John Rice - Tate & Foss - Sotheby's John Rice

Market Insights

October another record month for home sales

by John Rice 

PORTSMOUTH-Volume of single family home sales set a new October record for at least the last five years in the 13-Sample Seacoast Towns, according to 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.

The 115 October residential closings snapped a two-month, month over month losing streak as October came in nine sales ahead of September and 10.5% ahead of last year's 104 transactions. The median sale price for the month was $365,000, a surprising drop of 5.31% from last year.

It was an off month for residential condo sales, however, although sales almost flat-lined from September. October registered 58 closings, off 17% from last year, but only three sales less than last month. The median sale price slipped to $220,250, off 11.27% from last year and off 14.2% from the monthly high for the year, $251,750 set in July.

For the year, residential sales are up 9.29% from 2014 and the cumulative median sale price of $395,000 is 6.68% ahead of last year. Total condominium sales through October are 11.5% ahead of 2014 although the median sale price of $241,000 is virtually the same as last year's 240,000.


© 2019 John Rice . All Rights Reserved