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Market Insights

November sales slip to eight-month low


by John W. Rice, Broker 

PORTSMOUTH-November sales of single-family residences and condominium units slipped to their lowest levels in eight months in the 13-Sample Seacoast Towns, 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.
Despite the decline, the 69 single family homes sold was three more than last year. But the median sale price for the month fell to $362,000. For the first 11 months of the year, the median sale price is now $370,000, exactly $20,000 more than last year. The 980 total units sold is a 1.9% improvement over 2013.
On the condominium side, the monthly median sales price declined for the fourth straight month to $199,900, while sales volume remained almost the same: 39 units sold last month versus 38 one year ago. The monthly median sale price represents a 12.6% decline from last year. For the first 11 months of the year, the median condo sale price is now $236,500 up a modest 1.7% from last year. Sales volume, though, was up a robust 13.7% for the year.

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