Portsmouth New Hampshire Real Estate – How’s the Real Estate Market?

              Portsmouth
New Hampshire Real Estate Market Update

How‘s the
real estate market in Portsmouth NH? 

I run into plenty of people who are always interested in knowing how the
real estate market is in Portsmouth NH.  Many of them read in
the papers and hear on the national news that the market stinks, it’s lousy
market, blah, blah…..

Real estate is so very local, and I always make sure to let people I
talk to know that.  Here in my areas in the Seacoast towns of New Hampshire and
southern Maine, we’ve picked up dramatically in the last 4-6 weeks, with loads
of appointments, lots of buyers deciding this really is a great time to buy, and
sellers wanting to sell who are really tuned into today’s market and are
realistic in their pricing expectations.

So, how’s the real estate market doing in Portsmouth New
Hampshire?  Well, here’s the scoop since the beginning of the
year:  

Portsmouth New Hampshire Homes Real Estate Market Update:      

– Since January
1st, we’ve had 112 homes come on the market for sale, with an average asking
price of $444,111.  We have 85 homes currently for sale in
Portsmouth, and the average asking price of those homes currently for
sale is $542,071.

– In that same time period, we’ve had 39 homes sell.  The
average asking price of those homes that sold was $368,654, and the
average selling price was $351,360.  The average days on the market for
those homes was 122 days, and on average, sellers have been receiving almost
95.5% of their last asking price.

– We currently have 46 Portsmouth homes that are sale
pending, and the average asking price of those homes was $393,359.

– In some neighborhoods in Portsmouth, such as the Little Harbor Area, homes
that come up for sale there are getting a high number of showings very quickly,
and then within a few days of the homes coming on the market, there have been
multiple offers and the selling prices have been at or very close to the asking
price.  A few have actually sold over the asking price since the beginning of
the year.  Clearly, there’s a pent-up demand for homes in this
area.

 

Portsmouth New Hampshire Condos Real Estate Market Update:

Since January
1st, we’ve had 98 condos come on the market for sale, with an average asking
price os $355,965.  We currently have 90 condos for sale in
Portsmouth, and the average asking price of those condos is
$359,519.

Since the beginning of the year, we’ve had 54 Portsmouth condos
sell.  Those condos had an average asking price of $349,672,
and an average selling price of $336,224.  The average days on the
market for those condos sold was 135 days, and sellers received an average of a
little over 96% of their last asking price.

We currently have 62 Portsmouth condos that are sale pending,
and most of those will be closing within the next 30 days or so.  The average
asking price of those condos was $340,858.

 

 So, what do all these numbers mean? 

Well, if you look at the number of condos in Portsmouth that
are sale pending, and the number of homes in Portsmouth that
are sale pending, each of those numbers are higher than the total number
of homes sold in almost 6 months and higher than the total number of condos sold
in the last 6 months.

Portsmouth NH Homes sold in the last 6
months  —  39
Portsmouth NH
Homes currently sale pending      — 
46

Portsmouth NH Condos sold in the last 6 months  — 
54
Portsmouth NH Condos currently sale
pending      —  62

If you ask me, that’s some awesome news about the
Portsmouth NH Real Estate market!  And I’m thinking
that the buyers I’m working with are right – this is a FABULOUS time to get into
the Portsmouth real estate market if you’re thinking about buying, or have been
waiting for the best time to buy.  There just may never be a better time than
right now!

  

Are you looking to buy condos or homes in the
Portsmouth New Hampshire area? 
If so, send me
an email or give me a call - I’d love to help you find just the right home
for you!
Portsmouth NH is an AWESOME place to call home!!

  
 

     
   
   

                                  
 
Ann Cummings, New Hampshire and Maine REALTOR
  RE/MAX Coast
to Coast
  Portsmouth NH
  ann@anncummings.com
 
888-349-5678 x 3839
  Servicing the Coastal
Areas of NH & Southern Maine