Real estate heats up around the county
“The new construction has watered things down,” says John Holbrook of Berkshire Hathaway HomeServices Chaplin Williams Realty, which is still owned by Dee Chaplin and Hugh Williams. However, there is some urgency. Mortgage rates have clicked up a few notches recently, as the economy has improved. Also, some buyers are acting now before prices might rise, as the inventory of existing homes and condominiums is only at 780 throughout the county. (The inventory was running around 1,400 three years ago.)
“What I’m seeing is the tightened inventory has really kept the market moving along,” says Holbrook.
In a new neighborhood near popular North Hampton, national builder D.R. Horton has 125 house lots under contract. Prices will begin at $175,000 for houses that are 1,800 square feet in size – quite reasonable for a new home these days.