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Market Insights

December Seacoast sales decline


December seacoast sales weak

By John Rice, 2009 Past President Seacoast Board of REALTORS


PORTSMOUTH-December single family and condominium sales totals hit new lows in the nine-sample seacoast towns.

            There were only 23 residential and 10 condominium closings in the month, the lowest totals in at least 24 months. Residential sales were off 32% from November and 39% from last year. Condo sales declined 17% from November and 57% from last year.

            Meanwhile bargain hunters took advantage of declining prices with 20 of the 23 residential sales recorded being for less than $400,000 and nine of the 10 condominium sales for less than $300,000.

            There were 29 pending residential sales, down 17% from November and the lowest total for the year. Condominium pendings were also lowest for the year, declining 16% from last month.

            "These are not great numbers, even given the time of year," John Rice, past president of the Seacoast Board of REALTORS said. "If there is a silver lining in all this it's that maybe things are finally bottoming out and residential interest rates are at record lows."

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