Portsmouth NH | Real Estate sales rise


Portsouth NH Real Estate Sales Increase In 2011

PORTSMOUTH—May was a banner month for single-family home sales in the 13-sample Seacoast towns, according to the Seacoast Board of REALTORS. Sales were up 47% from last month and 2.5% from a year ago.

The surprisingly strong month came after April sales had shown a decline from March. It was the strongest month by far for the year with 54 of the 78 sales recorded going for less than $400,000. It was also the best month to date for homes priced in the $400,000 to $700,000 category. The 18 transactions were 38% better than April, which had been the high for the year.

Even more encouraging is the 52 pending transactions for the month, some 27% better than April and a portent for another strong June. June is traditionally the strongest sales month of the year.

May ended with 817 single-family active listings—the most in at least a year.

Meanwhile condo sales managed a year-best 30-sales, two more than last month, but 12 less than last year or -28.6%. Condo inventory was also at a new high for the year with 402 listings, the most since last July.

“The national news may show some devastating numbers, but all real estate is local, “said James Therrien, president of the Seacoast Board of REALTORS. “The State of New Hampshire and Rockingham County are both off by about 4% but our 13 seacoast towns are holding their own with 264 sales against 263 for the same period last year.”

“You also have to remember that last year at this time was the end of the first-time home buyers tax credit,” Therrien continued. “June numbers could be challenging, but we have the highest level of inventory in a long time, realistic pricing and the lowest mortgage rates ever and consumer confidence is building.”

Great news for the Portsmouth and Seacoast areas of New Hampshire. Visit New Hampshire and Maine Real Estate to find a great new home for you and your family.

Use our Seacoast Area ‘Quick Home Finder‘ link to search all Realtor listing in all the New Hampshire Seacoast towns of Dover, Durham, Exeter, Greenland, Hampton, New Castle, Newington, North Hampton, Portsmouth, Rye, Seabrook, and Stratham.

Ann Cummings and Jim Lee are your Portsmouth and Seacoast New Hampshire real estate experts.

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