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Market Insights

INVENTORY, SALES RISE IN AUGUST RALLY

AUGUST SINGLE FAMILY SALES  #'s MATCH HIGH FOR YEAR

By John W. Rice 

PORTSMOUTH-August sales of single family homes in the 13-Sample Seacoast Towns matched the year's previous monthly high of 131 sales set in June, according to statistics just released by the Seacoast Board of REALTORS.

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

The properties sold at a median price of $510,000, highest since May's $525,000 and some 6.8% ahead of last year's $477,500. Still, sales volume was off 13.8% from a year ago and 8.2% for the first eight months of the year. Mirroring national trends, the cumulative median price for the first eight months is up 8.2% at $475,000.

For the first time since April, Condominium sales exceeded totals from a year ago. The 61 transactions were two better than last year and 10.9% ahead of last month. Still, the median sales price of $292,500 was the lowest since February and off 4% from last year.

Meanwhile, single family inventory continues a steady recovery with 360 units available, most since last September's 370. Condo inventory levels remained the same as last month at 158 units, down seven from last year.

 


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