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Market Insights

July seacoast real estate sales surge

PORTSMOUTH-Has the bottom been hit and is recovery under way? Maybe it's too soon to tell, but July sales numbers seem to hold many reasons for optimism.

Single-family home sales, despite an 8% decline from June registered a 17% gain from July 2008 numbers, the second time this year that monthly figures were better than the previous year. This happened twice in all of 2008. It was also the most July sales registered in at least three years.

The big news, however, was on the condo side where there were 35 closings-most since September 2007. The totals represent a 59% improvement from last year and are 25% better than last month. Monthly condo sales have not exceeded the previous year's totals since last October.

Single family inventory reached the highest number since at least 2006 and condo inventory was at its highest since last October.


Michael Bean, President
Seacoast Board of REALTORS

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