SEACOAST SINGLE FAMILY SALES CONTINUE AT RECORD PACE
PORTSMOUTH, NH—Single family and condominium sales in the 13 Sample Seacoast Towns reached at least a three-year volume high for February in statistics released this week by the Seacoast Board of REALTORS.
It was the second straight month single family sales hit record levels.The 13 Sample Seacoast Towns are Exeter, Greenland, Hampton, Hampton Falls, New Castle, Newfields, Newington, North Hampton, Newmarket, Portsmouth Rye, Seabrook and Stratham.
The numbers were achieved even though inventory levels fell 22.8% from last year for single family homes and 10.7% for condominiums. Inventory shortage is becoming a national trend, according to the National Association of REALTORS. Still, there were 429 single family units and 242 condos on the market as March began.
With inventory on the decline, prices jumped in the past month. The median sale price of a single family home was $353,000 up an eye-popping 54.48% from 2012. Condo prices also registered a healthy 14.29% gain to $239,900.
On the single family side, sales were up 41% from last February, though down 6.7% from last month. Some 63.6% of those sales were for homes priced less than $400,000. Condo sales were up a solid 31% from a year ago, but off 12.5% from last month. The bulk of the sales—71.4%–went for less than $300,000.
Seacoast Board of Realtors President Jim Lee said that “despite cold winter temperatures Seacoast home sales have been hot.” Lee also said “We’re starting to see multiple offers on homes again.”
“Homes are selling faster because inventories are low and buyers don’t have the luxury of waiting weeks or even days anymore to make a buying decision when they find a home they like.”
If you’re thinking of buying or selling real estate in the New Hampshire Seacoast or southern Maine areas, we would love you to call us. My partner Ann Cummings and I have worked with literally thousands of buyers and sellers just like you over our real estate careers. Here’s what just a few had to say about us and our services.
We’re easy to reach; My direct number is 603-501-801 and Ann’s is 603-501-3839, email us at Jim@JimLee.com or Ann@AnnCummings.com. Contact us now if you have a real estate need, we’re ready to go to work for you.
Content published by Jim Lee