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Market Insights

June seacoast sales register gains

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

PORTSMOUTH-Single-family residential sales registered a fourth straight monthly increase in June as buyers found bargains on the Seacoast. More than 36 of the month's 62 sales were for homes less than $400,000 and 17 of those transactions were for less than $300,000. The 36 sales in this category were the best since June of last year. 

            The other big news came in homes priced at more than $1,000,000. There were eight transactions that closed in June, more than twice any month since last October and matching August 2007 totals.

            Overall pending residential sales dropped 14% for the month.

            "That is typical of the steadier, but slower summer market," said John Rice, president of the Seacoast Board of REALTORS.

            Condominium sales registered a more modest 16.6% gain from May numbers after declining in the previous month.

            Overall inventories of single family and condominium units remained almost unchanged.

            Despite the monthly gains, single-family sales lagged 19.4% behind June 2007 and condominium sales declined 28.2%.

            "Given the continued negative financial news, I think our local market has held up reasonably well," Rice said. "There is activity and business is getting done."


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