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Market Insights

Seacoast single family sales log 4th straight monthly gain

By John W. Rice, President, Seacoast Board of REALTORS 

NEWINGTON, May 1, 2008--With the spring market now in full swing, New Hampshire seacoast single-family home sales logged a fourth straight "up" month in April, rising 29% from March to finish virtually even with 2007 numbers.

            "This is, indeed, a surprisingly good showing," said Seacoast Board of REALTORS President John Rice. "Especially in the wake of the negative financial news we hear and the general economical climate."

            To be sure, April pending sales fell 9% from March, but the 40 closed transactions logged in the nine-sample seacoast towns were the most since November. Available housing stock also rose 13.8% to 478 single-family units, the most since October.

            Of the 40-recorded single-family sales, 24 were for less than $400,000 and only two exceeded $700,000.

            Meanwhile Condo listings were up just 1% although this number is also the most since November. Condo pendings were virtually even with last month, but sales jumped a robust 83% from March. The 33 closed April condo sales represented a disappointing decline of 21% from April 2007. 

            The condo sales action was, like the single-family side, mostly below $300,000. There were 21 sales in that category and 12 between $300,000 and $600,000. None exceeded $600,000.

            "The numbers are still a bit of a mixed bag," Rice observed. "But there are ‘victories' here and there."


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