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Working in real estate, we always get asked multiple questions in regards to the sales prices versus the assessed values of homes. Some questions we often hear include, 'What does the tax evaluation mean to my home? What does it have to do with the purchase and listing price? What does this mean in regards to how much my home is worth? How do I take all of this information into consideration?' And so on.
To help answer these questions, we crunched data from NEREN in order to compile the information below which shows the difference in actual sales price versus tax evaluation in the 5 key markets of Rockingham County. As you can see from the list, depending on the town, house size, and upgrades, there can be a huge price difference in homes.
Between 2014 and 2016, North Hampton has had a large amount of activity in both buying and selling and over 50 homes sold within a 2 year period. Below, you can see the differences between the assessed total value and the sale price at time of closing. With 35 homes sold in 2015 compared to only 11 in 2014, there has been a major increase in buying and selling real estate. As of May 2016, 2 homes have been sold, both with a higher sale price than the total assessed value.
Take a look below to see how home sales have been broken down, starting with sales in 2016 and finishing with sales from 2014.
Although some listings sold for less than the assessed value, the majority of houses sold included an increase in the assessed value total, creating a profit. For North Hampton, there was, on average, an 8.71% increase in the sales price versus the assessed value of homes.
With a small town feel and comfortable atmosphere, Newington has had a variety of sales ranging between 2005 to current. The most accurate depiction of assessed total value and sale price at time of closing can be viewed for 2014 & 2015.
One of New Hampshire's most up and coming cities, Portsmouth has had an immeasurable amount of home sales. As of April, there have already been 15 homes sold, with an even more extensive list for 2015. Take a look:
Regarded as one of the most underrated American cities, Portsmouth is a place always buzzing with life. With tourists visiting year round, endless restaurants, as well as shops and boutiques surrounding Market Square, there are numerous activities for people to keep themselves busy. Nestled closely to Kittery in Maine, Portsmouth is an energetic atmosphere that has proved to be an amazing place to live.
Rye, known for having the longest stretch of coastline of any New Hampshire coastal town, is home to the Isles of Shoals, which lies 10 miles off of the Rye shorelines. A beautiful location in the summer, Rye includes Odiorne Point, the largest undeveloped stretch of shore on New Hampshire's coast. A popular place to live based off of its beautiful location and scenery, Rye also has many eateries that attract people from near and far.
West of the Squamscott River, Stratham is home to Great Bay Community College. Property in Stratham will always be in demand, whether it's from students who need a place to rent while earning their degree, or families who love the area. Stratham is also perfect for mountain bikers and hikers. The Stratham Hill Park along with the nearby Gordon Barker Town Forest create combined trail systems, providing some of the best local trails around. For those hot summer days, the Wright Place For Ice Cream is the place to go!