October 2024
High-end sales pace sluggish November real estate market
PORTSMOUTH-October high-end single-family sales in the 13 Sample Seacoast Towns set a new October volume record, pacing the slowest month for real estate since May, according to statistics just released by the Seacoast Board of Realtors.
The 13 Sample Seacoast Towns are Exeter, Greenland, Hampton, Hampton Falls, New Castle, Newfields, Newington, North Hampton, Newmarket, Portsmouth, Rye, Seabrook, and Stratham.
The 30 sales of homes priced at $1 million dollars or more represent about 45% of the month’s 67 sales. On the opposite end of the spectrum, there were seven sales of homes priced at $400,000 or less, the most since May 2023.
The month’s biggest sales came in Hampton, Rye and North Hampton, where the top sale occurred at 00 Ocean Boulevard. The property is a 19-room, 7-bedroom, 11-bath, 13,449 -sf, ocean view 1885 mansion on more than an acre of land that closed at $10,500,000. This becomes the largest all-time sale in North Hampton.
Sales were up 4.6 % from last year and the median price of $903,500 is up 34.8% from 2023 and only the second time in 2024 that the median has topped $900,000. For the first 10 months of 2024 sales are up 7.9% and the median of $813,500 is up 11.67% from 2023.
Condominium sales were up 24.4% from last year and the median of $540,050 is up 3.8% from 2023. The Top Three sales were all in Portsmouth as they were last month. The biggest was a 3-bedroom unit at 16 Porter Street that closed for $2.1 million dollars.
For the year sales of condominium units are up 8.4% and the 10-month median of $591,450 is up 6.9%.
“Despite the slow month, other indices were solid for seacoast real estate,” said Seacoast Board of Realtors President Lynn Lagasse.