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Market Insights

Autumn chills seacoast sales

By John W. Rice, 2012 President of the NH Association of REALTORS



PORTSMOUTH-Against a background of tight credit and roller coaster international financial news, October sales of seacoast single family and condominium residential units both declined from September totals according to the Seacoast Board of REALTORS.

            Condominium sales declined 28% for the month although the 26 sales was one more than last year. Pending sales were off 10% as the market slid into a typical fall slow down. For the year, the condo market is lagging behind 2010 in total sales 274 to 293.

            Single family sales declined 18% for the month and 13% from a year ago. Pending sales for the month were off 32%. Still sales of homes under $400,000 remained very strong with 42 transactions, one more than September. Residential sales to date are almost keeping pace with 2010, 632 to 637.

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