May Closed and Pending Home Sales Volume Down 50 Percent In Portsmouth NH
June 1st, 2008by Michael Bean
Portsmouth NH Housing Market Report for May 2008.
The number of homes sold in Portsmouth this May was down 50% from a year prior. 9 single family homes sold last month with an average sales price of $301,036 and an average of 109 days on the market. The homes sold for an average of 97% of the asking price. As a point of comparison there were 13 homes sold in Portsmouth in April with an average sales price of $431,750. In May 2007 there were 18 sales averaging $405,958. The number of pending sales contracts reported was less than half last years level with just 13 pending home sales in May.
May 2008 Home Sales In Portsmouth NH
- 52 Porpoise Way (Atlantic Heights), Sold for $202,000
- 192 Raleigh Way (Atlantic Heights), Sold for $224,800
- 31 Wilson Road (Elwyn Park), Sold for $279,523
- 23 Harrison Ave (Elwyn Park), Sold for $260,000
- 20 Taylor Lane (Elwyn Park), Sold for $274,000
- 4 Melbourne, Sold for $365,000
- 27 Thaxter Road, Sold for $350,000
- 4 Blue Heron Drive (Osprey Landing), Sold for $365,000
- 208 Willard Ave, Sold for $389,000
For Sale – Current Portsmouth Home Inventory:
There are currently 75 homes for sale in Portsmouth, NH which represents about six to eight months worth of inventory. The average listing price is $559,205 and the average time on market is 94 days. In May there were 24 homes that came on the market in Portsmouth with an average listing price of $418,645, down from April when there were a total of 35 new listings with an average price of $433,449.
Notable New Listings in Portsmouth:
At the high end of the market a resale home in Tucker’s Cove came up for sale, as did an antique Federal on Maplewood Ave.
Based on information from the Northern New England Real Estate Network, Inc. for the period May 1, 2007 to May 31, 2007 and May 1, 2008 to May 31, 2008.
