Portsmouth New Hampshire Real Estate Market Update
How's the real estate market in Portsmouth NH?
I run into plenty of people who are always interested in knowing how the real estate market is in Portsmouth NH. Many of them read in the papers and hear on the national news that the market stinks, it's lousy market, blah, blah.....
Real estate is so very local, and I always make sure to let people I talk to know that. Here in my areas in the Seacoast towns of New Hampshire and southern Maine, we've picked up dramatically in the last 4-6 weeks, with loads of appointments, lots of buyers deciding this really is a great time to buy, and sellers wanting to sell who are really tuned into today's market and are realistic in their pricing expectations.
So, how's the real estate market doing in Portsmouth New Hampshire? Well, here's the scoop since the beginning of the year:
Portsmouth New Hampshire Homes:
-- Since January 1st, we've had 112 homes come on the market for sale, with an average asking price of $444,111. We have 85 homes currently for sale in Portsmouth, and the average asking price of those homes currently for sale is $542,071.
-- In that same time period, we've had 39 homes sell. The average asking price of those homes that sold was $368,654, and the average selling price was $351,360. The average days on the market for those homes was 122 days, and on average, sellers have been receiving almost 95.5% of their last asking price.
-- We currently have 46 Portsmouth homes that are sale pending, and the average asking price of those homes was $393,359.
-- In some neighborhoods in Portsmouth, such as the Little Harbor Area, homes that come up for sale there are getting a high number of showings very quickly, and then within a few days of the homes coming on the market, there have been multiple offers and the selling prices have been at or very close to the asking price. A few have actually sold over the asking price since the beginning of the year. Clearly, there's a pent-up demand for homes in this area.
Portsmouth New Hampshire Condos:
Since January 1st, we've had 98 condos come on the market for sale, with an average asking price os $355,965. We currently have 90 condos for sale in Portsmouth, and the average asking price of those condos is $359,519.
Since the beginning of the year, we've had 54 Portsmouth condos sell. Those condos had an average asking price of $349,672, and an average selling price of $336,224. The average days on the market for those condos sold was 135 days, and sellers received an average of a little over 96% of their last asking price.
We currently have 62 Portsmouth condos that are sale pending, and most of those will be closing within the next 30 days or so. The average asking price of those condos was $340,858.
So, what do all these numbers mean?
Well, if you look at the number of condos in Portsmouth that are sale pending, and the number of homes in Portsmouth that are sale pending, each of those numbers are higher than the total number of homes sold in almost 6 months and higher than the total number of condos sold in the last 6 months.
Portsmouth NH Homes sold in the last 6 months --- 39
Portsmouth NH Homes currently sale pending --- 46
Portsmouth NH Condos sold in the last 6 months --- 54
Portsmouth NH Condos currently sale pending --- 62
If you ask me, that's some awesome news about the Portsmouth NH Real Estate market! And I'm thinking that the buyers I'm working with are right - this is a FABULOUS time to get into the Portsmouth real estate market if you're thinking about buying, or have been waiting for the best time to buy. There just may never be a better time than right now!
Are you looking to buy condos or homes in the Portsmouth New Hampshire area?
If so, send me an email or give me a call - I'd love to help you find just the right home for you!
Ann Cummings, New Hampshire and Maine REALTOR
RE/MAX Coast to Coast
Portsmouth NH
ann@anncummings.com
888-349-5678 x 3839
Servicing the Coastal Areas of NH & Southern Maine 
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