thoughts on the Manchester area real estate market.
Manchester home prices have increased almost 20% in the past 12 months. Time on the market has reduced significantly to less than 8 days and many times in 24 hours. Homes in this market are receiving multiple offers, often 10% over asking price and even more in some cases. There has been an increased demand by out of state buyers seeing value in the property here combined with the perception of being a safer place to live from the Coronavirus.
I experienced this directly while listing and selling 40 condos in a new subdivision over the past 14 months where prices began at $309k and are now at $384,900 for very similar units.
- Jim Cardello The Home Team https://homes4saleinnh.net/