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Market Insights

January seacoast volume at record levels


by John W. Rice 

PORTSMOUTH-With inventory approaching record low levels, January sales of single-family residences and condominiums in the 13 Sample Seacoast towns still hit three-year highs according to statistics just released by the Seacoast Board of REALTORS.

The 13 Sample Seacoast towns are Exeter, Greenland, Hampton, Hampton Falls, New Castle, Newfields, Newington, North Hampton, Newmarket, Portsmouth Rye, Seabrook and Stratham.

Single family residential sales actually slipped 8.9% from December numbers, but the total January transactions represented an impressive 20.3% jump from a year ago, including the most January $1 million-plus sales since 2011. The strong showing came despite an 11.2% drop in active listings to 356 available units-the least in January in three years, but a slight improvement over December's 348 active units.

The single family median sale price soared to $377,500, a 20.6% increase over last year and second to the 12-month high of $399,900 set in October.

Condominium sales were up an eye-popping 33% from 2013, just one sale less than last month. The big sales month came despite condo inventory slipping to a three-year low at 182 available units. Median sale price, like single family prices, jumped 16.6% to $225,000.

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