PORTSMOUTH NH — The spring seacoast real estate market is shaping up to be the best in at least three years.
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There were a record number of single family and condominium pending sales in April in the 13 sample seacoast towns, according to 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.
The 90 April pending single family sales are 18 more than the previous record set last May. There were 67 sales in the month, up 15.5% from last year. They were paced by 21 sales in the $400,000-$700,000 price category, nine more than last year at this time.
Meanwhile, the median sales price of a seacoast single family home was $369,800 up 21.7% from last year.
While the 35 pending condominium sales are also a new three-year record, condos again recorded a mixed bag of sales results. The average price of a condo was up 10.52% from last year at $210,000, but fell to its lowest level in three months in 2013. Closed sales also were off .06% from a year ago.
In the face of torrid demand, inventory levels continue to shrink. Available single family units dropped 21.1% from a year ago, while condominium inventory is off 17.2% from last year.
“Warmer weather in the Seacoast is leading to a hot market.” says Seacoast Board of Realtors President Jim Lee. “The shortage of inventory is leading to multiple offers and in some cases, bidding wars, with properties selling over the asking prices.” Lee said.
If you have any interest in buying or selling a home in the Portsmouth NH or New Hampshire Seacoast area my partner Ann Cummings and I would love to talk with you.
Most customers and clients find it easier just to call us direct; Ann’s direct number is (603) 501-3839 and mine (Jim) is (603) 501-3801. Both these number follow us where ever we are and will be only be answered by us.
Content published by Jim Lee