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Market Insights

Third straight record month on Seacoast

by John W. Rice

PORTSMOUTH-Sales of single family residential and condominium units in the 13 Sample Seacoast Towns set yet another monthly record 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.
It was the third straight month that single family sales have set a monthly record and the second in a row for condominium units. Both single family and condominium sales enjoyed the strongest second quarter in at least the past four years.
The 134 closed single family sales in June were five more than last year and up 18.5% over last month. The monthly median sale price came in at $397,000 off 3.7% from last month's annual high of $412,000. The 493 total single family sales for the year is up 3.7% over 2014. The cumulative median sale price reached $384,000, up 8.78%.
There were 75 condominium sales last month, outpacing last year by 29.3%. Condo prices also tied the highest monthly median for the year at $245,000, a number also reached in February. That figure is up 11.3% from last month but off 4.6% from last year. Cumulatively, for the year condo prices are basically flat at $233,875, up a statistically insignificant .48%. Also for the year, condominium sales are up 14.4% on 270 transactions.

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