Seacoast Board of Realtors
FOR IMMEDIATE RELEASE FOR MORE INFORMATION
July 8, 2013 Jim Lee, 603-501-3801
JUNE SEACOAST REAL ESTATE SALES LOG NEW VOLUME RECORD
PORTSMOUTH NH — June sales of single family homes and condominiums hit all-time highs for at least the past three years in the 13-sample seacoast towns, according to the Seacoast Board of REALTORS.
The 13 sample towns are Exeter, Greenland, Hampton, Hampton Falls, New Castle, Newfields, Newington, North Hampton, Newmarket, Portsmouth, Rye, Seabrook and Stratham.
Buyers continued to scoo p up property while interest rates remain low, leaving single family inventory numbers at a three-year low and off 20.6% from last year.
Nevertheless, single family sales, led by a resurgent mid-higher end market, were up 17.3% from last year. Homes priced in the $700,000 to $1 million range enjoyed their biggest monthly volume (11 sales) in at least three years while the six $1 million-plus transactions were the most since July 2011.
Condominium sales, now up 6.6% for the total year, jumped 37.2% from June 2012.
But median sales prices remained a mixed bag for both condos and single family homes. The condo median ended at $223,000, only the second monthly gain since February but off 6.9% from last year.
The June median single family sales price was $371,500, by far the best for the year, but like condos, off from last year by a modest 1.7%.
“A modest rise in interest rates has not dampened sales,” said Seacoast Board of REALTORS President Jim Lee. “In fact, it seems to have spurred them on to higher numbers.”
“No one knows what the market is going to do next year,” Lee adds, “so now still remains the best time to buy and get a fantastic interest rate.”
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