Seacoast real estate sales slide amid declining inventory
November single-family transactions off 4.5% from 2016
With inventory continuing to plunge, sales of single-family homes in November on the Seacoast continue to fall as well, according to the Seacoast Board of Realtors.
The Realtors, who report on sales in 13 sample Seacoast municipalities, reported that single-family inventory reached its lowest level since April, off 19.1 percent from a year ago. In addition, the 84 sales reported were also the lowest since April, the fourth straight month-over-month decline, but just 4.5 percent behind November 2016. Meanwhile, the monthly median sales price reached $462,000, the second-highest for the year and a 2 percent gain over a year ago.
As for condominiums, inventory was off by 26.1 percent from a year ago, the lowest level since December 2016. And while the 57 recorded transactions were the lowest since July, the Realtors said, that was still 16.3 percent ahead of 2016.
Interestingly, the monthly median sale price of $309,000 actually fell by 5.6 percent from 2016.
For the year, the median price of a single-family home is up 8.1 percent, to $445,500, with total sales volume declining 5.1 percent. Condominiums sales are up 3.4 percent and median sale price is up 12.7 percent, to $301,500.
The Realtors’ 13 sample Seacoast communities are Exeter, Greenland, Hampton, Hampton Falls, New Castle, Newfields, Newington, North Hampton, Newmarket, Portsmouth, Rye, Seabrook and Stratham.