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Market Insights

May sales continue to break records

MAY SALES SET NEW MONTHLY VOLUME RECORD by John Rice

PORTSMOUTH-The Spring market has arrived--and how--on the Seacoast. Sales of residential single family homes and condominium units hit a modern May volume record in the 13 Sample Seacoast Towns.

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


May saw 138 single family sales-the most since last July and 22.1% ahead of last year. The monthly sale price of $430,300 was the highest by far in 2016 and the highest since November's $434,516. For the year the median sale price has reached $400,000, up 6.59% from last year on a total volume of 407 sales. That figure is 13.68% ahead of 2015 as well.


Meanwhile, condominium sales set a monthly volume record for the second straight month, coming in 9.2% in front of last year at 71 units. That was the most sales in a month since last July's 84 units. The activity spurred a monthly median sale price of $261,000, matching the high for the year set in February. Total condo sales are now running an astounding 22.22% ahead of 2015 at 241 units. The cumulative condo median sale price for the first five months of the year reached $245,000-a 10.13% improvement over 2015.


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