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Market Insights

Seacoast condo sales surge

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

PORTSMOUTH-August sales of single-family condominiums surged 41% in the nine sample seacoast towns, according to statistics released by the Seacoast Board of REALTORS. It was the second best month of the year for condo sales and the best finish since April.

            Single-family home sales increased a more modest 9.7% in the month with pending numbers almost the same as June and July. There were some 19 sales in the $400,000-$700,000 category, the best performance for that price bracket by far for the year.

Condominium pending sales slipped by 16.6% for the lowest total since January.  But the 12 sales in the $300,000 to $600,000 price range ties a high for the year set in April.

Overall, sales still lagged well behind August 2007 numbers with single-family home sales off by 19.1% and condo's by 26.1%.

"The good news is that activity has been steady and consistent since March, especially so on the single-family side," said John Rice, Seacoast Board of REALTORS president.

 

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