In Downtown Portsmouth A Luxurious Penthouse Condomium Sells For $1,275,000

Portsmouth NH - November 2007
Condominium and Town Home Market Report

In November Portsmouth condo closings rebounded from October levels.  There were 14 transactions that closed at an average of 95.4% of the listing price. The average selling price was $398,179 and the time on market was about six months with an average DOM of 185. The high end of the sold range was set by a three bedroom penthouse condominium in the heart of downtown that sold for $1,275,000.

While closing activity was up over the prior month newly listed activity fell off to the lowest level for 2007 - just 10 condos came up for sale in November with an average listing price of $279,160.

Pending contracts eased to the lowest level in 2007 as 6 condos went under agreement in November. The six condos that went to contract had a higher than average listing price of $505,283.

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