Portsmouth, New Hampshire Activity – Homes and Condominiums (10/31/09)

Single Family Homes - There are 68 homes on the market with a DOM (average days on market) of 110 days. The average listing price is $612,362. 9 homes are under contract and the average listing price was $351,711.  These homes were on the market for 123 days.

105 homes have sold in 2009 at an average selling price $346,533.  These homes sold for 95% of the listing price with an average DOM of 98.  In 2008, there were 107 homes sold through October with and average selling price of $357,230.  The list-to-sell percentage was 96% and the average days on market were 109 days.  This is a current snapshot of the Portsmouth NH real estate market.

These statistics point to the first-time home buyers taking advantage of the $8000 tax credit.   The middle and higher end homes are not selling quickly and there are fewer of them.  The move-up and downsizing market has stalled due to the economy.  Visit Portsmouth NH Homes for Sale for a map based search of real estate currently on the market.

Portsmouth - Three Year Trend

Condominiums - 93 Condominiums are currently on the market with an average listing price of $474,648 and a DOM of 166. 13 units are pending at an average listing price of $538,804 and a DOM of 135.  An interesting comparison is the average listing price for pending condos is higher than single family homes.

There were 76 condos sold YTD in Portsmouth with an average selling price of $274,199 and a DOM of 158. The list-to-sell percent was 95% as the average listing price was $288,916. This is a 29% decline in units sold as compared to 2008.  Buyers are taking advantage of Portsmouth NH foreclosed condominiums which are more available than in past years.  In 2007, 136 condos sold at an average price of $311,473.  The downward trend indicates a “loss in value” of -13% since 2007.

Units Sold, Days on Market

Information was obtained from the New Hampshire MLS system (NNEREN) and is not guaranteed to be accurate.