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Market Insights

Despite strong month, sales lag behind 2016


by John Rice, SBR Chief Statistician 

PORTSMOUTH-June sales of single family homes in the 13 Sample Seacoast Towns reached the highest monthly volume level since June 2016, 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.

While the 139 sales represented a 12-month high, the number was off 7.9% from a year ago, driven at least in part by a 19% decrease in available inventory. Meanwhile, homes priced between $400,000-$700,000 easily outpaced other price brackets, setting at least a 2-year record with 65 transactions. That sparked a monthly median sale price of $447,000, highest since last November.

Condominium sales equaled last month's 68 units, even though available inventory is off by 22% from a year ago. The monthly median sale price was $293,500, highest since March's $393,450. The median monthly price of a condo is up 15% from a year ago. Total sales volume, while equal to last month dipped 4.2% from June 2016.

For the first six months of the year, single family sales are off 8.4%, but the median sale price is up 7.4% to $429,750. Condominium sales are actually up a modest 3.9% with the median sale price at $296,000, a solid 18.4% improvement from 2016.

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