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Market Insights

September 2016 Monthly Update

by John Rice

PORTSMOUTH-August sales of residential condominium units in the 13 Sample Seacoast Towns set a new monthly sale price record 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.

The August monthly median sale price of a condo in the 13 Sample Seacoast Towns was $291,700, besting the old record of $282,000 set in August 2014. Monthly sales volume was exactly the same as last year: 57 units, although that was 16.3% better than last month.

Meanwhile, single family sales were some 5.3% ahead of last month, but off 4.8% from last year at 118 units. The August monthly median sale price exactly matched last year's $420,000. It was the fifth time this year that the monthly median sale price exceeded $400,000, but well off the year's high of $430,000.

The cumulative year-to-date residential totals remain ahead of 2015 on 788 total sales (+1.24%) and a monthly median sale price of $405,000 (+1.24%.) Condo sales are up 2.68% through August at 420 units. The cumulative monthly median sale price is $257,900 up a healthy 7.45%.


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