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Market Insights

Seacoast sales volume bounces back

by John W. Rice, NHAR President-elect 

PORTSMOUTH-December sales of single family homes and condominium units rebounded nicely from a slow November. Single family sales in the nine sample seacoast towns exceeded last year by 4% and November totals by an eye-popping 53%.

            The big news, however, was in the million-dollar price range which saw seven sales, the most since June 2008. The $3.97 million sale of 60 Straws Point Rye that closed on December 21st is the second sale of $3 million or more for 2010 and the largest sale since October 2009.

But there was also strength across the board in virtually every price range.

However, the 26 pending sales represent a 26% drop from November, although that total is very much in line with other winter pending totals. For example, January and February of 2010 recorded 25 and 24 pending sales respectively.

            It was the best month for condominiums since August with the 24 transactions producing a huge 71% gain from November and a 41% improvement from last year. Still, like single-family sales, pending transactions declined 33% with 10 properties under agreement tying September for the fewest of the year.


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