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Market Insights

May a banner month for Seacoast sales

MAY A BANNER MONTH FOR SEACOAST SINGLE-FAMILY HOME SALES

by John Rice, NHAR President-elect

PORTSMOUTH-May was a banner month for single-family home sales in the 13-sample Seacoast towns, according to the Seacoast Board of REALTORS. Sales were up 47% from last month and 2.5% from a year ago.

            The surprisingly strong month came after April sales had shown a decline from March. It was the strongest month by far for the year with 54 of the 78 sales recorded going for less than $400,000. It was also the best month to date for homes priced in the $400,000 to $700,000 category. The 18 transactions were 38% better than April, which had been the high for the year.

            Even more encouraging is the 52 pending transactions for the month, some 27% better than April and a portent for another strong June. June is traditionally the strongest sales month of the year.

            May ended with 817 single-family active listings-the most in at least a year.

            Meanwhile condo sales managed a year-best 30-sales, two more than last month, but 12 less than last year or -28.6%. Condo inventory was also at a new high for the year with 402 listings, the most since last July.


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