Well, let's take a look at the numbers to see what has been happening in Portsmouth for single family and condominium sales:
2008 Q2
Total Sales 74 - Average Sale Price $351,409 - DOM 121
2007 Q2
Total Sales 106 - Average Sale Price $336,922 - DOM 133
The obvious is not as many homes sold this year compared to last year. Our total units sold is down 30.18% but lo and behold our sales price is up by 4.19% and days on market have reduced by 12 days or 9%.
2008 January 1-June 30
Total Sales 143 - Average Sale Price $337,129 - DOM 120
2007 January 1-June 30
Total Sales 167 - Average Sale Price $330,577 - DOM 122
So, overall Portsmouth is not doing badly at all. Our total units sold is down by 15% but our home values are holding steady and even rising by 1.9%. Now is a great time to invest in Portsmouth. There are 173 properties in inventory - something for everyone. Come take a look at living in Portsmouth!
Shannon Aldrich, Keller Williams Coastal Realty
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