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Market Insights

October another strong seacoast sales month

OCTOBER SEACOAST CONDO SALES HIT NEW MONTHLY HIGH; RESIDENTIAL SALES IMPROVE

By John Rice

PORTSMOUTH-October sales of single-family condominium residences in the 13 Sample Seacoast towns hit a robust, new monthly high for 2014. Single family sales also improved 15.7% from October 2013.

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

The 71 condominium units sold was 86.8% higher than last year and 24.5% better than last month. The sold units bested the 2014 previous monthly high by six sales. The units transferred at a median monthly sale price of $241,500, a drop of 3.4% from last month. That figure is a substantial decline from the median sale price of $273,500 recorded in October 2013 which was also the annual high.

Meanwhile, single family sales were up 18.3% from last month at 103 units, far from the annual high of 147 units set in July. Like condos, the monthly median sale price cooled but declined a modest 2.9% from 2013 to $388,000. Still that monthly figure is a 3.4% improvement from last month and second only to the monthly high of $409,950 also set in July.

For the year, single family cumulative sales are up 1.7% and the median sale price reaches $370,000, up 5.4% from 2013. Cumulative condo sales through October are up an impressive 14.9% over 2013 while prices have appreciated 3.2% to a median of $239,950.


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