November Sees Real Estate Market Winding Down As Holiday Season Ramps Up

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.