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Market Insights

2013 ends with record setting numbers

SEACOAST REAL ESTATE MARKET COMPLETES RECORD-SETTING YEAR

by John W. Rice,

Broker Associate, NH/Maine

Tate and Foss Sotheby's International Realty 

 

PORTSMOUTH-December sales of single family and condominium residences in the 13-sample seacoast towns pushed year end totals to a new three-year volume record, while annual prices for both categories rose more than 6% for the year.
The 13 Sample Seacoast towns are Exeter, Greenland, Hampton, Hampton Falls, New Castle, Newfields, Newington, North Hampton, Newmarket, Portsmouth, Rye, Seabrook and Stratham.
After a sluggish November, the single family market rallied with an 18% increase in sales more than last month, exceeding 2012 December numbers by 25.8%. The 1034 total sales for the year were up 5.2% over total volume for 2012. Single family units also enjoyed an annual 6.38% increase of median sale price to $350,000.
Meanwhile condominium sales slipped 13% for the month, but the 33 units sold represents a 50% increase over December 2012. That brought the total condo sales for the year to 483 or 10.5% better than last year. The median annual condo sale price of $230,000 represents a 6.97% improvement over 2012.
Meanwhile active listings fell to their lowest quarterly levels in three-years for both single family and condominium residences.


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