Category — Portsmouth Homes

Portsmouth, New Hampshire Real Estate Market Report
Single Family Homes - April 2008

There are currently 75 homes for sale in Portsmouth, NH. The average listing price is $539,582 and the average time on market is 103 days. In April there were a total of 35 new listings in Portsmouth with an average price of $433,449.

13 homes sold in Portsmouth, NH in April, up 62.5% from April 2007. The average sales price was $431,750 which was 95.5% of the asking price. Homes that sold were on the market an average of 153 days. There were 11 pending sales reported in Portsmouth in April (down from 16 pending sales in April 2007) with an average listing price of $427,991.

Based on information from the Northern New England Real Estate Network, Inc. for the period April 1, 2008 to April 30, 2008.

Portsmouth, New Hampshire
February 2008 Single Family Home Market Report

The Ups: Portsmouth Residential Inventory

• 19 homes came on the market, up 73% from last February.
• Average new listing asking price up 37% over last February to $503K.
• Total new inventory of $9,562,600 up 137% from last February.

Current inventory as of 3/2/08 stands at 61 homes for sale in Portsmouth with an average asking price of $589,479 and an average of 134 days on market.

The Downs: Portsmouth Home Sales and Pending Sales

Six homes sold in Portsmouth this February down 54% from the same period last year when there were 13 closings. Average days on market for sold homes was 15% shorter than last year. The average Portsmouth home sales price was 94.3% of the asking price for the half dozen homes that sold - this was off slightly from last February when the listing price to selling price difference was just 3%.

There were just 3 pending sales contracts recorded, down 67% from last February when there were nine closings. The average time on market for the new sales contracts was shorter than last year at 164 days.

The Even: Average selling price for the homes that sold in February was just about even with last year at $255,233.

Thoughts:

Last year there were 11 new listings and 9 pending sales in February …. an evenish market. This February we just saw 19 homes come up for sale in Portsmouth with only 3 corresponding sales contracts in the same period - this is a huge percentage difference from last year. Sellers should adjust their sales strategy with the understanding that there are far fewer buyers for Portsmouth homes than there were last year.

Based on information from the Northern New England Real Estate Network, Inc. for the period February 1, 2007 to February 29, 2008.

So you live in Portsmouth, you are thinking of putting your home on the market this spring, you don’t know what to make of everything you hear in the media, and you are wondering where Portsmouth home values are sitting right now.

First, remind yourself that you are a New Hampshire resident - property values in California, Florida and Arizona are nowhere near as important to you as property values in Portsmouth, NH. Keep your focus on the local sales numbers rather than national averages.

Here are the facts based on local sales numbers in Portsmouth in the last six months, broken down by number of bedrooms:

5 Bedroom Homes in Portsmouth

There were four 5 bedroom houses that sold. Values ranged from $250,000 for a fixer upper on a busy road to a completely renovated single family in the South End that sold for $1,301,500.

4 Bedroom Homes in Portsmouth

4 bedroom homes in Portsmouth sold from $215,000 up to $1,400,000 for a waterfront home in Tuckers Cove. In all there were eighteen 4 bedroom homes that sold - the average sales price was $494,219 and the median sales price was $363,650.

3 Bedroom Homes in Portsmouth

Thirty-nine 3 bedroom homes were sold in Portsmouth. The price range stretched from $203,000 to $985,000 for a waterfront home in the South End. The median price was $350,00 and the average sales price was $365,324.

2 Bedroom Homes in Portsmouth

There were 15 two bedroom homes in Portsmouth that sold for an average of $272,260, the median price was $250,000.

In all, home values in Portsmouth ranged from $203,000 to $1,400,000 with an average sales price of $388,233 and a median sales price of $320,000.

Is there other information that would be helpful for you? Feel free to leave a comment!

Based on information from the Northern New England Real Estate Network, Inc. for the period August 3, 2007 to February 3, 2008.

Portsmouth Housing Market Report - January 2008

Last January there were twelve homes that sold in Portsmouth, this January there were six. Sold prices ranged from $212,000 for a three bedroom ranch to $405,000 for a three bedroom cape on Thaxter Road.

It took longer for them to sell - last year it was just under three months, this year they were on the market almost two months longer. For the sellers that found a buyer the homes sold for about 4% less that the asking price.

Pending sales for January were way off last year -  there were just five homes that went under contract last month - this is 29.4% of the pending activity from January 2007.

There are currently 57 homes for sale in Portsmouth with an average of 147 days on market. Fifteen homes came on the market in January with an average listing price of $441,335.

Based on information from the Northern New England Real Estate Network, Inc. for the period January 1, 2007 to January 31, 2008.

Portsmouth NH - December 2007
Single Family Home Market Report

Holiday parties, gift shopping and family activities don’t leave too much time for home buying activities in December it seems.

Overall the single family home market in Portsmouth was seasonally slow as expected with key stats slightly down from the same period in 2006 when there were 12 closings and 13 new pending contracts. The frequent snowfall in December was most likely a factor in the overall level of pending activity.

The average selling price of the 8 homes sales that closed in December was $310,500. The average time on market was 102 days. The sales that closed in December sold for an average of 90.9% of asking price. This stat needs a bit of background information to put that number in perspective: one of the eight properties that sold was an Antique Georgian that was in need of significant restoration. It sold for 75% of the listed price of $399,900 which skewed the average sale to asking price statistic by nearly 3%.

The top end of the sold range was $525,00 for a four bedroom home in The Woodlands.

10 homes were put on the market in Portsmouth in December. The average asking price was up slightly over November at $407,630.

There were 8 sales contracts that came together with an average listing price of $284,450. These homes had been on the market for an average of 138 days before accepting an offer.

Based on information from the Northern New England Real Estate Network, Inc. for the period December 1, 2007 to December 31, 2007.

Portsmouth NH - November 2007
Single Family Home Market Report

As we stretch into the holiday season and the snow begins to fall the perception is that the real estate market begins to hibernate in New England - but as you will see below there is still activity.

In November there were 13 homes that put up for sale signs in Portsmouth with an average asking price of $293,969 - this was significantly less than the average asking price of $395,333 that was seen in October.

The number that really took a dip for the year to date was pending contracts. There were 7 parties that came together on price and terms in a contract for sale. The average listing price of those 7 contracts was $414,943. This was the lowest number of new contracts since February, when there were 9 new pending contracts.

While pending contracts dipped, closings were up over October. There were 15 home sales that closed with an average selling price of $431,510. Average days on market was 117. The homes sold for 94.8% of asking price on average.

South Street was popular - there were three homes that sold on South in November. A 4,400 SF downtown residence on State Street set the high bar at $1,301,500.

Based on information from the Northern New England Real Estate Network, Inc. for the period November 1, 2007 to November 30, 2007.

Portsmouth NH - October 2007
Single Family Home Market Report

Just 15 homes came on the market in Portsmouth in October. The average listing price was $395,333. It is interesting to note that the average listing price is now very close to the $391,493 average selling price of transactions that closed in September.

15 homes went under agreement with an average listing price of $397,480 and an average DOM of 84 days.

11 transactions made it to the closing table - this was the lowest number of closed transactions since April. The average selling price was $393,718 which was 94.9% of the asking price on average. Average DOM was 133 days.

There was one sale in the seven figure range - a new construction home with views of Downtown Portsmouth and the Piscataqua River sold for $1,025,000.

Based on information from the Northern New England Real Estate Network, Inc. for the period October 1, 2007 to October 31, 2007.

Portsmouth NH - September 2007
Single Family Home Market Report

In September as in August there were 24 homes that went up for sale in Portsmouth. The average listing price was $347,546.

11 homes went under agreement at an average listing price of $399,155. The average DOM for these homes was 129 days.

Closing activity was back to the level Portsmouth saw in July, with 14 properties sold. The average selling price was $391,493 which was down slightly from August. Days on market was up slightly from August extending to 110 days. The selling price was 96.8% of the asking price on average. It is interesting to note that the while the average selling price amount and variance from asking price in August were skewed by two high end home sales the averages in September were very close to the July numbers.

The sales price of $985,000 was the high water mark for September, so to speak, and was set by a waterfront South End colonial.

Based on information from the Northern New England Real Estate Network, Inc. for the period September 1, 2007 to September 30, 2007.

Portsmouth NH - August 2007
Single Family Home Market Report

The average price of newly for sale homes in Portsmouth increased in August to $509,121 for the 24 homes that came on the market.

August saw more agreements to sell than July with a total of 24 contracts that came together with an average listing price of $412,583. Those homes were on the market for an average of 94 days.

There were 23 homes that changed owners in August with an average selling price of $412,278. The average DOM was 72 days (close to the July average of 68 DOM. The average selling price was 92.9% of the asking price, which was the largest spread year to date.

There were two seven figure sales in Portsmouth in August. A four bedroom brick face colonial in Tuckers Cove sold for $1,290,000 and a four bedroom shingle style cape in Tuckers Cove sold for $1,400,000.

Based on information from the Northern New England Real Estate Network, Inc. for the period August 1, 2007 to August 31, 2007.

Portsmouth NH - July 2007
Single Family Home Market Report

The market typically slows down somewhat in July as people focus their energy on summer vacations. This July was no exception, but the market remained active.

20 potential sellers put their homes on the market for an average asking price of $473,070 which was just a hair away from the June average.

The number of homes that went under agreement was down slightly from June. The average listing price of the 14 homes that went under contract was $301,229 with an average of 74 days on market.

The total selling price for all the homes that closed in July was $5,195,200. There were 14 change of address cards in all. The average selling price was $371,086 which was 96.7% of the asking price and the average DOM was just 68 days.

Closings in July ranged from a three bedroom ranch style for $212,000 to a Little Harbor Victorian on Miller Ave. that sold for $665,00.

Based on information from the Northern New England Real Estate Network, Inc. for the period July 1, 2007 to July 31, 2007.

Portsmouth NH - June 2007
Single Family Home Market Report

June in Portsmouth. Warm weather and Market Square Day.

32 homes came on the market in June. The average asking price was $471,934 - an increase over the May average.

At the same time 19 homes went under contract with an average listing price of $399,095 and an average of 56 days on market.

Closings often run from 30 to 90 days from the contract date - so June closings from the seasonal increase in buyer activity in March, April & May. Portsmouth saw 28 homes close in May for a total sales price of $11,027,400. The average sale price was $393,836 and was 96.6% of the listing price. The average time on market was 86 days.

The top end of the price range for June was $840,000 for a home in Tuckers Cove.

Based on information from the Northern New England Real Estate Network, Inc. for the period June 1, 2007 to June 30, 2007.

Portsmouth NH - May 2007
Single Family Home Market Report

In May the spring market continued to heat up along with the weather … more homes came on the market, more properties under contract and more closed sales.

Real Estate for sale signs were popping up all over Portsmouth as 33 single family homes hit the market with an average offered price of $393,811.

Incidences of “meetings of the minds” between buyers and sellers increased as 24 pending contracts came together at an average listing price of $434,167 with an average time on market of 77 days. This was 50% more pending contracts than in the preceeding month.

When you added up the selling price of all the homes that closed in May the final total came to $7,307,250 - more than triple the total dollar number in April. There were 18 closed sales at an average selling price of $405,958. The selling price was 94.89% of the asking price on average - this is the first month in 2007 where the difference between the average selling price and the asking price was more than 4%. Average days on market was down to 98 days.

The sale of a circa 1858 Greek Revival for $950,000 in Portsmouth’s South End set the top of the price range for May.

Based on information from the Northern New England Real Estate Network, Inc. for the period May 1, 2007 to May 30, 2007.