We’re into the 4th week of March 2011 now and it’s time for a Portsmouth NH market update. Here’s what’s gone on so far this year including March to date.
- New is new listing
- BOM stands for “Back On Market” for whatever reasons, typically a sale that fell through.
- Pend is pending, that means an accepted offer but not yet closed
- Cntg means there is some sort of contingency; typically a potential buyer selling another house.
- Expr means Expired, did not sell and the listing period ran out. Often relisted.
- With is Withdrawn from sale, seller do not want to sell anymore for a variety of reasons.
- Sold obviously means sold, closed, and this house now has a new owner.
- Avg Sold$ is the average sold price in Portsmouth, NH, happy to furnish you this data for any other Seacoast town.
- DOM is Days On Market or time from the listing started until it moved into sale pending.
- and Median Sold$ means the middle of the sold price range; 1/2 the homes sold for more, 1/2 sold for less. Not to be confused with average sales price.
There is another week left in March so I expect the solds to increase. A lot of Portsmouth buyers time their closing towards the end of the month so they won’t have to pay a lot of prepaid interest. The way mortgage interest works, you pay your principal and interest a month in arrears (behind) so when you make your payment on the first of the month, you’re actually paying interest for the month that just passed.
So for example if you close on your new Portsmouth home on the last day of March then your first house payment won’t be due until the first day of May because that April 1st payment is the interest for March. Since lenders won’t be getting a full payment until the second month following a closing, they collect interest for all the remaining days in the month of closing in advance. Sounds kinda confusing but it all works out in a couple of months.
Portsmouth is the 03801 zip code shown in yellow toward the top right of the map. Our trend map shows there are currently 71 active residential listings in that zip code, median price is $399,900, and the days on market (time to sell) is 119 days.
Here’s a virtual new of our newest listing in Newington. It’s a terrific Cape with 3 bedrooms, 3 baths, a 2 car attached garage and five beautiful and private acres in a super convenient location.
To see any of the 71 homes currently for sale in the Portsmouth NH 03801 zip code or any other Seacoast zip code visit our website at Portsmouth New Hampshire Homes.com .
We have over 60 years experience between us and have literally sold thousands of houses just like yours. We know what it takes to get houses sold even in today’s market and we do it.