Closed sales. Portsmouth, NH, is a town of approximately 22,000 people and an area of just under 17 square miles, making it a fairly small city with a small but pricey real estate market. Because of that, the number of closed sales dropping 23.5% in October versus the same time in 2021 doesn’t mean much.
Average days on the market for Portsmouth, NH, single-family homes and condos.
Portsmouth NH absorption rate October 2022.
The absorption rate, or the number of months’ supply of homes for sale, is a great market indicator to determine whether we’re in a seller’s or buyer’s market. Above 6 months is considered a buyer’s market, and below 6 months tends to favor sellers. The October number of 2.5 months says we’re still firmly in a seller’s market with low supply and high demand.
Portsmouth NH median sales price for single-family homes October 2022
Portsmouth NH median sales price for condominiums October 2022
Portsmouth, NH, condo prices continue to rise, with the median price breaking through the million-dollar barrier this past October to $1,019,500!
Portsmouth, NH, pending sales for single-family homes and condos.
That’s the story for the Portsmouth, NH, real estate market for October 2022. If you have questions or would like to know the numbers for your New Hampshire town, we’re happy to provide them.
Ann Cummings and Jim Lee, REALTORS, Home Sellers, Problem Solvers
Ann Cummings and Jim Lee, REALTORS, your local real estate experts.