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Market Insights

February sales volume light; condos rebound

 

SEACOAST FEBRUARY CONDO SALES IMPROVE IN LIGHT VOLUME

by John W. Rice

PORTSMOUTH---Sales of single-family condominiums in the nine sample Seacoast towns returned to more "normal" levels in February. There were12 units closing after a paltry, record-low three changed hands in the previous month. Still, the final figure represented a decrease of four sales or 25% from February 2008.

            There was no change in the single family home sales from January with 16 closings registered. Again that was less than 2008, in fact a 33% decline.

            There was almost no change in the amount of active listings, while pending single-family sales declined 19% and condo pendings declined 25%.

            "It's nice to see condo sales rebounding," said Seacoast Board of REALTORS Past President John Rice. "But the market still seems to be impacted by poor economic news and the time of year. Hopefully  real estate will benefit from the recent stock market rally."

 


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