Portsmouth Condominium Sales Prices Held Firm In January

Portsmouth Condo Market Report - January 2008

The condo market held its own in January in some respects. The year kicked off with the sale of a recently completed luxury condominium on Bow Street for $1,150,000. At the other end of the price range a studio condo on State Street went for $186,000.

Average sale prices were up slightly over last year and the selling price remained within four percent of the the asking price for the 10 condominiums that sold last month. The average selling price was $390,700 and time on market was in the same ballpark as last January at 144 days.

There were eight pending contracts in January down from fifteen pending contracts in January 2007. Average listing price for the pending sales was $301,938.

There were 16 listings that came on the market in January, the average listing price was $278,306.

There are currently 93 condos on the market in Portsmouth with an average listing price of $360,282 and 144 days on market.

Based on information from the Northern New England Real Estate Network, Inc. for the period January 1, 2007 to January 31, 2008.