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Market Insights

Another record month for Seacoast

MAY SEACOAST REAL ESTATE SALES CONTINUE APRIL'S RECORD PACE

By John Rice

PORTSMOUTH-May residential and condominium real estate sales in the 13-Sample Seacoast Towns logged the best totals since last July, dwarfing April's record totals. In fact the numbers represent the best May for real estate sales in at least five years. Along the way, single family monthly median sale prices reached their highest level in 17 months.


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


The 113 residential sales are a 43% jump from last month and 25.5% improvement from last year. The monthly median sales price of $412,000 is a new record for at least the last five years. It was the fourth straight month that median sale prices have improved.


Meanwhile the 64 condominium sales were also the most since last July, although prices drifted slightly lower to a monthly median of $220,000. Condominium monthly median sale prices have been as high as $245,000 (February) but are virtually unchanged in the last three months. Sales were up 28.5% from last year and a huge 106.4% from last month.


With the spring sales surge, total annual single-family volume for the first five months of the year is up 3.7% on 359 transactions and the median sale price is up 9.63% at $375,500. Condominium sales are up 8.9% for the year-to-date but median sale price is off 3.4% at $220,000.


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