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Market Insights

JULY SETS NEW SEACOAST SALES MARK

 

RECORDS FALL, AS RED HOT REAL ESTATE MARKET CONTINUES RALLY

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

PORTSMOUTH-July is normally a sleepy month in the world of real estate. Not this year. The seacoast real estate market set five new records en route to the biggest month in at least three years for single family and condominium sales.

            According to the Seacoast Board of REALTORS, the 115 single-family July sales in the 13 sample seacoast towns were the most ever recorded since the SBR began keeping stats for 13 towns in 2010. The 81 sales of homes priced below $400,000, also a new monthly record, back-boned the remarkable rally. The total sales figure was up 59.7% from last year and is nine more than the old record set in June 2011.

            The record 56 condominium sales were also spurred by a record 37 sales under $300,000 and a record 18 sales in the $300,000 to $600,000 price category. The 56 total sales were five more than the old record set in May and represent an eye-popping 86.7% increase from last year.

            Overall, the single-family market is now up 17.4% for the year and 37.1% for condominium sales.


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