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Market Insights

Seacoast condo sales set record pace

AS SINGLE FAMILY SALES CORRECT, CONDO TRANSFERS REMAIN RED HOT

by John W. Rice 

PORTSMOUTH, NH-February sales of single family residences and condominium units in the 13-Sample Seacoast Towns took polar opposite paths last month according to statistics just released by the Seacoast Board of REALTORs. Condominium transfers experienced the best February in at least 3 years, while single family monthly totals were the lowest since February 2011.

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

With inventory off 23.1% from last year and weather going from bad to worse, sales of condo units still improved 33% from 2013 with 28 transfers. The median sale price of a condo climbed to $242,500-up 1% from last year. Combining the first two months of the year, the median sale price of a condominium was up a whopping 19.7% to $239,500.

Single family median sales prices rose 13.4% for the year to $370,000 despite the lowest monthly sales total in 36 months. Volume was off 23.6% from a year ago on 42 total sales.


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