Pondering Portsmouth Real Estate Plunge November 2014

By
Real Estate Agent with The Bean Group

Portsmouth Real Estate

homes for sale portsmouth nhHas Portsmouth Real Estate lost it’s luster?  Home sales are down almost 18% this year after two straight years of double digit growth.  The graph below pictures the state of Portsmouth Real Estate for year to date sold data from Jan 1 to Nov 22 over the last four years.  We measure demand in terms of Days on Market (DOM ) for homes sold.  The demand for Portsmouth Real Estate continues to grow and new listings coming to market are consistent.  Why are there less Portsmouth homes selling?

Portsmouth homes for sale

Portsmouth Median Sales Price vs Average Sales Price

Median Sales Price is said to be a better indicator of price trends because Average Sales Price can be artificially skewed by a transaction with an extremely high or extremely low sales price.   As an example, there was a sale in 2011 of over $6M.  Median Sales Price is the sale price of the transaction in the middle of all the data with half of the transactions having a sale price above the median and half below.   Median Sales Price is a bit more stable and “floats” on the wave of data.

three bedroom homes for sale in Portsmouth nh

Portsmouth Home Values

2013 saw Portsmouth Real Estate prices gain 15% and have fallen off only 2% this year.  It looks like buyers are seeing Portsmouth as overpriced and are looking outside of Portsmouth in Greenland, Stratham, Rye, and even across the bridge to Dover.  Stratham has seen home sales gain 17%, Rye up 5%, Greenland up 3.5%, Dover up 2%.   If you are on the hunt for a home in Portsmouth, here is a link to see all currently available property for sale in the seacoast => Portsmouth Homes For Sale

The Best Mortgage Rates Ever!!

Take a look at the history of mortgage rates from the last 52 Weeks vs the last 52 Years.  We will not see mortgage rates this low ever again in our lifetimes.  We had double digit mortgage rates only 20 years ago and folks still bought homes.  Today’s rates make homes more affordable for more people than ever in my lifetime.  We know they can’t stay this low forever so why wait.   If you are on the hunt for a home and need to finance, you should see this article on the => 8 Best Ideas For Home Finance

portsmouth waterfront homes for sale Portsmouth homes for sale

Congratulations To Portsmouth Buyers And Sellers

Take a look at these homes that sold last month.

portsmouth condos for sale
$224,900 107 Preble Way, Portsmouth, NH 03801  
2 bd 1 bath DOM : 49 Days 819 Sqft
MLS # 4383200  
View details
two bedroom condos for sale portsmouth
$569,000 36 Madison, Portsmouth, NH 03801  
2 bd 3 bath DOM : 49 Days 2,024 Sqft
MLS # 4380125  
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luxury homes for sale in portsmouth nh
$729,000 284 New Castle, Portsmouth, NH 03801  
4 bd 3 bath DOM : 75 Days 2,141 Sqft
MLS # 4377141  
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four bedroom homes for sale portsmouth nh
$629,000 752 South, Portsmouth, NH 03801  
4 bd 2 bath DOM : 86 Days 2,361 Sqft
MLS # 4374960  
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four bedroom homes for sale portsmouth nh
$399,000 29 Burkitt Street, Portsmouth, NH 03801  
4 bd 2 bath DOM : 95 Days
MLS # 4369359  
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four bedroom homes for sale portsmouth nh
$474,500 514 Middle St, Portsmouth, NH 03801  
4 bd 3 bath DOM : 114 Days 2,132 Sqft
MLS # 4368567  
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Three bedroom homes for sale portsmouth nh
$299,900 3 Dwight Avenue, Portsmouth, NH 03801  
3 bd 2 bath DOM : 101 Days
MLS # 4368146  
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three bedroom homes for sale portsmouth nh
$299,900 1273 Islington, Portsmouth, NH 03801  
3 bd 2 bath DOM : 135 Days 1,455 Sqft
MLS # 4364979  
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six bedroom homes for sale portsmouth nh
$519,900 100 FW Hartford Dr, Portsmouth, NH 03804  
6 bd 5 bath DOM : 200 Days 4,500 Sqft
MLS # 4341858  
View details
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