16 homes sold in Portsmouth in May 2009 with an average sales price of $289,598, which was a 5% discount from last asking price on average. A year ago there were 9 home sales reported with a higher average sales price of $301,036. It is notable that the sales prices of 15 of the 16 sales reported in May were under Rockingham County’s FHA mortgage limit of $523,750. There were 11 pending home sales contracts reported in Portsmouth in May with an average listing price of $359,909. (more…)

There were a total of 20 homes listed for sale in Portsmouth during the month of April with an average listing price of $694,780. There are currently a total of 52 homes for sale in Portsmouth, which is approximately a four and a half month supply of inventory.

Twelve homes sold in Portsmouth in April with sale prices ranging from $168,000 to $560,500 for a home in the Woodlands. As a point of comparison there were thirteen sales in April 2008. The average selling price in April was $333,750, which was a slight discount from the average listing price of $342,792. The average time on market was 158 days. There were a total of 12 pending home sales contracts reported in April, and it is notable the average days on market for the pending sales was down to 67 days. It is also notable that the average pending sale price reported was $343,211. (more…)

Home sales were up slightly in Portsmouth during the month of March with eight sales reported, which was up slightly from last March. Pending sales were right on par with 2008 numbers with nine new sales contracts reported.

Portsmouth’s average sales price for single family homes was $332,875.  The discount from list price to sell price stayed in the single digits with sold homes coming in at an average of 93% of the last listing price.

There are currently 52 homes for sale in Portsmouth. The average listing price is $504,083, with an average of 122 days on market. 19 homes were listed for sale in Portsmouth with an average asking price of $493,516. Homes in Portsmouth currently range in price from $179,900 for a 1BR/1BA ranch to a 6BR Georgian for $2,250,000. (more…)

There are currently 57 single family homes for sale in Portsmouth (approximately one month ago there were 59).

There are currently 13 homes under contract in Portsmouth (approximately one month ago there were 6).

Since Sept 1, 2008 through March 4 2009, there have been 50 single family home sales in Portsmouth which means over the past 6 months, the average has been about 10 homes selling per month and that average goes down to 7 homes per month from November 1, 2008 through March 4, 2009.

However, the numbers drop significantly starting January 1, 2009…since the beginning of the year there have only been 9 single family sales…there were 6 in January and 3 in February.

The average number of days on market for homes that sold during this most recent 4 month period is 114 days, or just over 3 months.  By comparison, in a more “healthy” market, we see average time on market closer to 60 – 80 days.

The homes that sold during this time frame (Nov. 08 – early March. 09) sold, on average, within 94% of the asking price.

Based on information from the Northern New England Real Estate Network, Inc.

There were 3 single family home sales in Portsmouth, NH during February 2009:

February 2009 Portsmouth, NH home sales:

246 Concord Way sold for $176,500
999 Woodbury Avenue sold for $160,000
109 Ash Street sold for $415,000

There were 2 condominium sales in Portsmouth, NH during February 2009:

February 2009 condominium sales:

25D Albacore Way sold for $309,900
1177 Sagamore Avenue sold for $569,000

How do 3 home sales and 2 condo sales compare to the level of activity we were seeing a year ago in February 2008?  A year ago, there were 7 single family sales in Portsmouth and 11 condo sales during the month of February.  Comparing this year to last, it is apparent the number of transactions is down, which is certainly a reflection of the changes in the economy which we have experienced in the past year.

The good news is that there is life out there, the number of pending transactions is evidence there are buyers taking action and sellers are willing to play ball.  Looking at Portsmouth market statistics as of today, there are 13 single family homes and 13 condominiums that are currently under contract.  If contingencies are met, for example if home inspections are satisfactory and loans are approved, then these transactions in the pipeline will likely translate to sales in the next 30 – 60 days.

Based on information from the Northern New England Real Estate Network, Inc. for the period of February 1, 2009 through February 28, 2009.

There were 8 single family home sales in Portsmouth, NH during December 2008:

December 2008 Portsmouth, NH home sales:

201 US Route 1 Bypass sold for $72,000 (listed at $79,500)
472 R Middle Road sold for $80,000 (listed at $87,000)
592 Dennett Street sold for $305,000 (listed at $319,900)
54 Rogers Street sold for $335,000 (listed at $348,000)
6 Harding Road sold for $345,000 (listed at $359,900)
246 Holly Lane sold for $354,000 (listed at $369,900)
33 Hunking sold for $373,000 (listed for $375,000)
65 Wentworth sold for $410,000 (listed for $465,000)

The first two homes on the list were bank owned properties.

The average number of days on market for these homes (that sold during December 2008) was 122 days.  These homes sold, on average, within 95% of the asking price.

In terms of comparison, in December 2007, there were 10 single family home sales, averaging 89 days on market, and the properties were selling within 92% of the asking price.

Based on information from the Northern New England Real Estate Network, Inc. for the period of December 1, 2007 through December 31, 2007 and December 1, 2008 through December 31, 2008.

There were just three condo sales reported in Portsmouth in December:

6 McDonough Street, Unit 6, Portsmouth NH, 2BR, 1BA, sold for $190,000.
14 Echo Ave, Unit 14, Portsmouth NH, 2BR, 2BA, sold for $226,900.
699 Middle Street, Unit 3, Portsmouth NH, 2BR, 2BA, sold for $290,000.

The average condo sales price was $235,633. The sales price was 99% of the listed price on average, and the average time on market was 204 days. There were four pending condo sales contracts reported in December, with an average listing price of $299,950. There are currently 84 condos for sale in Portsmouth. The average asking price is $438,305, and the average age of inventory is 197 days.

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

On average houses in Portsmouth sold for 95% of the last asking price. The average selling price was $284,250. There were eight houses that came on the market in Portsmouth in December with an average listing price of $497,475. There were 5 pending sales reported with an average listing price of $285,240. There are currently 49 houses for sale in Portsmouth.

Eight homes sold in Portsmouth during the month of December:

201 US Route 1 Bypass, Portsmouth NH, 2BR, 1BA, sold for $72,000.
472R Middle Road, Portsmouth NH, 2BR, 1BA, sold for $80,000.
592 Dennett Street, Portsmouth NH, 3BR, 1BA, sold for $305,000.
54 Rogers Street, Portsmouth NH, 2BR, 2BA, sold for $335,000.
6 Harding Road, Portsmouth NH, 4BR, 3BA, sold for $345,000.
246 Holly Lane, Portsmouth NH, 3BR, 3BA, sold for $354,000.
33 Hunking, Portsmouth NH, 3BR, 1BA, sold for $373,000.
65 Wentworth, Portsmouth NH, 3BR, 2BA, sold for $410,000.

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

Condos & Townhomes Sold in Portsmouth NH – November 2008.

There were a total of six condos that sold in Portsmouth in November:

401 State Street, Portsmouth, NH (The Rockingham) Sold for $250,000
199 Lincoln Ave, Portsmouth, NH Sold for $295,000
25 Albacore Way, Portsmouth, NH (Atlantic Pointe) Sold for $309,900
605 Lincoln Ave, Portsmouth, NH Sold for $394,000
433 Lincoln Ave, Portsmouth, NH Sold for $407,000
135 Market Street, Portsmouth, NH (Waterview) Sold for $551,500

The average condo sales price was $367,900. The sales price was 98% of the listed price on average, and the average time on market was 90 days.  Transaction volume was down significantly from the same period a year ago. November 2007 saw more than double the transaction volume with 14 condo sales reported in Portsmouth. There were five pending condo sales contracts reported in November, with an average listing price of $437,320.

Current Condominiums For Sale In Portsmouth

There are currently ninety-one condos for sale in Portsmouth. The average asking price is $436,893, and the average age of inventory is 191 days.

Based on information from the Northern New England Real Estate Network, Inc. for the period November 1, 2007 to November 30, 2008.

During November 2008 there were 11 home sales and 6 condominium sales in Portsmouth:

Portsmouth, NH home sales:

225 Wibird Street sold for $580,000
321 Dennett Street sold for $485,000
565 FW Hartford Drive sold for $475,000
569 Middle Street sold for $419,000
307 Wibird Street sold for $380,500
130 Nathaniel Drive sold for $370,000
66 Coakley sold for $360,000
37 Harrison Avenue sold for $355,000
311 Cabot Street sold for $337,500
3 Mariette Drive sold for $249,400
214 Concord Way sold for $218,000

Portsmouth, NH condominium sales:

135 Market Street, unit A, sold for $551,500
433 Lincoln Avenue sold for $407,000
605 Lincoln Avenue, unit 1, sold for $394,000
25 Albacore Way, unit A, sold for $309,900
199 Lincoln Avenue, unit 3, sold for $295,000
401 State Street, unit J212, sold for $250,000

This compares to 15 house sales and 14 condo sales during November 2007.  While the number of transactions is down this year compared to last, it is noteworthy that the average time on market for the properties that sold in November 2008 was considerably less than the average time on market for the properties that sold in November 2007.  For example, the average days on market for the Portsmouth homes that sold in November 2008 was 78 days versus 117 days in November 2007.  Along the same line, the average number of days on market for Portsmouth condos in November 2008 was 90 days versus 185 days in November 2007.  To that end, it is significant that the percentage of asking price versus selling price has increased, since last year, in both single family homes and condos.  Looking at the numbers, on average, the homes in Portsmouth that sold during November 2008 sold within 96% of the asking price and the condos sold within 98% of the asking price.  A year ago, in November 2007, these percentages were 95% for both single family homes and condominiums.

Last year, properties were lingering on the market for much longer periods of time and, a year later, although there may be less transactions, the sales that are happening are occurring at a quicker pace and there is less room for negotiation. This suggests that perhaps sellers in today’s market have adjusted their expectations accordingly and buyers, recognizing decent value, are willing to pay.

Based on information from the Northern New England Real Estate Network, Inc. for the period of November 1, 2008 through November 30, 2008.