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Market Insights

September 6th straight record breaking month

By John Rice, Seacoast Board of REALTORS Statistician 

PORTSMOUTH-September single family sales in the 13-Sample Seacoast Towns set at least a five-year volume record, keeping intact a six-month streak of record breaking sales months.

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

Condominium volume also enjoyed a record month, extending a streak of five straight record-shattering months.

To be sure, single family sales were off 15.3% from last month, the second straight month sales have declined from the previous month. But, like last month, sales "retreated" to a new record and exceeded last year by a healthy 19.3%. The first seven months of the year saw unbroken month-over-month volume gains topped by July's 160 sales, the modern record for any month of the year. There were 105 transactions in September.

Meanwhile condominium sales, like single family sales, also "retreated" to a second straight new monthly record of 60 transactions. That's just a sliver ahead of last year's (and last month's) 57 sales, but still a gain. Condo's enjoyed a fifth straight month of record setting finishes including, like single family sales, a modern all-monthly record set in July.

Total single family sales volume is now up 8.76% for the year at 881 sales. The median sales price is $399,000, up 7.83% for the year or .87% per month appreciation. The September median sales price was $405,500, a substantial decline from last month's record $420,000. Still, September was the fourth time this year that the monthly median sales price exceeded $400,000. It is also a 7.6% improvement from last year.

Total condominium volume for the year stands at 471 transactions, up 16.29% from last year. The median sale price of $242,000 is just about the same as last year's $239,900. The September median monthly sale price of $245,000 is the third time this year that median sale price has come in at $245,000. The other months were February and June. The $245,000 represents a 2.6% decline from July's record $251,750 and a 2% decline from last year.

Meanwhile inventory levels remain healthy with only a modest, seasonal decline.


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