RECORD HIGH-END MARKET SALES LEAD JUNE REAL ESTATE MARKET
PORTSMOUTH — A record monthly volume of million-dollar-plus single-family sales in June produced the strongest month for real estate sales since August 2022 in the 13-Sample Seacoast Towns, according to statistics just released by the Seacoast Board of REALTORS®.
The 13 Sample Seacoast Towns are Exeter, Greenland, Hampton, Hampton Falls, New Castle, Newfields, Newington, North Hampton, Newmarket, Portsmouth, Rye, Seabrook, and Stratham.
While June was the biggest month for real estate in 10 months, the 86 closings was a record monthly low for June. There were only 86 active listings as July began, the fewest ever for this time of year. The thirty-two $1 million-dollar-plus sales helped bring the monthly median sale price up to an all-time monthly record of $804,500.
The biggest sale for the month was also the biggest sale for the year at 16 Atlantic Avenue, North Hampton, at $7 million dollars. The biggest condo sale came at 50 Maplewood Avenue, Portsmouth, for $1.765 million.
Total single-family sales for the first six months of 2023 are off 16.6% from last year, although the median of $700,000 is up 6% from 2022.
It was the strongest month for condominium sales since September 2022. The 61 transactions were bolstered also by an all-time monthly high eleven $1 million-dollar-plus sales. The median sale price for the month was $556,000, highest in three months.
Yet sales were off 14% from last year, thanks in part to near-June record low inventory. As July began, there were 76 active units for sales — one more than last year, which was a record June low.
For the year, condominium sales are off 15.9%, but the median of $549,461 is up 4.6% from last year.
“Pent-up demand remains robust in the Seacoast,” said Jessica Ritchie, Seacoast Board of Realtors President. “We have a supply and demand issue that continues to spur selling prices to record levels.”
June 2023
