Seacoast Market Watch 2019 YEAR IN REVIEW
Beach Club
Rye Beach
Welcome to Seacoast Market Watch 2019 Year In Review. We are very proud to provide you with this comprehensive look at the Seacoast real estate market. We appreciate all of the positive feedback these semi-annual reports have generated and are pleased that they are considered an industry standard. It has been another highly successful year for our team. Not only did we have the highest average sale price ($822,877), which was nearly $200,000 greater than any other Seacoast real estate office, but we were also involved with the most significant sales in many towns throughout the greater Seacoast area. As you might expect, we recorded the largest sale in Rye Beach. But we also brought home the highest prices in Exeter, Brentwood and Newfields. And, yes, we were also involved with important transactions in New Castle, Portsmouth and Kittery Point, Maine—to name a few. We continue to seek cutting-edge ways to market property, to maintain the highest levels of professionalism and remain a strong market force in an ever-competitive real estate environment. We strive to deliver the same high standard of Sotheby’s service and professionalism to every Tate & Foss Sotheby’s International Realty customer, whatever their real estate needs. From first time homebuyer to the highest levels of the luxury market, our goal is consistent: be the best. We at Tate & Foss Sotheby’s International Realty thank you for your past support and look forward to serving you in the future. We wish you a happy, healthy and prosperous 2020. Enjoy this issue of Seacoast Market Watch, Anthony Jalbert Principal Broker
1 • MARKET WATCH ©
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Offered for Sale
Sections 3 5 7 9 11 13 15 17 19 21 23 25 27 29
152 Harbor Road, Rye
Key Observations
SEACOAST OVERVIEW PORTSMOUTH AREA THE HAMPTONS EXETER AREA DOVER AREA DURHAM AREA SEACOAST LAKES AREA ELIOT & THE BERWICKS SO. YORK COUNTY COAST LUXURY WATERFRONT HISTORIC & ANTIQUE
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
• Inventory continues to decline to record low levels. • Prices are generally on the rise, but modestly. • All real estate is local. Volume changes and price fluctuation vary significantly from town to town. • Appreciation is not a given. • Demand for high-end homes has reached record levels. • Market performance seems to demonstrate strong consumer confidence. • Interest rates remain low.
FARM & EQUESTRIAN OUR TEAM
Pictured on Cover: Portsmouth NH Waterfront Most photography featured in this report courtesy of Mike Barron Photography and Clear Eye Photo
Special thanks to Chief Statistician/Sales Associate John Rice for his significant contribution. Data sourced from New England Real Estate Network (NEREN), analyzed by Tate & Foss Sotheby’s International Realty. NEREN does not guarantee nor is in any way responsible for its accuracy and the data maintained may not reflect all real estate activity in the market. All reproduction of data requires TFSIR’s written consent. BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT LIVESEACOAST.COM
© MARKET WATCH • 2
Seacoast Overview
Exeter • Greenland • Hampton • Hampton Falls • New Castle • Newington • Newfields Newmarket • North Hampton • Portsmouth • Rye/Rye Beach • Seabrook • Stratham
2019 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$494,466 Number of Homes Sold
1754 Days on Market
53 3 • MARKET WATCH ©
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The last six months of 2019 in the 13 Sample Seacoast Towns* saw a leveling off in the pace of singlefamily sales. Typically, the market begins to cool in the fall, but numbers for each of the last four months of the year were nearly the same. The summer began optimistically with 142 sales in June, the highest monthly volume to be seen in 26 months. It was also the strongest month ever for homes priced in the $400,000-$700,000 range, signaling a steadily increasing average and median sale price for the area. By year’s end, the median sale price of a single-family home had climbed 4.1% to $479,000. The condominium median sale price reached $332,000, a 4.7% gain. Both were new records. A driving force behind all of this was the high-end market which set a new monthly volume record of 12 plus-million-dollar sales in August. That record was broken in October, demonstrating remarkable consumer confidence in the value of local real estate. Inventory, which has declined in the past three years, appeared to be a non-issue in June as available housing stock seemed to level off, then increase. However, November inventory levels were the lowest ever for that month. December inventory was the lowest of any month ever. As 2019 ended, sales volume was up 5.4% for single families and 1.2% for condominiums. Only the Greater Portsmouth Area registered an overall decline in sale prices, though the $641,605 average and $525,000 median were the highest in any market. With interest rates low and sales activity steady, the real estate scene appeared poised for another strong year, inventory levels notwithstanding. *13 Sample Seacoast Towns listed under photo on page 3 BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT LIVESEACOAST.COM
© MARKET WATCH • 4
Greater Portsmouth Area
Greenland • New Castle • Newington • Portsmouth • Rye • Rye Beach
2019 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$641,605 Number of Homes Sold
558 Days on Market
55 5 • MARKET WATCH ©
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Greenland
2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
92 65 $542,253 $553,750 $1,650,000
70 42 $515,725 $422,500 $1,195,000
Change -24% -36% -5% -24% -28%
New Castle
2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
17 134 $1,404,059 $1,032,000 $5,200,000
16 103 $1,537,344 $1,300,000 $5,000,000
Tax Rate: $15.79 Newington
2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
7 48 $674,407 $577,500 $1,800,000
7 121 $667,621 $725,000 $880,000
2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
85 91 $916,282 $700,000 $4,950,000
87 66 $835,659 $779,000 $1,800,000
Tax Rate: $10.60
-6% -23% 9% 26% -4%
Tax Rate: $6.00 Change 0% 151% -1% 26% -51%
Portsmouth
2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
341 55 $561,992 $482,500 $3,697,500
369 51 $549,646 $475,000 $2,500,000
Tax Rate: $9.27 Rye
Change
Change 8% -8% -2% -2% -32%
Tax Rate: $15.84 Change 2% -27% -9% 11% -64%
Rye Beach
2018
2019
Change
Number of Sales Days on Market Average Price Median Price Highest Price
3 7 $1,109,667 $1,075,000 $1,850,000
9 101 $1,902,444 $1,890,000 $3,600,000
200% 1340% 71% 76% 95%
Tax Rate: $10.60
The Portsmouth city council election stole headlines as 2019 ended, with only two incumbents reinstated. The change was spurred by disagreement over the direction of the impending McIntyre project. It signals a conservative attitude towards robust development in an already challenging regulatory environment. The election was also in part a reaction to rising real estate assessments and sale prices. The Greater Portsmouth Area had the region’s highest median sale price by far, although prices cooled 5% to $525,000. Truth be told, Portsmouth’s median of $475,000 is 2% less than last year and lower than all but Greenland. Regardless, Portsmouth has so much going for it—historic sites, restaurants, theater and solid employment opportunities (to name a few)—that demand to be downtown and “near the action” remains as firm as ever. With an average price of $1,537,344, New Castle recorded one of the state’s biggest sales ($5 million for 136 Wild Rose Lane), as it did last year. Tate & Foss SIR was involved with two of the top three sales here. Rye had another active year with median prices reaching $779,000, up 11% from last year. Tate & Foss SIR sold the historic Studebaker mansion for $3.6 million, the biggest sale in Rye and Rye Beach. Rye Beach had the highest average and median sale prices of any Seacoast Market Watch town. Conversely, Greenland registered a 5% decline in average price and 24% decline in median price. With sales off by 24% from last year, Greenland homes still took an average of just 42 days to sell. That was one of the shortest DOM (days on market) spans on the Seacoast and mute testimony to a $422,400 median sale price—lowest in the Greater Portsmouth Area. BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT LIVESEACOAST.COM
© MARKET WATCH • 6
The Hamptons
Hampton • Hampton Falls • North Hampton • Seabrook • South Hampton
2019 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$453,938 Number of Homes Sold
621 Days on Market
53 7 • MARKET WATCH ©
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Hampton
2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
335 60 $382,626 $365,000 $2,100,000
420 50 $396,823 $369,950 $2,300,000
Change
Hampton Falls
2018
2019
25% -16% 4% 1% 10%
Number of Sales Days on Market Average Price Median Price Highest Price
30 52 $569,106 $575,000 $1,145,000
33 77 $622,370 $604,500 $1,430,000
Tax Rate: $17.02 North Hampton 2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
72 57 $674,898 $615,000 $2,000,000
77 101 $733,789 $610,000 $2,840,000
2019
Number of Sales Days on Market Average Price Median Price Highest Price
8 83 $396,813 $372,500 $630,000
11 50 $557,600 $595,000 $750,000
10% 47% 9% 5% 25%
Tax Rate: $19.90 Change -6% -43% -8% 1% -30%
Seabrook
2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
87 53 $388,137 $365,000 $1,395,000
87 48 $489,017 $370,000 $2,800,000
Tax Rate: $16.24 South Hampton 2018
Change
Change 0% -10% 26% 1% 101%
Tax Rate: $16.25 Change -27% 67% -29% -37% -16%
Number of Sales in Hampton Up by
Tax Rate: $16.67
27%
Significant Sale: North Hampton $825,000 I October 2019 Listed & Sold by Tate & Foss Sotheby’s International Realty Spurred by the lure of oceanfront and Massachusetts proximity, a huge source of buyers here, the Hamptons logged a good year. Volume was up in three of five towns and median sale prices followed. Four of five towns saw hefty sale prices that exceeded $1.4 million. Still, three of those four towns— Hampton, North Hampton and Seabrook—experienced only a 1% improvement in median sale prices. Hampton Falls logged a 5% gain, the region’s largest, but South Hampton dropped off 37%. Only eight sales were recorded there, fewest of any Seacoast Market Watch community. By contrast, 420 homes sold in Hampton, second only to Dover and Rochester, traditionally the region’s busiest markets. With an average price of $396,829 and a median of $369,950, Hampton was the most affordable town in its market and far more so than any community in the Greater Portsmouth area. Seabrook easily had the region’s biggest sale at $2.8 million. The town remains a study in contrast between steadily escalating prices in beach areas and modest prices away from the shore. Oceanfront and low taxes drive this market which, nevertheless, finished with no change in sales volume from 2018. BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT LIVESEACOAST.COM
© MARKET WATCH • 8
Greater Exeter Area
Brentwood • East Kingston • Exeter • Kensington • Newfields • Stratham
2019 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$440,782 Number of Homes Sold
569 Days on Market
52 9 • MARKET WATCH ©
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Brentwood
2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
73 56 $390,350 $385,000 $660,000
61 41 $457,005 $462,650 $1,050,000
Change -16% -26% 17% 20% 59%
East Kingston
2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
32 34 $400,375 $404,500 $672,000
31 52 $383,468 $375,000 $615,000
Tax Rate: $25.83 Exeter
2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
244 46 $367,574 $339,000 $1,555,000
261 44 $393,163 $375,000 $2,188,888
2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
19 40 $490,550 $502,000 $710,000
25 106 $562,280 $551,100 $1,100,000
Tax Rate: $19.85
-3% 54% -4% -7% -8%
Tax Rate: $26.05 Change 7% -4% 7% 11% 41%
Kensington
2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
27 54 $473,650 $405,000 $944,410
29 46 $525,231 $452,500 $784,200
Tax Rate: $27.50 Newfields
Change
Change 7% -16% 11% 12% -17%
Tax Rate: $18.55 Change 32% 165% 15% 10% 55%
Stratham
2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
189 45 $445,557 $425,000 $1,650,000
162 61 $488,495 $454,875 $1,898,000
Change -14% 37% 10% 7% 15%
Tax Rate: $21.00
Significant Sale: Stratham $1,120,000 | October 2019 Sold by Tate & Foss Sotheby’s International Realty Greater Exeter was one of the last markets to recover from the Great Recession of 2008, but it’s safe to say that it is “back.” The area saw a jump of 8% in average sale price and a 7% improvement in median sale price. Exeter recorded its biggest sale in years, the magnificent Amos Tuck House on High Street for $2,188,888. A powerful influence on this market is Phillips Exeter Academy and parents who “come from away” and spare little expense in buying property to be near their children. Be that as it may, the Amos Tuck House was one of three Tate & Foss SIR listings that topped prices in three area towns. The others at 171 Pickpocket/Brentwood and 298 Piscassic/Newfields, sold for $1,050,000 and $1,100,000 respectively. Newfields may have had just 25 total sales for the year, but that represents an amazing 32% increase, tops all of Seacoast Market Watch towns. Brentwood sales volume was off 16% but the town saw its median price jump an impressive 20%—best in the region. Brentwood’s DOM of 41 was the shortest market time anywhere following Rochester and Strafford. Lack of inventory, especially popularly-priced inventory, created fierce competition among buyers. A Tate & Foss SIR listing at 23 Newfields Road/Exeter, priced at $339,000, drew an estimated 300 potential buyers to a Sunday open house in late October. That crowd generated six offers and an eventual sale at $371,000! BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT LIVESEACOAST.COM
© MARKET WATCH • 10
Greater Dover Area
Dover • Rochester • Rollinsford • Somersworth
2019 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$275,188 Number of Homes Sold
1,155 Days on Market
43 11 • MARKET WATCH ©
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Dover
2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
507 50 $336,028 $304,000 $1,775,000
474 42 $330,096 $305,000 $1,225,000
Change -7% -17% -2% 0% -31%
Rochester
2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
510 46 $221,218 $220,000 $683,000
468 40 $222,656 $225,000 $620,000
Tax Rate: $24.92 Rollinsford
2018 YTD
2019 YTD
Number of Sales Days on Market Average Price Median Price Highest Price
39 62 $296,676 $255,000 $875,000
45 55 $320,964 $290,000 $980,000
Tax Rate: $24.14
Change -8% -13% 1% 2% -9%
Tax Rate: $27.52 Change
Somersworth
2018
2019
15% -11% 8% 14% 12%
Number of Sales Days on Market Average Price Median Price Highest Price
148 46 $228,939 $220,000 $408,600
168 54 $254,347 $249,950 $430,000
Change 14% 17% 11% 14% 5%
Tax Rate: $33.41
Significant Sale: Dover $960,000 | August 2019 Sold by Tate & Foss Sotheby’s International Realty The Greater Dover Area offers relatively abundant affordable inventory along with steadily improving amenities. Not the least of these projects is the near completion of the Dover Point Bridge complex. The long-awaited effort now is beginning to significantly cut commuter time to and from the coast. Not surprisingly, the area had more than double the sales of any other local New Hampshire market. Rochester had the lowest median sale price ($225,000) of any market town in either New Hampshire or Maine. But the community has been slow to improve infrastructure and rejuvenate its downtown area. Consequently, the Lilac City generated only 2% appreciation with an 8% drop in sales volume, albeit the second largest volume anywhere. That honor for most sales went to Dover. Dover, has invested in its school system, enjoys a hospital that has merged with Mass. General and boasts a downtown that continues to grow with abandon. It also has an Amtrak stop and is 15 minutes from the University of New Hampshire. One could say Dover has benefited most from the Bridge Project. The result of all this good news was the region’s highest sales volume at 474 units. Still, appreciation was virtually flat with a median sale price of $305,000 or $1,000 more than last year. As in so many other areas, lack of inventory stymied the Greater Dover real estate market. Rollinsford and Somersworth each bucked the region’s overall sales decline by logging volume improvements of 15% and 14% respectively. Both towns had median sale prices of less than $300,000. Somersworth takes home the title of “most affordable.” The town’s high price of $430,000 was by far the lowest of any community in either New Hampshire or Maine. BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT LIVESEACOAST.COM
© MARKET WATCH • 12
Greater Durham Area
Durham • Lee • Madbury • Newmarket
2019 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$404,489 Number of Homes Sold
347 Days on Market
55 13 • MARKET WATCH ©
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Newmarket
2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
147 48 $324,361 $292,500 $980,000
144 52 $360,205 $345,000 $1,150,000
Change -2% 7% 11% 18% 17%
Durham
2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
108 42 $411,509 $366,250 $1,750,000
116 57 $462,972 $400,000 $2,445,000
Tax Rate: $29.24 Lee
2018 YTD
2019
Number of Sales Days on Market Average Price Median Price Highest Price
70 63 $361,300 $348,117 $1,160,000
72 56 $392,522 $388,700 $915,000
Tax Rate: $30.57
Change 7% 36% 13% 9% 40%
Tax Rate: $26.80 Change 3% -11% 9% 12% -21%
Madbury
2018 YTD
2019
Number of Sales Days on Market Average Price Median Price Highest Price
31 56 $460,490 $399,900 $997,500
15 69 $434,780 $370,000 $649,900
Change -52% 23% -6% -7% -35%
Tax Rate: $29.98
Durham is home to the main campus of The University of New Hampshire (c.1866), one of the nation’s top research universities.
With the pending completion of the Durham Riverwoods campus, Oyster River School system and the economic engine that is the University of New Hampshire, this market saw the region’s most impressive appreciation. The 9% jump in average sale price and 10% improvement in median sale price is the best to be found anywhere. Durham saw a significant $2.445 million sale more typical of the coast than inland. That transaction involved a Bay Road waterfront estate. An impressive $915,000 closing on quiet Caverno Drive was Lee’s biggest sale. It wasn’t that long ago that the $600,000’s were tops for this lovely neighborhood. Newmarket extended town water to the Moody Point area, an infrastructure improvement that could help solidify prices there. Still, the highest sale price to be found was on nearby Smith Garrison Road— a 2+ acre waterfront home that sold for $1.15 million. But real estate tax bills remain somewhat daunting in the Greater Durham Area—a fact that tempers market activity. And escalating prices may also be leading to slower real estate activity. The market’s 55 DOM average is highest among all New Hampshire markets. There were fewer total sales here than any other area.
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© MARKET WATCH • 14
Greater Seacoast Lakes Area
Barrington • Northwood • Nottingham • Strafford
2019 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$331,313 Number of Homes Sold
425 Days on Market
53 15 • MARKET WATCH ©
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Nottingham
2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
100 46 $326,439 $323,000 $713,000
109 44 $367,407 $367,000 $700,000
Change 9% -5% 13% 14% -2%
Northwood
2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
82 62 $273,143 $255,950 $690,000
94 66 $288,881 $300,000 $679,900
Tax Rate: $22.64 Strafford
2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
53 27 $337,449 $309,900 $695,000
63 36 $340,338 $302,000 $730,000
Tax Rate: $23.63
Change 15% 6% 6% 17% -1%
Tax Rate: $25.68 Change 19% 30% 1% -3% 5%
Barrington
2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
171 55 $314,209 $310,000 $875,000
159 59 $328,080 $313,900 $820,000
Change -7% 8% 4% 1% -6%
Tax Rate: $24.78
Nottingham’s Pawtuckaway State Park is a 5,000-acre preserve with a lakefront beach and 32 miles of hiking trails.
Affordable, country living is the mantra here. One can realize the waterfront or gentleman’s farm dream without paying a premium. None of the four towns in this market experienced a $1 million sale. In fact, the highest price paid among the quartet, which offered many enticing lakefront and pond properties, was $820,000 for a Swains Lake home with 100 feet of water frontage. To be sure, the region’s rural feel provides a relaxing environment for commuters heading to work in Manchester, Concord, Durham or the coast. Further, the Greater Seacoast Lakes Area has seen steadily improving infrastructure, partially eliminating the need to drive long distances for dining, shopping and more. All these positive features helped this market produce a 5% sales volume increase, an impressive 6% gain in average sale price and a median sale price that climbed 7% from last year to $325,000—second lowest only to Greater Dover. The hot spot for this market was Strafford where buyers snapped up inventory in an average of 36 days, lowest of any Seacoast Market Watch town. And, while there were only a modest 63 sales in this hamlet, that represented a 19% volume gain, the second largest anywhere.
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© MARKET WATCH • 16
Eliot and The Berwicks
Berwick • Eliot • North Berwick • South Berwick
2019 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$310,221 Number of Homes Sold
386 Days on Market
75 17 • MARKET WATCH ©
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Berwick
2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
114 40 $251,186 $236,500 $460,000
122 81 $273,956 $269,500 $490,000
Change 7% 102% 9% 14% 7%
Eliot
2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
112 62 $387,236 $350,000 $1,100,000
92 77 $389,073 $371,000 $840,000
Tax Rate: $17.60 North Berwick
2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
68 63 $263,230 $264,500 $670,000
75 86 $281,875 $259,900 $660,000
Tax Rate: $12.90
Change -18% 24% 0% 6% -24%
Tax Rate: $14.70 Change
South Berwick
2018
2019
10% 36% 7% -2% -1%
Number of Sales Days on Market Average Price Median Price Highest Price
110 38 $304,144 $290,500 $700,000
97 59 $302,963 $287,000 $819,000
Change -12% 56% 0% -1% 17%
Tax Rate: $19.30
South Berwick’s Strawberry Festival has been a local tradition for over 40 years! The annual event is filled with entertainment, artisans and food, including the finest strawberry shortcakes!
With access to outstanding schools and recreational opportunities, this area is a wonderful place to live. However, Eliot and the Berwicks lag behind other markets as properties took an average 75 days to sell. That’s a 52% increase that easily topped the eight Seacoast Market Watch regions we cover. While just over the bridge from pricey Portsmouth, the median sale price here failed to exceed $300,000 in three of the four towns. Still, affordability helped to produce a modest 2% gain in average sale price and 4% gain in median sale price—to $295,000. But total sales volume was off 4% and no sale exceeded $840,000. In fact, $490,000 was tops for Berwick. Look closely and you will find relative bargains to be had here. We continue to think this market is one of the area’s best kept value secrets. Yet, the region continues to “creep” out of the ravishes of the Great Recession of 2008. One can speculate about the reasons for this. It does seem, however, that the region needs enlightened development that spurs community and vibrant downtowns. When planners begin to unlock the character and potential that each of these towns has (think Kittery Foreside), the opportunity for real growth will blossom. The fundamentals are already here.
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© MARKET WATCH • 18
Southern York County Coast
Kennebunk • Kennebunkport • Kittery • Ogunquit • Wells • York
2019 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$480,213 Number of Homes Sold
1,298 Days on Market
70 19 • MARKET WATCH ©
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Kennebunk
2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
247 73 $390,228 $351,500 $1,540,000
285 76 $418,248 $348,000 $2,165,000
Change 15% 5% 7% -1% 41%
Kennebunkport 2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
82 95 $910,469 $647,250 $4,390,700
89 112 $693,973 $650,000 $2,412,500
2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
131 49 $440,768 $388,400 $2,625,000
146 56 $474,368 $425,500 $2,600,000
Change 11% 15% 8% 10% -1%
Ogunquit
2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
76 66 $599,737 $568,750 $1,500,000
79 69 $708,984 $538,000 $7,950,000
Tax Rate: $16.80 Wells
2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
390 77 $363,923 $303,600 $2,800,000
404 69 $352,149 $309,000 $1,853,900
Tax Rate: $10.32
-8% -16% 31% 0% 82%
Tax Rate: $8.76
Tax Rate: $17.50 Kittery
Change
Change 4% 3% 18% -5% 430%
Tax Rate: $7.58 Change 4% -10% -3% 2% -34%
York
2018
2019
Number of Sales Days on Market Average Price Median Price Highest Price
314 91 $573,446 $454,500 $5,470,000
302 65 $536,166 $443,500 $2,600,000
Change -4% -29% -7% -2% -52%
Tax Rate: $11.15
Significant Sale: Kittery Point $800,000 I July 2019 Listed by Tate & Foss Sotheby’s International Realty
Granite Staters will tell you that the priciest market is to be found in New Castle or Rye. But the fact of the matter is that Southern York County is truly the “Gold Coast.” Each of its six market towns boasted amazing, eye-popping sales. The main allure here is remarkably beautiful and private oceanfront, but the region abounds with fabulous lifestyle amenities. A short drive up the Maine turnpike will land you in Portland with everything that city offers, an Amtrak stop, plus a hassle-free international airport. Wells, with its huge seasonal community, logged the most sales by far of the six towns. Ogunquit had the least but could also boast the prize for biggest sale: the oceanview, 10,000-plus square foot “Juniper Rock” mansion which sold for a $100,000 “discount” at $7,950,000. Impressively, when we talk big sales, five of the six towns closed properties in excess of $2.1 million. Tate & Foss SIR, which has a tradition of making an impact in the Kittery/Kittery Point market, did so again in 2019, bringing the buyer to the $1.85 million sale of “Wild Acre” at 42 Pepperrell Road and representing the sellers of “Bayberry Cottage,” a Seapoint summer cottage with 100 feet of sandy beach. BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT LIVESEACOAST.COM
© MARKET WATCH • 20
Luxury
Offered for Sale
45 Church Road, Rye Beach
2019 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$1,595,483 Number of Homes Sold
189 Days on Market
108 21 • MARKET WATCH ©
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NUMBER OF SALES DAYS ON MARKET AVERAGE PRICE MEDIAN PRICE HIGHEST PRICE
2018
2019
Change
175 138 $1,558,040 $1,325,000 $5,470,000
189 108 $1,595,483 $1,349,000 $7,950,000
8% -22% 2% 2% 45%
Significant Sale: Exeter $2,188,888 I November 2019 Listed by Tate & Foss Sotheby’s International Realty
Significant Sale: Rye Beach $1,646,650 I September 2019 Listed by Tate & Foss Sotheby’s International Realty
For Sale: Rye Beach Offered at $1,850,000 Listed by Tate & Foss Sotheby’s International Realty
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Number of Luxury properties sold by TFSIR in 2019 Average sales price
$1,589,689
35%
of all Luxury sales were in the Greater Portsmouth Area
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© MARKET WATCH • 22
Waterfront
Significant Sale: Rye Beach | $3,600,000 | July 2019 | Listed & Sold by Tate & Foss Sotheby’s International Realty
2019 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$763,906 Number of Homes Sold
323 Days on Market
80 23 • MARKET WATCH ©
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NUMBER OF SALES DAYS ON MARKET AVERAGE PRICE MEDIAN PRICE HIGHEST PRICE
2018
2019
Change
317 92 $792,848 $560,000 $5,470,000
323 80 $763,906 $503,000 $7,950,000
2% -13% -4% -10% 45%
Significant Sale: Kittery Point $1,850,000 | November 2019 Sold by Tate & Foss Sotheby’s International Realty
For Sale: Portsmouth Offered at $2,595,000 Listed by Tate & Foss Sotheby’s International Realty
Significant Sale: New Castle $4,200,000 I July 2019 Listed & Sold by Tate & Foss Sotheby’s International Realty
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Number of Waterfront properties sold by TFSIR in 2019 Average sales price
$1,363,254
24% of all Waterfront sales were above $900,000
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© MARKET WATCH • 24
Historic & Antique
Offered for Sale
The Cutts Mansion Condominiums, Portsmouth
2019 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$455,210 Number of Homes Sold
543 Days on Market
58 25 • MARKET WATCH ©
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NUMBER OF SALES DAYS ON MARKET AVERAGE PRICE MEDIAN PRICE HIGHEST PRICE
2018
2019
Change
378 81 $435,081 $323,500 $5,200,000
543 58 $455,210 $337,000 $5,000,000
44% -28% 5% 4% -4%
Significant Sale: Rye $710,000 | May 2019 Listed by Tate & Foss Sotheby’s International Realty
For Sale: Portsmouth Offered at $1,695,000 Listed by Tate & Foss Sotheby’s International Realty
For Sale: Rye Beach 210 South Road Offered at $3,250,000 Listed by Tate & Foss Sotheby’s International Realty
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Number of Historic & Antique properties sold by TFSIR in 2019 Average sales price
$844,925
19%
of all Historic & Antique sales were in the city of Portsmouth
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© MARKET WATCH • 26
Farm & Equestrian
Offered For Sale
Baer Road Preserve, Rollinsford
2019 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$509,172 Number of Homes Sold
148 Days on Market
73 27 • MARKET WATCH ©
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NUMBER OF SALES DAYS ON MARKET AVERAGE PRICE MEDIAN PRICE HIGHEST PRICE
2018
2019
Change
125 72 $450,931 $383,000 $1,750,000
148 73 $509,172 $396,000 $1,975,000
18% 1% 13% 3% 13%
Significant Sale: Hampton Falls $1,000,000 I September 2019 Listed by Tate & Foss Sotheby’s International Realty
Significant Sale: Brentwood $1,050,000 | June 2019 Listed by Tate & Foss Sotheby’s International Realty
Significant Sale: Exeter $840,000 I August 2019 Listed by Tate & Foss Sotheby’s International Realty
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Number of Farm & Equestrian properties sold by TFSIR in 2019 Average sales price
$839,800
27%
of all Farm & Equestrian sales were in Eliot and The Berwicks
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© MARKET WATCH • 28
Our Team
Peter Allen Sales Associate c 603.930.3595
Karen Butz Webb Sales Associate c 603.475.1135
Katie Fontana Sales Associate c 603.502.6890
Kasey Gossom Marketing Assistant o 603.964.8028
Robyne Harrison Sales Associate c 603.918.6093
Mary Beth Hixon Sales Associate c 603.548.5380
Tony Jalbert Principal Broker c 603.498.6241
Lynne Joyce Associate Broker c 603.591.8489
Manuela Kutzer Sales Associate c 603.828.2195
Caren Logan Sales Associate c 603.370.0544
Brett Mulvey Sales Associate c 603.396.6098
Jenifer Parker Sales Associate c 603.498.0555
29 • MARKET WATCH ©
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Our Team
Sharon Parker Sales Associate c 603.828.1705
John Rice Associate Broker c 603.498.4034
Jennie Sexton Gallant Sales Associate c 603.817.9089
Barb Shea Sales Associate c 603.498.2115
Brooks Stevens Sales Associate c 603.828.6727
Andrea Swanson Sales Associate c 603.498.8978
Ned Tate Associate Broker c 603.531.1040
Jaynee Whitney Sales Associate c 603.380.5140
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© MARKET WATCH • 30
TOP 10 REASONS TO LIST WITH TATE & FOSS SOTHEBY’S INTERNATIONAL REALTY
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LEGACY
BRAND
Sotheby’s has been uniting collectors with worldclass works of art since 1744. That legacy is alive in the collaboration that exists between the auction house and realty, and all that is done to leverage our brand’s rich history, heritage and sophistication within the global markets we serve.
Sotheby’s is a rare brand that instantly evokes quality, service and an appreciation of truly valuable items. This positioning allows us to connect with affluent consumers who share in our brand vision and commitment to excellence.
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4
PEOPLE
NETWORK
Our sales associates, staff and partners contribute to our success every day. Our team is exceptionally experienced and our associates are highly qualified advisors who go above and beyond to facilitate all of our clients’ real estate needs.
Sotheby’s International Realty represents the only true, worldwide real estate network. Thousands of office-to-office referrals are processed every year and many events are held to ensure that our associates establish great business relationships within the network.
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6
MARKETING
REACH
Sotheby’s International Realty has an extraordinary domestic and international marketing plan, which incudes. partnerships with leading media such as the Wall Street Journal, New York Times and Architectural Digest to provide the best exposure for SIR listings.
With an outstanding brand, a robust marketing plan and a strong network, we have unparalled reach to qualified home buyers. Tate & Foss Sotheby’s International Realty associates are able to tailor their plans to target an array of unique buyer profiles.
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STANDARDS
SERVICE
Our property marketing is developed with the highest standards in mind. High-resolution imagery, eloquent description writing and impeccable presentation are essential to every Tate & Foss Sotheby’s International Realty listing.
Our high standards are not marketing specific. Tate & Foss Sotheby’s International Realty sales associates pride themselves in offering white-glove service from beginning to end, establishing longlasting relationships with their clients.
TRACK RECORD
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OVERALL EXPERIENCE
Over the last 40+ years, Tate & Foss Sotheby’s International Realty has developed an impressive track record, closing many significant sales. We have a reputation for selling a majority of the Seacoast’s unique, luxury and waterfront properties across all price points.
All prior points combine to create an outstanding, seamless client experience. For hundreds of years, the Sotheby’s brand has grown and excelled due to its respect for tradition and focus on innovation. Tate & Foss Sotheby’s International Realty is no exception.
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