Portsmouth NH Real Estate Under $350,000 May 26 2014

Real Estate Agent with The Bean Group

Porstmouth NH Real Estate Under $350,000

If you are on the hunt for a home in Portsmouth NH Real Estate and you are on a budget, take a look at these five best deals under $350,000 => Portsmouth Homes Under $350K  Homes sales have staggered over the last few months.  Most likely due to the winter that wouldn’t let go.  Now that the weather is acting a lot more like spring, homes are flying off the shelves.  Here is a look at new listings this week => Newly Listed In Portsmouth

Portsmouth NH Real Estate Stats

Looking at the sales data for Portsmouth NH Real Estate for the first four months of the year over the last four years, it looks like Portsmouth home sales are sliding.  We will see more homes sold in the coming summer months and sales will surpass last year because mortgage rates are the driving factor.  However, new listings are down and the inventory is at it’s lowest level in some time.  I predict more homes will be coming to the market to take advantage of the growing demand and the perception of seller’s that as mortgage rates increase, their pool of buyers will decrease.

portsmouth nh homes for sale

Porstmouth NH Price Trends

Looking at price trends over the same period paints a picture of a market that is poised to take off.  Median Sales Price is said to be a better indicator of price trends because Average Sales Price can be skewed by a transaction with an extremely high or low sales price.  Median Sales Price is the transaction in the middle of the data with half of the transactions having a sales price above and half below.  So Median Sales Price rides in the middle of the data presenting a better picture of where prices are headed.   We see that Median Asking Price has been trending slightly lower this year. portsmouth nh home values

Mortgage Rates Are The Fuel

Looking at the trend of mortgage rates over the last 52 weeks vs the last 52 years, we can see rates are making homes more affordable now.  As rates go up and we know they will, buyer’s purchase power will erode.  Don’t kick yourself in 2015 for not buying in 2014.  If you are renting and want to buy a home, now is the time to take advantage of home prices and mortgage rates before they go up.  If you are looking to make a move to a larger or newer home, your chances of getting a good deal are higher right now.

first time home buyers best mortgage rates marty patrizi

Portsmouth NH Homes Sold

Portsmouth is an extremely desirable place to live with it’s rich waterfront history and it’s mix of business and recreation.  There is no doubt that Portsmouth NH Real Estate has always been a seller’s market for that fact.  The tough part is being in the know for new listings.  Your best bet is to check the MLS daily or hook up with an experienced agent where you can get alerted to new listings and price changes as soon as they happen.   Click here to see what my clients are saying =>Testimonials  Here’s a look at Portsmouth NH Real Estate sold this week. 

Portsmouth NH homes for sale
$337,000 425 Pleasant, Portsmouth, NH 03801  
3 bd 1 bath 1,292 Sqft
MLS # 4358403  
View details
portmsouth nh homes for sale
$539,900 18 Congress St, Portsmouth, NH 03801  
2 bd 2 bath DOM : 64 Days 1,180 Sqft
MLS # 4342762  
View details
portsmouth homes for sale
$161,900 209 Springbrook Circle, Portsmouth, NH 03801  
2 bd 2 bath DOM : 63 Days 1,071 Sqft
MLS # 4342049  
View details
portsmouth condos for sale
$365,000 29 Harrison Avenue, Portsmouth, NH 03801  
3 bd 2 bath DOM : 78 Days 1,327 Sqft
MLS # 4339991  
View details

marty patriziThis report brought to you by Marty Patrizi Realtor at The Bean Group.  Marty can be reached direct at 603-781-4099 or by email marty.patrizi@beangroup.com for more insight and comment.

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