Market Insights

August Seacoast sales retreat

PORTSMOUTH-Sales of single-family homes in the nine sample Seacoast towns registered a third straight monthly decline in August, falling off 14% from July and 8% from August 2008 numbers. It was the slowest month for closings since April.

            Still, pending sales remained exactly the same as last month, boding well for a better September. The volume decline in homes priced less than $400,000 was a modest 10%.

            It was not a good month for condominium sales as well, which saw a four-month rally come to an end. Volume fell 51% from July and 45% from a year ago. But condo pending sales were up 29% for the month, perhaps, like single-family numbers, signaling a September rebound.