Portsmouth NH Homes and Condos Real Estate Market Update - September 2008

Portsmouth NH Real Estate Market Update - September 2008

Real estate is always one of the topics of conversation wherever we go, because who isn't interested in real estate and how markets are doing! Someone is always looking to buy a home, sell a home, or they know someone thinking about buying or selling real estate of some sort.

Home sellers and home buyers in Portsmouth NH are no different, and I get asked about the New Hampshire real estate market all the time. I love real estate, and helping people buy and sell homes and condos, so I never tire of real estate conversations!

Here is how the real estate market here in Portsmouth did for the month of September 2008:

• We currently have 82 homes listed for sale through the Multiple Listing System (MLS), with the average asking price being $369,450. There were 23 new listings on homes that came on the market for sale during the month of September. The average days on the market for these homes for sale is 114 days.
  
  
• During September, we had 12 Portsmouth NH homes go under agreement or sale pending. The average asking price of those sale pending homes was $340,708, and the average days on the market for those homes was 57 days.
  
  
• We had 17 homes in Portsmouth sell during September, and the average sold price of those homes was $322,053. The average days on the market for those sold homes was 114 days. Sellers, on average, received 94% of their last asking price.
  
  
• During the month of September, we saw the listings on 9 homes in Portsmouth expire without selling. Most likely these listings didn't sell because of price - not being priced correctly for the current market, and buyers not seeing those homes as being a good value for the asking price.

The numbers above are showing us an absorption rate for homes in Portsmouth NH to be just under 5 months. The absorption rate tells us how long it would take to absorb the current inventory of homes for sale in Portsmouth NH if no other homes came on the market for sale. This month's absorption rate has improved over August's absorption rate for Portsmouth NH homes.

Thinking about making Portsmouth New Hampshire your home? Call me today at 888-349-5678 x 3839, or send me an email at ann@anncummings.com, and let's talk real estate!

Related Reading:

Seacoast New Hampshire Real Estate Market Reports
Absorption Rates and Why They're Important to Know

Ann Cummings, New Hampshire REALTOR
RE/MAX Coast to Coast
Portsmouth NH
ann@anncummings.com
888-349-5678 x 3839
Servicing the Coastal Areas of NH & Southern Maine