July residential sales hit three-year high on Seacoast

A sign that market ‘is in full recovery’

July was the busiest sales month in at least three years on the Seacoast, according to statistics from the Seacoast Board of Realtors.

According to the board’s monthly survey of 13 Seacoast communities, there were 146 residential sales in July, shattering the record of 132 sales that was set in July 2013. The median monthly sales price of $410,000 also breaks the old record of $387,450, set in June.

The $370,000 cumulative median sales price for the first seven months through July is up 5.7 percent from a year ago, according to the board. 

July also was the best month for condominium sales volume since last July, although sales were off by 4.4 percent from a year ago. The monthly median sales price dropped 2.2 percent from June to $230,750, according to the board.

However, the median condo sales price for the first seven months of the year – $234,250 – is up 4.1 percent from a year ago.

Adding to the positive news, there were 556 available single-family homes for sale in July – the most for any month in 2014 and 5.5 percent ahead of last year. Available condo units also reached an annual high for the year that exceeded 2013 totals by 23 percent

Board President Tom Heany of Keller Williams Realty was ebullient about the numbers, saying they show “the Seacoast real estate market is in full recovery.”

“It’s great to see that July featured records both in the total number of properties sold and single-family homes selling at a median price of $410,000. But for sustainable growth, the good news is that we are seeing a rising inventory of available homes for sale.”

Categories: Real Estate & Construction