SEACOAST RESIDENTIAL SALES VOLUME HITS THREE YEAR HIGH
By John W. Rice, Broker
PORTSMOUTH-With the combination of a normally active spring market, expiring homebuyers tax credit and near record low home mortgage interest rates, June was apparently the "perfect real estate storm" in the nine sample seacoast towns.
According to the Seacoast Board of REALTORS, sales of single-family homes reached their highest totals since June 2007. Not surprisingly, sales of homes priced under $400,000 also reached a three-year high.
Single-family sales climbed 28% from May and 21% from June 2009. Inventory also reached its highest level since July 2009.
Condominium inventory, by contrast, remained about the same as it has for the past three months. Still, sales climbed a solid 12% from May and that was enough to rack-up the best sales total since August 2007. The 37 units sold was a thumping 32% improvement over June 2009. Interestingly, higher-end units, priced from $300 to $600,000 saw their best totals since August 2008.