This is one of our newest listings. Take a look at the virtual tour and see what this immaculate home has to offer. Virtual tours of all of our listings are only one of the many marketing tools we use to get homes sold.
Let’s take a look at the current Portsmouth real estate market. Currently there are 199 active listings of single family homes and condos in the Portsmouth market. During the past 10 months there have been 205 sales or 20.5 homes sold per month. By dividing the number of sales per month into the number of active listings (199 divided by 20.5) we get the absorption rate for Portsmouth which is 9.71. That means at the current sales rate it would take 9.7 months to sell all the houses current for sale and assuming no new listings came on the market which is not realistic.
Generally more than a 6 months supply of inventory indicates we’re in a buyers market but in this case not a terribly strong one. So, over 6 months of houses for sale equals a buyers market, less than 6 months equals a sellers market.
The ‘heat map’ below gives the median list price ranges for the various areas along with prices per square foot, total number of current active listings, and median days on market; all great indicators of the current state of the market. Happy to provide that information for your area, just send me an email Jim@JimLee.com and I’ll get it right back to you.
Here’s the monthly breakdown of Portsmouth homes actually sold and closed. Data is only available through October so far.
And for a little historical perspective here are Portsmouth sales for the past 10 years.
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.