Portsmouth, NH Real Estate Market Snapshot

A market snapshot gives a “moment in time” view of how a real estate market is performing and which way the trends are. Portsmouth NH Real Estate Market Report Below :

In Portsmouth today the real estate market snapshot looks like this:

Portsmouth NH real estate market snapshot

Portsmouth NH real estate market snapshot

The median sold price was  $496,750 year to day in Portsmouth. 

The median price of new listings coming on the market is $529,950

The inventory is currently 61 active listings of single family, condos, and multi family homes.

 

 

 

The current absorprtion rate in Portsmouth is 7 months. That means at the current rate of sales it will take 7 months to sell all the current properties for sale assuming n new listings come on the market. The absorption rate is an important indicator of the health of the market and whether it favors buyers or sellers. Less than a 6 months supply of homes means a seller’s market with sellers having the advantage. That is usually characterized by low inventory or listings for sale.

More than 6 months means it’s taking longer to sell homes and that sort of market typically tilts in favor of buyers.

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Seven months is on the cusp and is for all practical purposes a balanced market with neither buyer or seller having an advantage. That could change quickly for a variety of reasons.

One big factor in home sales is current interest rates. Although interst rates for home mortgages fluctuate daily; right now the average rates are 4% fixed.

We’re happy to furnish you a month market report for Portsmouth and several other Seacoast towns including Dover, Kittery, Exeter, Rye, and others.

Just CLICK HERE, select your town, and we’ll do the rest.

We know all these numbers and data can be both overwhelming and confusing. If you have any question or would like a more detailed analysis custom tailored to your situation we’re happy to prepare that for you.

Questions? email or call Ann and Jim, your New Hampshire Seacoast and southern Maine real estate experts.

Our direct number is 603-436-1221.

 

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