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Market Insights

Seacoast residential volume bounces back

MARCH VOLUME SETS NEW RECORD AS MEDIAN SALE PRICES RETREAT

by John W. Rice 

PORTSMOUTH-What a difference a month makes. Sales of single family residences and condominium units in the 13-sample seacoast towns recorded their best March volume in at least three years. This after a February that saw the lowest monthly volume ever for single family sales. Condominiums remained on a hot streak, though, recording their second straight record-setting month.

The figures showed annual monthly gains over February as well, while monthly median sale prices retreated for the first time in 2014, according to statistics just released by the Seacoast Board of REALTORS. Single family sales were up 6.3% from last year and condo units were up a healthy 28.5%.

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

For the year, both volume and median sale prices exceed 2013 figures with total single family sales up 1.6% and median sale price up 4.2% to $342,500-this despite the March monthly median sale price coming in at $320,000 or $15,000 less than 2013.

Similarly, March condo median sale prices were up 4.5% to $219,500 from 2013, though that represented a decline of 5.3% from February.

Meanwhile, single-family inventory fell to a three-year low for March, although condo inventory actually showed two more units for sale in March 2014 than in 2013.

 


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