New Hampshire and Maine Homes and Condos

This past year in the Portsmouth NH real estate market, we saw  a number of interesting things, scattered over several months.  We saw a number of properties sell very quickly, and for close to or at their asking price.  We also saw multiple offer situations from time to time as well.

The important part of each of those situations was that the sellers paid attention to what the market was indicating for price, and they priced their properties appropriately for the market at that point in time.


                      Portsmouth NH Homes 2006 - 2007 Information

• Sales of Portsmouth NH homes in 2007 topped those sold in 2006.  The total number of homes sold in 2006 was 143 and for 2007, we sold a total of 173 homes.

• Average sales prices of Portsmouth homes was down slightly in 2007 over 2006.  The average sales price in 2006 was $375,035, while the average sales price in 2007 was $371,143 - not much of a difference in those numbers.

• Our average days on market saw very little difference from 2006 to 2007 - 96 days in 2006 and 98 days in 2007.  The average list-to-sales ratio was almost the same as well.  In 2006, it was 96.0% and in 2007, it was 95.8%.

                       Portsmouth NH Condos 2006 - 2007

• Sales of Portsmouth NH condos in 2007 were a little lower than in 2006.  The total number of condos sold in 2006 was 174 condos, and in 2007, 154 condos were sold.

• Average sales prices of Portsmouth condos was up somewhat in 2007 over 2006.  The average sales price in 2006 was $304,906, and the average sales price for this past year of 2007 was $317,595. 
   
• Our average days on the market did see a little difference.  In 2006, it took an average of 111 days for condos to sell, while in 2007 it took an average of 131 days to sell.  The average list-to-sales ratio in 2006 was 97.4% and in 2007, it was 96.6%.

 

                      Portsmouth NH Multi-Family Properties 2006 -2007

• Sales of Portsmouth NH multi-family properties increased in 2007 over 2006.  2006 showed 14 multi-familes sold while in 2007, we had 18 multi-family properties sell.

• The average sales price of Portsmouth multi-families was down in 2007 from the previous year.  The average sales price in 2006 was $557,493, and in 2007, the average sales price was $447,267. 
   
• Average days on the market in 2006 were 100 days, and the average days on the market in 2007 was 65 days.  That’s a great improvement for sellers!  The average list-to-sales ratio in 2006 was 92.2% and in 2007 it was 95.1% - another good improvement for sellers.

December was a busy month, and January appears to have gotten off to a good start as well.  Here’s to a great 2008 for real estate in Portsmouth and the surrounding towns, as well as all across the country!

If you’re interested in buying or selling real estate in the Portsmouth NH area, I’d welcome the opportunity to meet with you and talk about how I can help make your goals become a reality!

Happy New Year!



                                  
  Ann Cummings
  RE/MAX Coast to Coast
  Portsmouth NH
  ann@anncummings.com
  888-349-5678 x 3839
  Servicing the Coastal Areas of NH & Southern Maine