Portsmouth Sees Eight Homes Sell In December As 2007 Wraps Up

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.