New Hampshire and Maine Homes and Condos

Real Estate Market Update for Portsmouth New Hampshire Condos - September 2008

Real estate is local, VERY local!  The condo market in Portsmouth NH can be very different than the condo market in Hampton or Exeter or Dover, etc.  Make sure, when making assessments about your local real estate market, that you talk to an agent who really knows your market and can provide you with accurate detailed information.

Real estate is always one of the topics of conversation wherever we go, and who isn’t interested in real estate and how markets are doing!  There’s always someone looking to buy a home, sell a home, or they know someone thinking about buying or selling real estate of some sort.

Homebuyers and home sellers in Portsmouth NH are no different, and I get asked about the New Hampshire real estate market all the time.  I love real estate, and helping people buy and sell homes and condos, so I never tire of real estate conversations!

Here’s how the Portsmouth NH condo real estate market has done for the month of September 2008:

• • –  We currently have 111 condos for sale in Portsmouth, with the average asking price being $445,315.  The average days on the market for those condos is 140 days.  Nineteen new listings for Portsmouth condos came on the market during September.
  
  
• • –  During September, we had just 5 condos go under agreement/sale pending.  The average asking price of those condos was $441,160, and the average days on the market was 85 days.
  
  
• • –  The number of Portsmouth NH condos that sold during September was 11 condos, and the average days on the market for those condos that sold was 95 days.  The average sold price was $251,036.  Sellers received, on average, 96% of their last asking price.
  
  

• –  During the month of September, we saw the listings on 11 Portsmouth condos expire without selling.  Typically properties don’t sell because they’re just not priced properly to reflect the current market conditions - and that’s the reason most of these condos didn’t sell as yet.

The current absorption rate for Portsmouth NH condos is running about 11 months.  The absorption rate tells us how long it would take to absorb the current inventory of condos for sale in Portsmouth NH if no other homes came on the market for sale.  This month’s absorption rate has gotten a little longer compared to August’s absorption rate for Portsmouth NH condos.

If you’re thinking about buying a home or condo in Portsmouth, you’re in a great market, both for timing and for what Portsmouth has to offer.  Your choices in housing are great and there are some great buying opportunities in the market.   And if you’ve been in the market and have found that perfect house or condo, only to have another buyer snap it up, you know that properly priced real estate is selling pretty quickly. 

Portsmouth NH is just a fabulous place to call home, and if you’d like to make it your home, too, I’d like to help you do just that!

If you’re interested buying or selling Portsmouth NH real estate, call me today at 1-888-349-5678 ext 3839, or send me an email, and let’s talk real estate!

Related Reading:

Seacoast New Hampshire Real Estate Market Reports
Absorption Rates and Why They’re Important to Know