October Condo Closings Slow, Pending Contracts Remain Steady

Portsmouth NH - October 2007
Condominium and Town Home Market Report

There were seven condominiums that closed in October - this was the lowest number of closings in a month since February. Sold units included a unit at Spinnaker Point, a pair at the Atlantic Pointe development and a luxury condominium in Downtown Portsmouth that sold for $685,000. These units sold for 96.6% of the listing price on average.

The average listing price of the 14 units that went under contract was $385,086.

21 condo units came up for sale with an average listing price of $363,043.

While closed sales were down in October trailing pending contracts have shown more strength so we’ll have to wait until next month to see if it is a temporary dip or a trend.

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