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October Sees 13 Million-Dollar Home Sales on Seacoast

Seacoastonline, Posted Nov 14, 2019 at 6:41 PM

PORTSMOUTH -- For the second time in three months a record monthly high-end sales volume of million-dollar homes was in the Seacoast Board of Realtors 13 sample Seacoast towns.

The towns are Exeter, Greenland, Hampton, Hampton Falls, New Castle, Newfields, Newington, North Hampton, Newmarket, Portsmouth, Rye, Seabrook and Stratham.

Thirteen sales topped the million-dollar mark in October, breaking the old record of 12 set in August. The transactions included two sales more than $2.2 million, both on the ocean, one in Seabrook, the other in Rye. Those closings pushed the monthly median sale price to $510,000, highest since May and the fourth time this year that median prices have exceeded $500,000.

For the first 10 months of 2019 total sales are up 3.2% as is the median sale price of $480,000, a 3.2% improvement from last year.

Still, it was the slowest month since April for single family sales, which fell 7. 8% from last month and 20.1% from last year. Condominium sales, conversely, pretty much stayed the course, with monthly volume exceeding September totals by three, but trailing last year by three.

Condo sales for the year are off 5.7% but the median sale price is up 4.2% at $333,000.

Available inventory has become an issue again with inventory off 9.9% from last year at 318 units, lowest since May.

“Despite declining single-family sales, our real estate market continues to be a solid performer,” said Kathy Ahlin, president of the Seacoast Board of Realtors. “Nothing says ‘consumer confidence’ more than record high-end sales.”

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