Loudon Racetrack Sold, Could Have Bought Every Home For Sale On The Seacoast For Just $55 Million More

Seacoast Real Estate Update - 2008 Year to Date

Last week Speedway Motorsports Inc. closed a $340 million cash deal to buy New Hampshire International Speedway in Loudon. For just a little over $55 million more they could have purchased every home currently for sale on the Seacoast (if they were so inclined).

There are currently 680 homes listed for sale on the Seacoast with an average listing price of $581,490 and an average time on market of 180 days. Total asking price for the lot: $395,413,189.

Now for the numbers:

In the first two weeks of the year 40 new listings have come to market for an average asking price of $472,105.

Fourteen homes have sold with an average sold price of $473,732 after 131 days on the market. Selling price was an average of 93.9% of asking price.

There were 21 under agreement homes in this period with an average listing price of $431,095.

Information based on the Seacoast towns of Dover, Durham, Exeter, Greenland, Hampton, Hampton Falls, New Castle, Newfields, Newington, Newmarket, North Hampton, Portsmouth, Rye, and Stratham.

Based on information from the Northern New England Real Estate Network, Inc. for the period January 1, 2008 to January 15, 2008.