Category — Portsmouth Homes

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.

Portsmouth NH - April 2007
Single Family Home Market Report

April showers bring more …. new inventory to the market. 24 single family listings hit the market in April with an average listing price of $474,979.

The spring market gained a little momentum with a total of 16 buyers securing contracts to sell with an average listing price of $328,556 and an average of 145 days on market.

There were 8 closed sales with a total selling price volume of $2,268,910. The average selling price of $283,614 was 97.3% of the asking price on average. At an average 147 DOM that figure was over a month shorter than the March figure.

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

Portsmouth NH - March 2007
Single Family Home Market Report

In March the single family home market in Portsmouth saw a slight pick up in activity over February as 13 homes went under contract for sale with an average listing price of $413,892 for a total offered price of $5,380,600.

As sellers began to anticipate the spring market a total of 29 homes came on the market at an average asking price of $448,410.

March saw a total of 9 sets of keys change hands at the closing table for a total value of $3,422,500 with an average selling price of $380,000 which was an average of 96.28% of the listing price. Average days on market for those properties were over six months at 196 days.

Unlike January and February there were no fixer uppers in Atlantic Heights that sold in March so we saw the average sale price return to a more normal $380,000 level. A completely renovated 3BR circa 1829 federal style home on Austin Street set the top end of the sold range for the month at $515,000.

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

Portsmouth NH - February 2007
Single Family Home Market Report

February 2007 saw 11 homes come on the market in Portsmouth for an average listing price of $366,864, adding $4,035,500 in listing inventory.

9 homes went under agreement in February with an average listing price of $406,300 and an average time on market of 230 days.

One more home sold in February then did in January for a toal of 13 closed sales. The average selling price of $255,338 was down slightly from January as was the total selling price of $3,319,400 with an average selling price of $255,338, which was 97% of asking price on average.

The average sales price in February was again influenced by a number of sales in the Atlantic Heights neighborhood. Five fixer-upper sales in Atlantic Heights ranged between $137,500 to $185,000. The high price for February was set by a 3BR home on New Castle Avenue for $465,000.

Based on information from the Northern New England Real Estate Network, Inc. for the period February 1, 2007 to February 28, 2007.

Portsmouth NH - January 2007
Single Family Home Market Report

January kicked off 2007 with 17 homes that were new to the market in Portsmouth. The new to market properties had an average asking price of $403,894, increasing the offered inventory by $6,866,200.

In January 17 homes were put under contract for sale totaling $4,484,400 at an average offer price of $263,788 after being on the market for an average of 80 days.

12 properties closed in January for a total selling price of $3,416,300 with an average selling price of $284,692. The homes that sold were on the market for nearly three months (an average of 86 days) and sold for an average of 96.7% of asking price.

The majority of the sales action in January was focused on the entry level home market range for Portsmouth and properties were sold for within 5% of asking price. Three sales in the Atlantic Heights neighborhood under $200,000 contributed to the low average sale price. The high water mark was set by the sale of a Circa 1804 Federal on Haymarket Square for $685,000.

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