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Market Insights

Spring/Summer Seacoast Market Stays Hot

SEACOAST REAL ESTATE RALLY SURGES THROUGH JUNE
by John W. Rice, Broker

PORTSMOUTH---Thanks to the best single-family sales volume in 26 months, the current residential real estate rally in the 13-Sample Seacoast Towns registered an impressive June.

 


The 13 Sample Seacoast Towns are Exeter, Greenland, Hampton, Hampton Falls, New Castle, Newfields, Newington, North Hampton, Newmarket, Portsmouth, Rye, Seabrook and Stratham.

 


It was the best month ever for homes priced in the $400,000-$700,000 bracket with 70 transactions, twenty-four more than sales priced less than $400,000. The month was 5.3% ahead of June 2018 and an impressive 37.6% ahead of last month, which had been the best for the year to date.

 


The June monthly median sale price of $480,000 was well off the yearly high of $586,750 set in January and 7.3% behind May. For the first six months of the year sales are up 10.3% and the median sale price is up 6.7% at $450,000.

 


On the condominium side, the report is less robust. The monthly median sale price was $6,400 off last month's six-month high at $373,500. There were 68 sales, five less than last year, but three more than last month. For the first six months of the year, sales are now off 11.2%, but the median sale price is up 7.2% at $339,900.


All in all an amazing month for Seacoast real estate.


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