January Sees Sales Of Entry Level Homes
February 1st, 2007by Michael Bean
Portsmouth NH – January 2007
Single Family Home Market Report
January kicked off 2007 with 17 homes that were new to the market in Portsmouth. The new to market properties had an average asking price of $403,894, increasing the offered inventory by $6,866,200.
In January 17 homes were put under contract for sale totaling $4,484,400 at an average offer price of $263,788 after being on the market for an average of 80 days. 12 properties closed in January for a total selling price of $3,416,300 with an average selling price of $284,692. The homes that sold were on the market for nearly three months (an average of 86 days) and sold for an average of 96.7% of asking price.
The majority of the sales action in January was focused on the entry level home market range for Portsmouth and properties were sold for within 5% of asking price. Three sales in the Atlantic Heights neighborhood under $200,000 contributed to the low average sale price. The high water mark was set by the sale of a Circa 1804 Federal on Haymarket Square for $685,000.
Based on information from the Northern New England Real Estate Network, Inc. for the period January 1, 2007 to January 31, 2007.
