PORTSMOUTH — February sales of single-family homes in the 13-sample
Seacoast towns attained record low levels amid rising interest rates and
other inflationary pressures.

The 13 sample Seacoast towns are Exeter, Greenland, Hampton, Hampton
Falls, New Castle, Newfields, Newington, North Hampton, Newmarket,
Portsmouth, Rye, Seabrook, and Stratham.

February is a month traditionally associated with lack of real estate activity.
But the 26 sales recorded last month was the fewest for any month since
the Seacoast Board of REALTORS® began keeping records in 2010.

Only four sales reached or exceeded the $1 million dollar level with the
highest coming at 10 Prospect Street Portsmouth at $2,435,000.
Still, the median sale price improved $27,000 from last month to $637,000,
up 5.9% from last year. The market is now down 6.2% for the first two
months of the year.

Condominium sales came in almost exactly where they did last year at 26
transactions (vs. 25 in 2022). The February median sale price was
$454,600, a drop of more than $200,000 from last month’s record monthly
high of $661,898, off 3.2% from last year. Total 2023 condominium
volume is off 33.8% from the first two months of last year.

“We are seeing the blend of interest rates, rising prices and modest
inventory, all attributing to slow the market,” said Seacoast Board of
REALTORS® President Sandy Healy. “February is historically the slowest
month of the year for real estate.”