PORTSMOUTH — Last month's single-family and residential condominium sales in 13 sample towns from the Seacoast enjoyed their best January in at least three years.
According to the Seacoast Board of Realtors, the 52 single-family sales in the month exceed 2011 totals by 40 percent, while the 29 condominium units transferred represent a 70 percent improvement from January 2011.
The 13 sample towns are Seabrook, Hampton Falls, Hampton, North Hampton, Rye, New Castle, Portsmouth, Newington, Greenland, Stratham, Exeter, Newfields and Newmarket.
Across the board, sales exceeded last year's numbers in both categories, except for sales above $1 million. No high-end sales were recorded for the month.
January and February sales normally represent the least sales activity for the year. But spring-like weather may have helped produce March-like results. Condo totals were up 11.5 percent from December, while residential units decreased by 14.8 percent from December, when 61 units were closed.
"Without a doubt, the favorable weather conditions are helping the Seacoast real estate market, especially compared to a year ago at this time," said Lauren Kane, president of the Seacoast Board of Realtors. "The residential sales decline for January is not cause for alarm. The average sales contract takes 30 to 45 days to close, and shoppers were likely busier with the holidays than their home search in December."
January's pending sales for both single-family homes and condos are up slightly from a month ago and there are fewer condo listings, which should help values, Kane said.
"Overall, both are encouraging signs that the market is moving in the right direction," she said.
Source: http://www.seacoastonline.com/apps/pbcs.dll/article?AID=/20120209/BIZ/202090377/-1/NEWSMAP
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