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Market Insights

Record February sales defies daunting weather

STORMY MONTH CAN'T FREEZE REBOUNDING SEACOAST REAL ESTATE MARKET

by John Rice, Seacoast Board of REALTORS Chief Statistician 

PORTSMOUTH-Those rumors about buyers being out there-regardless--apparently are true. Neither snow nor frigid temperatures nor even more snow could slow down February residential real estate sales in the 13 Sample Seacoast Towns. Not only were the buyers out in force, but they set new monthly records for at least the past five years for both condominium and single family closed sales.

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

According to numbers just released by the Seacoast Board of REALTORs, buyers and their brokers braved the elements to generate 57 single family closings in the month-a 19% improvement over January and a whopping 32.5% better than last year. February was by far the slowest month of 2014, but not this year. Median sale prices did not follow suit, however, dropping 8.8% from last year to $340,000 for the month.

Condominium sales were up 17.8% from last year and median sale prices remained a tad on the upside at $245,000 compared to $242,500 last year.

There were 63 single family and 51 condominium units pending in the month, enough to almost guarantee solid March sales numbers


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