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Market Insights

November seacoast sales decline

by John W. Rice, 2011 President-elect, NH Association of REALTORS

PORTSMOUTH-November sales of single family homes and condominium units in the nine-sample seacoast towns declined from October numbers, according to the Seacoast Board of REALTORS.

            Single-family home sales were off 37% from October and 33% from a year ago. The 32 sales were the lowest for a November since at least 2006. The 14 condominium transactions represented a 22% decline from last month and a 39% drop from November 2009. It was the slowest November for condos since 2008.

            Despite the decline in sales numbers, which more often than not is typical for this time of year, pending numbers were actually up-17% for single family units and 15% for condominiums.

           " The pending numbers are a good sign of things to come," said John Rice, 2011 President-elect of the New Hampshire Assoication of REALTORS. "I view November's numbers as the market catching its breath after a bullish summer and the sunset of the Federal Tax Credit.

             "Some decline, although not cast in concrete, is pretty typical for this time of year. But interest rates are still low and the seacoast has much to offer."


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