Portsmouth NH real estate week of December 5th 2010

Pictured below is one of our new listings. This double wide is in move in condition and has 3 bedrooms and 2 full baths. Priced at only $119,900 it will make someone a great home. Call us today to have a look.

Play VisualTour

What happened last week in the Portsmouth real estate market? Currently the Multiple Listing Service (MLS) shows 185 active listings for both single family homes and condos in Portsmouth. That’s 14 fewer than the past week.

For the past 11 months Portsmouth has had 217 closed sales or 19.7 sale per month. Dividing 19.7 into 185 we get the new absorption rate of 9.39 or a 9.4 months supply of homes to sell which is a slight drop from the last month’s figure of 9.7. Historically towards the end of the year and winter there are fewer homes on the market and fewer sales.

Below is a chart showing monthly Portsmouth sales compared to the same time periods in 2009.

Portsmouth NH homes real estate market update

Portsmouth had 228 sales in 2009 and year to date through November 2010 there have been 218 sales versus 228 total for 2010. So just 10 more closed sales in December will put us even with 2009. I believe we can do that and then some.

It appears there was a big spike in closings in the May-June time period. Since the now ended $8,000 tax credit expired at the end of April, I attribute a big share of that increase to last minute buyers taking advantage of that credit.

Average days on the market (time to sell) through November of 2010 has been 129 days versus 109 days for the same time period (January-November) 2009. Please comment below or email me with any questions about real estate in your area.

Looking for a great new home in the Portsmouth or New Hampshire and southern Maine Seacoast area? Visit PortsmouthNewHampshireHomes.com to see all the beautiful homes for sale. Happy to show you any them at your convenience.

My partner Ann Cummings and I have over 60 years of combined real estate experience we would love to use to help you buy or sell your next home. We’re happy to sit down with you and answer all of your real estate questions.

This entry was posted in Portsmouth NH and tagged , , , . Bookmark the permalink.

facebook comments:

Leave a Reply