Here are some real estate metrics! Whether you're a buyer or a seller, understanding these numbers can give you a powerful advantage in the market. 

First up, we have the Months Supply of Inventory, which currently stands at 3.69. This metric represents the number of months it would take to sell all the homes on the market, assuming no new listings come in. A lower number suggests a seller's market, where demand exceeds supply, causing prices to potentially rise. In our case, 3.69 months indicates a fairly balanced market, where both buyers and sellers have room to maneuver.

Now, let's take a look at the 12-Month Change in Months of Inventory, which has seen a whopping increase of 64.73%. This significant jump indicates that the market has become more favorable for buyers over the past year. With more inventory available, buyers have more options to choose from, potentially leading to increased negotiation power and lower prices.

Moving on, we have the Median Days Homes are On the Market, which currently stands at just 8 days. This metric represents the average number of days it takes for a home to be sold. A lower number here suggests a fast-paced market, with homes flying off the shelves in no time. In our case, 8 days indicates a high demand for properties, making it crucial for buyers to act swiftly if they find a home they love.

Now, let's talk about the List to Sold Price Percentage, which currently sits at an impressive 99.7%. This percentage represents the ratio between the original listing price and the final sold price of a property. A higher percentage suggests that homes are selling very close to their initial asking prices, indicating a strong market and potentially limited room for negotiation. With a 99.7% List to Sold Price Percentage, sellers can feel confident that their homes are fetching top dollar.

Finally, we have the Median Sold Price, which currently stands at $560,000. This metric represents the middle point of all the sold prices in a given area. For sellers, a higher median sold price is great news, indicating that they have the potential to fetch a higher price for their own property. On the other hand, buyers should be prepared for competitive pricing and potentially need to adjust their budgets accordingly.

Now that we've explored these real estate metrics, it's clear that the market is in a unique state. With a balanced supply and demand, buyers have more options than before. The increase in inventory over the past year gives buyers a chance to find their dream home without feeling rushed. However, the low Median Days Homes are On the Market indicates that the competition is fierce, and buyers need to act quickly.

Sellers, you're in luck as well! With the List to Sold Price Percentage at an impressive 99.7%, you can feel confident that you have a strong chance of selling your property near your desired price. And with the Median Sold Price sitting at $560,000, it's clear that the market is favoring sellers, potentially allowing you to make a tidy profit.

So, whether you're a buyer or a seller, these real estate metrics provide valuable insight into the market's current state. Stay informed, be proactive, and remember to adapt your strategies accordingly. Happy buying and selling!

The town of Madison is going on the offensive against STRs (short term rentals) that started renting after March 2022 when voters passed a warrant article saying residential homes could not be used as short term rentals.  It's a very interesting decision considering the NH Supreme Court's recent decision that said short term rentals are an acceptable residential use in Conway.  Click here for the full story

If you want a development that does not allow short term rentals, here are some places to look:

• Bartlett Place in Bartlett (60 day min)
• Cranmore Woods in North Conway
• Saco Woods in Conway
• Mount Cranmore condos in North Conway (they limit to 5 rentals per year)
• Northface in North Conway (30 day minimum)
• Partridge Woods in Bartlett (30 day minimum)
• Black Mountain Meadows in Jackson

Quick market stats posted on 5/16.  Check them out and let me know if you have any questions :) 

Click here to see a copy of the ruling

On Tuesday, May 2, the New Hampshire Supreme Court ruled in favor of short-term rental owner Scott Kudrick, allowing owners to continue renting properties, at least until the town of Conway decides to regulate them. The case centered on whether non-owner-occupied short-term rentals are permitted in residential districts under the Conway Zoning Ordinance. In January 2022, a county superior court judge ruled that short-term rentals fit within the definition of "residential dwelling unit" and did not need to be owner-occupied in residential zones. The recent New Hampshire Supreme Court ruling upheld this decision, stating that the language of Conway's ordinance did not clearly address short-term rentals and that it was up to the legislature and municipal authorities, not the courts, to consider any policy concerns related to short-term rentals. The town of Conway had previously filed for a declaratory judgment against Kudrick, arguing that "living as a household" required a level of stability in occupying a residential dwelling unit, but the court disagreed. The recent town vote to change a definition central to the case is also unclear in terms of its implications for short-term rentals. The town has been moving toward regulating short-term rentals in commercial zones for several months and has approved funds to expand the building department to allow licensing of short-term rentals and inspections of property.

Franconia's new STR license will require a safety inspection for approval.  This seems like a good idea as there are so many properties in the area that have bedrooms without egress, decks without railings and inadequate smoke detectors but I wonder why many towns do not inspect properties offered for long term rental.

I recently saw a new vacation rental posting.  Scrolling through the pictures, I saw a couple of bedrooms without proper egress.  Unfortunately, this is not something that is monitored or enforced around North Conway, so it puts the burden of care on owners.

When planning a vacation rental, it's essential to consider the safety of your guests. One area that often gets overlooked is egress from bedrooms. Egress refers to the ability to exit a room in the case of an emergency, and it's crucial to ensure that guests can do so safely and quickly.

Here are a few reasons why egress from bedrooms in a vacation rental is so important:

1. Emergency situations can happen at any time No one plans for an emergency, but they can happen at any time. From a fire to a medical emergency, guests need to be able to exit their bedrooms quickly and safely. If egress is obstructed or difficult to navigate, guests may be trapped in the event of an emergency.

2. It's a legal requirement In many places, it's a legal requirement to provide safe and accessible egress from bedrooms. Building codes dictate the size and placement of windows and doors to ensure that occupants can exit the building in case of an emergency. As a vacation rental owner, it's your responsibility to ensure that your property complies with local building codes.

3. It gives guests peace of mind When guests stay in a vacation rental, they want to feel safe and secure. Knowing that they can exit their bedrooms quickly and easily in an emergency can give them peace of mind and help them relax during their stay.

So, what can you do to ensure safe egress from bedrooms in your vacation rental? Here are a few tips:

1. Install smoke detectors and carbon monoxide detectors in each bedroom and throughout the rental property.

2. Ensure that all doors and windows are in good working condition and that guests can open them easily.

3. Provide clear instructions on how to exit the rental property in the case of an emergency.

4. Consider installing emergency lighting in hallways and staircases to guide guests to safety.

5. Regularly inspect and maintain egress points to ensure that they are functioning properly.

Even though it is not enforced, please don't make the mistake of adding extra bedrooms to maximize income while exposing guests to a dangerous situation.

Here is the most recent pending and sold information:

Single Family Homes

• Recently sold in North Conway
• Recently sold in Bartlett
• Recently sold in Jackson

Condo / townhomes

• Recently sold in North Conway
• Recently sold in Bartlett
• Recently sold in Jackson

The North Conway real estate market has seen some significant activity in the past 60 days, with homes selling at a brisk pace and prices continuing to rise. According to recent data, the average selling price for a home in North Conway during this period was $385,722, with an average price per square foot of $267. Additionally, homes in North Conway are moving quickly, with an average days on market of just 29 days.

One interesting aspect of the current market is the fact that there are currently only three homes on the market in North Conway (2/23/23). This scarcity of inventory can be attributed to a number of factors, including high demand, low interest rates, and a robust local economy. With such limited options available, buyers are advised to act quickly when a suitable property becomes available.

Overall, the North Conway real estate market continues to be a strong and competitive space for buyers and sellers alike. With homes selling quickly and prices on the rise, now is a great time to invest in this beautiful and thriving community.

Here is an interactive report showing the comps from this article.

Here are some reports for single family homes and condos sold in Bartlett, North Conway and Jackson:

• Here is a link with recent home sales in North Conway
• Here is a link with recent home sales in Bartlett
• Here is a link with recent home sales in Jackson

• Here is a link with recent condo sales in North Conway
• Here is a link with recent condo sales in Bartlett
• Here is a link with recent condo sales in Jackson