Seacoast real estate sales remain firm in first weeks of coronavirus

Inventory drops to record low as median single-family price hits $510,000

Despite the onset of the Covid-19 pandemic and a free-falling stock market, real estate sales on the Seacoast surged in March, according to the Seacoast Board of Realtors.

But on the flip side, inventory levels reached record-low March monthly totals for both condominium and single-family sales.

Nevertheless, single-family sales more than doubled from February to 79 transactions. The March median sale price of $510,000 was the highest thus far for 2020 and the highest since last May.

As for condo sales, total sales were up 80% from February and 44% from March 2020. The March monthly median sale price was $350,000, up $15,000 from last year.

For the first three months of the year, single-family sales are off 5% while the median sale price is up 6% to $489,500. Condominium sales have improved a robust 30.3% and the median sale price came in at $349,000, up a solid 18.3%.

The Realtors survey 13 Seacoast communities monthly. Those communities are Exeter, Greenland, Hampton, Hampton Falls, New Castle, Newfields, Newington, North Hampton, Newmarket, Portsmouth, Rye, Seabrook and Stratham.

Categories: News, Real Estate & Construction
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