Concord
Nashua
Dover
Rochester
Closing Conducted by: | Attorneys |
Conveyance: | Warranty or Quitclaim Deed |
Primary Foreclosure Method: | Non-Judicial |
Process Period: | 2 - 3 Months |
Notice of Sale: | Trustee |
Redemption Period: | None |
Income Tax: | 5.00% |
Corporate Tax: | 8.50% |
Sales Tax: | None |
Estate Tax: | No |
Inheritance Tax: | No |
Median Property Tax: | 1.86% |
Property Taxes by County: | http://www.tax-rates.org/new_hampshire/property-tax#Counties |
Closing Cost: | $2,641.00 |
Transfer Fee: | 1.50% |
Origination Fee: | $1,975.00 |
Median Home Value: $309,709
1-Year Appreciation Rate: +7.5%
Median Home Value (1-Year Forecast): +7.6%
Median Rent Price: $1,700
Price-To-Rent Ratio: 15.18
Average Days On Market: 72
Unemployment Rate: 6.0% (latest estimate by the Bureau Of Labor Statistics)
Population: 1,356,458 (latest estimate by the U.S. Census Bureau)
Median Household Income: $74,057 (latest estimate by the U.S. Census Bureau)
Percentage Of Vacant Homes: 15.46%
Foreclosure Rate: 1 in every 25,105 (0.3%)
Coos: (1 in every 10,746)
Merrimack: (1 in every 12,890)
Cheshire: (1 in every 17,652)
Strafford: (1 in every 17,703)
Carroll: (1 in every 20,365)
Tax Lien or Deed: Tax Deed state
Interest Rate: Property owner must pay the state 18% to redeem lien or risk losing property to foreclosure
Redemption Period: Total of 5 years
Rochester may receive added attention: As one of the largest cities in the New Hampshire real estate market, Rochester already has a fair amount of demand. However, as the cheaper alternative to large cities like Dover, Nashua, and the state’s capital (Concord), Rochester could easily see an influx of buyers in search of lower home prices. Priced nearly $65,000 less than the median home value in New Hampshire, the median home value in Rochester is a welcome sight to budget-conscious buyers. As a result, it’s reasonable to assume more buyers will turn to Rochester in the coming year.
Inventory will drive appreciation: Prices in the New Hampshire real estate market have increased for eight consecutive years. While the driving force behind the latest bought of appreciation may be attributed to several factors, a distinct lack of inventory is perhaps the most prominent reason prices have risen so much. The Coronavirus has also prevented builders from adding to inventory, which only compounds the inventory shortage. As a result, expect prices to increase for the foreseeable future.