Market Watch 2017 MID YEAR REVIEW
Rye Harbor, Rye NH Through the first six months of 2017, tightening inventory levels led to a Seller’s market. To be exact, total available inventory has been off about 20% per month since January. With less product to sell, the market has been defined by an 8.4% decline in overall single family sales in the 13 Sample Seacoast Towns. At the same time the median sale price has jumped an impressive 7.4%. It’s a robust and challenging market—a classic supply and demand scenario. As always, Tate & Foss Sotheby’s International Realty has been an active and viable presence in both New Hampshire and Maine. The median sale price of the homes we sold was $605,000, but we were representative in all price ranges. Our sales team closed several of the Seacoast’s ‘million dollar plus’ sales during the first half of the year. Two of these were 51 Chapel Road and 151 Atlantic Avenue, both in North Hampton, which closed for $2.95M and $1.8M respectively. Interestingly, both properties were at least a half mile inland from the ocean. Our agents have amassed about 50 active listings in both New Hampshire and Maine. The median asking price for this inventory exceeds $900,000. The condominium market continues to see the fastest growth in volume and median sale prices. The company has been honored to represent several of Portsmouth’s most desirable higher end units. Among these are two units each at 10 State Street and 233 Vaughan Street, retailing between $1.8M and $4M. Our market remains strong as the world continues to discover what a great place to live the Seacoast area is. Empty nesters have flocked to cosmopolitan Portsmouth and we see consistent demand in most of the other 13 Sample Seacoast towns. We boast cutting-edge educational systems, abundant and first-rate health care venues and extraordinary recreational opportunities. There seems to be an endless list of reasons why people want to live here...including lower taxes, which seems to be fueling a relocation trend from neighboring states to New Hampshire. Most importantly, consumer confidence remains high and interest rates at historic lows. As the fall season approaches, we look for a strong finish to the sales year. Especially as buyers return from “vacation mode” and refocus on their real estate needs. We extend every good wish. Our highly qualified and veteran team stands ready to assist you in purchasing or selling your home. In the meantime, we are happy to be a resource and share our extensive knowledge with you in these pages. Anthony Jalbert Principal Broker
1 • MARKET WATCH
BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
Offered For Sale
Sections 3 5 7 9 11 13 15 17 19 21 23 25 27
152 Harbor Road, Rye NH
Key Observations
SEACOAST OVERVIEW PORTSMOUTH AREA THE HAMPTONS EXETER AREA DOVER AREA DURHAM AREA ELIOT & THE BERWICKS SO. YORK COUNTY COAST LUXURY WATERFRONT
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
In many ways, the first six months of 2017 have been like 2016 in overdrive. Fueled by near-record low interest rates, demand is everpresent. Still, the inventory shortage is much more acute, prices keep rising and bidding wars are routine.
HISTORIC & ANTIQUE FARM & EQUESTRIAN OUR TEAM Pictured on Cover: York Harbor, York ME Photography pictured within 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 TATEANDFOSS.COM
MARKET WATCH • 2
Seacoast Overview
Offered for Sale
149 Wild Rose Lane, New Castle NH
Mid 2017 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$528,514* Number of Homes Sold
431* Days on Market
78* 3 • MARKET WATCH
*Data: 13 Sample Seacoast Towns
BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
We draw our statistics from sales in the “Thirteen Sample Seacoast Towns.” These towns are Exeter, Greenland, Hampton, Hampton Falls, New Castle, Newfields, Newington, North Hampton, Newmarket, Portsmouth, Rye, Seabrook and Stratham. Single family and condominium inventory in those towns is down consistently month over month about 20%. The resultant fierce competition has spurred median sale prices to rise 7.4% . The cumulative price now stands at $429,750. In fact, single family monthly median sale prices were once routinely stuck in the mid $300s. They have now topped $400,000 every month this year. Similarly, condominiums have a six-month median sale price of $296,000—up a staggering 18.4% from 2016. Further, don’t be fooled by total single family sales being off 8.4% through the end of June. The “popular price range”—homes priced under $400,000-- was tied in February by sales from $400,000-$700,000. It was again substantially exceeded (65-59) in June. This had never happened until last year—now it appears it’s a trend that could become commonplace. In conclusion, a pronounced inventory shortage has done nothing to dampen demand. We live and work in an appreciating, destination-oriented market. And that market is envied everywhere.
BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
MARKET WATCH • 4
Greater Portsmouth Area
Greenland • New Castle • Newington • Portsmouth • Rye • Rye Beach
Mid 2017 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$594,756 Number of Homes Sold
243 Days on Market
67 5 • MARKET WATCH
BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
Greenland
2016 YTD
2017 YTD
Change
Number of Sales Days on Market Average Price Median Price Highest Price
33 89 $443,075 $365,000 $910,000
36 76 $589,290 $590,158 $1,150,000
9% -15% 33% 62% 26%
New Castle
2016 YTD
2017 YTD
Change
Number of Sales Days on Market Average Price Median Price Highest Price
7 66 $932,700 $764,900 $1925,000
5 112 $1,056,200 $820,000 $1,635,000
-40% 41% 12% 7% -18%
Tax Rate: $16.65
Tax Rate: $5.85
Newington
2016 YTD
2017 YTD
Change
Portsmouth
2016 YTD
2017 YTD
Change
Number of Sales Days on Market Average Price Median Price Highest Price
6 101 $777,198 $692,095 $1,500,000
3 123 $1,220,000 $1,250,000 $1,475,000
-100% 18% 36% 45% -2%
Number of Sales Days on Market Average Price Median Price Highest Price
179 67 $456,822 $375,000 $3,000,000
150 50 $492,876 $427,250 $2,087,080
-19% -35% 7% 12% -44%
Tax Rate: $9.15
Tax Rate: $17.04
Rye
2016 YTD
2017 YTD
Change
Number of Sales Days on Market Average Price Median Price Highest Price
44 94 $830,948 $672,250 $2,750,000
44 100 $796,940 $662,875 $1,974,703
0% 6% -4% -1% -39%
Tax Rate: $11.25
Rye Beach
2016 YTD
2017 YTD
Change
Number of Sales Days on Market Average Price Median Price Highest Price
1 190 $875,000 $875,000 $875,000
5 177 $1,074,688 $919,000 $2,000,000
80% -7% 19% 5% 56%
Tax Rate: $10.95
It can be said that as Portsmouth goes, so goes the Seacoast real estate market. Indeed, as we’ve indicated before, Buyers new to the area, usually ask the same questions first. “ How close will we be to downtown?” With all the amenities of a large city, Portsmouth is in many ways like a small San Francisco. It is rich in history, has numerous restaurants, theater, art galleries and cosmopolitan shopping. Not surprisingly, the average price of a home in Portsmouth has soared to nearly $500,000-- up 7% from 2016. To be sure volume is off by 19%, but we see this as a function of the aforementioned inventory shortage. Rye experienced no change in the number of sales, but it was taking 6% longer to move that inventory. The culprit here is an average sale price approaching $800,000—a bracket where traditionally less than 20% of total sales happen. Still, Rye has schools that families move here for, abundant recreational opportunities for young and old, and low taxes. In short, boasting an enviable lifestyle by the sea, Rye continues to hold its own in the market place. Finally, it’s notable that Greenland’s median sale price escalated an eye-popping 62%. New Castle, with an average sale price exceeding $1 million dollars, experienced only five sales, but remains in high demand. Our buyers consistently want to check out what’s available on Great Island. To be sure, we had one of those five, million-dollar sales with at least another pending. We are currently listing three New Castle properties in the plus $1M bracket including two important Wild Rose Lane offerings. Let’s talk! BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
MARKET WATCH • 6
The Hamptons
Hampton • Hampton Falls • North Hampton • Seabrook • South Hampton
Mid 2017 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$422,599 Number of Homes Sold
308 Days on Market
94 7 • MARKET WATCH
BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
Hampton
2016 YTD
2017 YTD
Change
Hampton Falls
2016 YTD
2017 YTD
Change
Number of Sales Days on Market Average Price Median Price Highest Price
171 87 $304,760 $299,900 $820,000
205 96 $340,073 $329,000 $1,630,000
17% 10% 10% 9% 50%
Number of Sales Days on Market Average Price Median Price Highest Price
22 113 $494,546 $425,000 $1,385,000
17 77 $493,329 $394,900 $1,050,000
-29% -46% 0% -10% -32%
Tax Rate: $16.08
Tax Rate: $21.50
North Hampton 2016 YTD
2017 YTD
Change
Number of Sales Days on Market Average Price Median Price Highest Price
37 73 $909,592 $715,000 $5,476,343
0% -1% 40% 32% 77%
37 74 $546,178 $485,000 $1,250,000
Seabrook
2016 YTD
2017 YTD
Change
Number of Sales Days on Market Average Price Median Price Highest Price
39 114 $398,662 $335,000 $1,068,000
42 96 $372,262 $327,400 $1,275,000
7% -19% -7% -2% 16%
Tax Rate: $17.79 South Hampton 2016 YTD
2017 YTD
Number of Sales Days on Market Average Price Median Price Highest Price
7 158 $395,586 $350,000 $515,000
4 46 $323,850 $360,200 $495,000
Tax Rate: $14.79 Change 43% 71% 18% -3% 4%
Average Sales Price in North Hampton Up by
Tax Rate: $18.23
40%
Significant Sale: North Hampton $1,800,000 | June 2017 Listed by Tate & Foss Sotheby’s International Realty The Hamptons remain an attractive buy. Here you have access to world-famous Hampton Beach, good schools and close proximity to Boston. The area sits on major travel arteries in three directions with two trains and two major airports less than an hour away. It’s a commuter’s dream! And sale price points are truly modest when compared to the Greater Portsmouth area. Small wonder, despite an inventory shortage, that the Hamptons have topped 2016 sales numbers so far. Median sale prices, like the rest of the Seacoast, escalated in Hampton and North Hampton. They slid in Hampton Falls, Seabrook and South Hampton. Average prices were higher everywhere except Seabrook. Still, with a median sale price well under $400,000, the sales outlook for the Hampton remains strong. BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
MARKET WATCH • 8
Greater Exeter Area
Brentwood • East Kingston • Exeter • Kensington • Newfields • Stratham
Mid 2017 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$376,579 Number of Homes Sold
284 Days on Market
63 9 • MARKET WATCH
BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
Brentwood
2016 YTD
2017 YTD
Change
East Kingston
2016 YTD
2017 YTD
Number of Sales Days on Market Average Price Median Price Highest Price
26 77 $383,342 $393,500 $535,000
28 34 $388,082 $385,000 $625,000
7% -125% 1% -2% 14%
Number of Sales Days on Market Average Price Median Price Highest Price
19 49 $348,400 $360,000 $440,000
19 101 $413,824 $365,000 $992,000
Tax Rate: $24.25 2016 YTD
2017 YTD
Change
Number of Sales Days on Market Average Price Median Price Highest Price
154 71 $307,968 $293,950 $975,000
132 69 $344,098 $328,285 $1,085,000
-17% -4% 10% 10% 10%
Kensington
2016 YTD
2017 YTD
Number of Sales Days on Market Average Price Median Price Highest Price
14 67 $385,643 $381,000 $530,000
10 125 $425,990 $427,000 $635,000
Tax Rate: $26.24 2016 YTD
2017 YTD
Number of Sales Days on Market Average Price Median Price Highest Price
15 135 $445,147 $449,900 $849,000
16 85 $445,169 $454,950 $625,000
Tax Rate: $23.22
0% 51% 16% 1% 56%
Tax Rate: $24.79
Exeter
Newfields
Change
Change -40% 47% 9% 11% 17%
Tax Rate: $23.51 Change 6% -60% 0% 1% -36%
Stratham
2016 YTD
2017 YTD
Number of Sales Days on Market Average Price Median Price Highest Price
80 67 $405,385 $395,000 $975,457
79 42 $397,670 $400,000 $830,000
Change -1% -61% -2% 1% -18%
Tax Rate: $20.40
Significant Sale: Exeter $800,504 | June 2017 Listed by Tate & Foss Sotheby’s International Realty The Exeter area is traditionally more affordable than its Seacoast sister towns—especially the Greater Portsmouth area. All the same, its median sale price just edged out the Hamptons through the first six months of 2017. Still, the average price of $376,579 was substantially behind most Seacoast towns. With PEA, Amtrak, superb schools, and location one half hour from Manchester Airport, there’s much to like. And we haven’t even mentioned up-to-date infrastructure, Riverwoods or the Rinks at Exeter. Exeter seems to be thriving on new condo construction, too, many selling to out-of-town PEA parents. Sales in excess of $1 million were non-existent until that barrier was finally shattered this year. Tate and Foss SIR played a role in Exeter’s resurgence. We notched one of 2017’s two sales in excess of $800,000. This is definitely a market area to watch in the next six months. BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
MARKET WATCH • 10
Greater Dover Area
Dover • Rochester • Rollinsford • Somersworth
Mid 2017 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$241,263 Number of Homes Sold
509 Days on Market
55 11 • MARKET WATCH
BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
Dover
2016 YTD
2017 YTD
Number of Sales Days on Market Average Price Median Price Highest Price
226 67 $259,876 $235,000 $1,275,500
206 57 $301,100 $275,500 $875,000
Change -10% -18% 14% 15% -46%
Rochester
2016 YTD
2017 YTD
Number of Sales Days on Market Average Price Median Price Highest Price
183 74 $184,033 $184,000 $399,900
215 57 $195,303 $190,000 $410,000
Tax Rate: $26.29
15% -31% 6% 3% 2%
Tax Rate: $28.26
Rollinsford
2016 YTD
2017 YTD
Change
Somersworth
2016 YTD
2017 YTD
Number of Sales Days on Market Average Price Median Price Highest Price
23 57 $225,236 $185,000 $500,000
16 20 $212,269 $200,500 $355,000
-44% -184% -6% 8% -41%
Number of Sales Days on Market Average Price Median Price Highest Price
80 88 $189,989 $171,750 $394,900
72 52 $213,747 $206,950 $457,500
Tax Rate: $27.98
Change
Change -11% -68% 11% 17% 14%
Tax Rate: $32.12
Offered for Sale: Dover $975,000 | 3 BR, 3.5 BA Listed by Tate & Foss Sotheby’s International Realty The Greater Dover area seems to be the poster child for the 2017 real estate market. With inventory shortages as acute as the Seacoast, total sales are only off by a smidgeon: three. Yet median sale prices have escalated in all four towns comprising this market segment. Just as it was last year at this time, Dover is the affordable alternative to the pricey Seacoast. Even with 9.5% appreciation, the average price of a single family home did not exceed $275,000. (As opposed to $493,000 in Portsmouth.) DOM in the Dover area have dropped almost 25% to 55, fastest by far of any of the major market areas. We experienced this phenomenon first hand. Tate & Foss SIR sold homes on Baker Street in Dover and Horne Street, Somersworth. Both went under agreement in just four days. There’s more and more to like about Dover besides affordability. The hang-up for commuters has always been the traffic bottleneck at the Dover Point Bridge. This seems to be resolving itself as construction continues apace. Educational opportunities are abundant. Portsmouth Christian Academy and St. Thomas Aquinas are here, while UNH and Berwick Academy are just a few miles distant. Dover High School is slated for major renovations, the Children’s Museum thrives. The downtown area becomes more vibrant. Emergent Wentworth-Douglass Hospital has affiliated with Mass. General to offer unsurpassed medical care. And few towns can claim a stop on the Downeaster train to either Boston or Portland. In sum, this is a market segment that is priced well below most others. Therefore good times should prevail in the months ahead. BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
MARKET WATCH • 12
Greater Durham Area
Barrington • Durham • Lee • Madbury
Mid 2017 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$333,525 Number of Homes Sold
137 Days on Market
69 13 • MARKET WATCH
BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
Barrington
2016 YTD
2017 YTD
Number of Sales Days on Market Average Price Median Price Highest Price
77 77 $274,184 $269,000 $725,000
61 77 $274,712 $280,000 $445,000
Change -26% -1% 0% 4% -63%
Durham
2016 YTD
2017 YTD
Number of Sales Days on Market Average Price Median Price Highest Price
40 106 $338,324 $327,500 $580,000
41 68 $353,869 $350,000 $606,250
Tax Rate: $26.04 Lee
2016 YTD
2017 YTD
Number of Sales Days on Market Average Price Median Price Highest Price
27 86 $335,542 $324,700 $600,500
21 69 $366,924 $340,000 $800,000
Tax Rate: $29.25
Change 2% -57% 4% 6% 4%
Tax Rate: $29.73 Change -29% -24% 9% 5% 25%
Madbury
2016 YTD
2017 YTD
Change
Number of Sales Days on Market Average Price Median Price Highest Price
15 89 $295,360 $305,000 $480,000
14 43 $480,100 $436,500 $1,000,000
-7% -104% 38% 30% 52%
Tax Rate: $28.59
Significant Sale: Madbury $1,000,000 | June 2017 Listed by Tate & Foss Sotheby’s International Realty
This market segment has always been about the University of New Hampshire and the Oyster River School System. There has never been a doubt that education is the key draw to these towns. But the area is also about to become a premier retirement location as well. Across the nation, aging Boomers are flocking to college communities for the amenities they offer. Durham has all that plus the Downeaster train to Boston and Portland. Further, senior assisted living facilities will soon be positively prolific here. The sprawling Sprucewoods complex has been thriving for years. Now Riverwoods is about to break ground on a campus of its own and much closer to UNH. There is also abundant condominium inventory, especially in the Newmarket area. For the record, the sales summary sounds familiar. Closings have declined with dwindling inventory. But average sales prices have gone up 10.2% and DOM has shortened 20.6%. Tate & Foss SIR has the largest sale in any of the towns. That transaction happened at Old Orchard Farm, 42 Nute Road in Madbury, a $1,000,000 sale.
BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
MARKET WATCH • 14
Eliot and The Berwicks
Berwick • Eliot • North Berwick • South Berwick
Mid 2017 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$266,654 Number of Homes Sold
165 Days on Market
61 15 • MARKET WATCH
BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
Berwick
2016 YTD
2017 YTD
Number of Sales Days on Market Average Price Median Price Highest Price
48 61 $210,598 $222,500 $435,000
44 61 $213,242 $215,600 $449,000
Change -9% -1% 1% -3% 3%
Eliot
2016 YTD
2017 YTD
Number of Sales Days on Market Average Price Median Price Highest Price
40 112 $361,807 $318,700 $995,000
40 71 $356,261 $335,698 $760,000
Tax Rate: $16.30 North Berwick
2016 YTD
2017 YTD
Number of Sales Days on Market Average Price Median Price Highest Price
22 79 $246,067 $221,000 $460,000
40 48 $223,836 $222,400 $415,000
Tax Rate: $12.60
Change 0% -57% -2% 5% -31%
Tax Rate: $14.05 Change
South Berwick
2016 YTD
2017 YTD
45% -64% -10% 1% -11%
Number of Sales Days on Market Average Price Median Price Highest Price
55 69 $234,763 $232,000 $400,000
41 62 $278,326 $274,900 $605,000
Change -34% -11% 16% 16% 34%
Tax Rate: $18.30
Offered for Sale: South Berwick $399,900 | 3 BR, 2.5 BA Listed by Tate & Foss Sotheby’s International Realty
The inland towns of Southern Maine were hard hit by the Great Recession of 2008-2010. Most properties lost at least 30% of their value. They are only now recouping the bulk of that loss. It’s not quite the bargain that the Dover area is. Still, a median sale price of $240,000 caught the eye of many buyers. Indeed, this is the only market where sales have not declined over 2016. Further, marketing time (DOM) did decline an impressive 22%. But, true to form, sale prices barely improved at all. The Berwicks continue to boast wonderful schools, properties with land and the best of country living. Recreational areas like the Hamilton House complex are unique and beautiful. Proximity to Wentworth Douglass and York Hospitals is a huge plus. Portland and the Jetport are less than an hour from here. Tate & Foss SIR was a player in this market. We sold, among other properties, an important land listing in Berwick. The transaction involved 71 acres of prime farmland and woods off Blackberry Hill Road. It sold with the help of a conservation easement from Maine Farmland Trust which we coordinated.
BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
MARKET WATCH • 16
Southern York County Coast
Kennebunk • Kennebunkport • Kittery • Kittery Point • Ogunquit • Wells • York
Mid 2017 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$416,363 Number of Homes Sold
534 Days on Market
91 17 • MARKET WATCH
BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
Kennebunk
2016 YTD
2017 YTD
Change
Number of Sales Days on Market Average Price Median Price Highest Price
140 113 $274,184 $269,000 $725,000
102 90 $346,020 $298,750 $1,540,000
-37% -26% 13% 7% 44%
Kennebunkport 2016 YTD
2017 YTD
Change
Number of Sales Days on Market Average Price Median Price Highest Price
39 132 $712,804 $569,000 $2,050,000
10% -8% 20% 21% -26%
35 142 $573,567 $450,000 $2,575,000
Tax Rate: $8.28
Tax Rate: $15.90 Kittery
2016 YTD
2017 YTD
Change
Number of Sales Days on Market Average Price Median Price Highest Price
59 86 $353,492 $277,500 $1,700,000
61 52 $410,510 $350,000 $1,335,000
3% -65% 14% 21% -27%
Ogunquit
2016 YTD
2017 YTD
Change
Number of Sales Days on Market Average Price Median Price Highest Price
35 75 $502,429 $432,500 $1,300,000
38 83 $550,579 $555,000 $2,250,000
8% 10% 9% 22% 42%
Tax Rate: $16.05
Tax Rate: $8.07
Wells
2016 YTD
2017 YTD
Change
Number of Sales Days on Market Average Price Median Price Highest Price
147 83 $291,437 $245,000 $2,200,000
154 93 $320,289 $286,003 $1,850,000
5% 11% 9% 14% -19%
Tax Rate: $10.06
York
2016 YTD
2017 YTD
Change
Number of Sales Days on Market Average Price Median Price Highest Price
136 148 $417,583 $345,000 $2,200,000
140 99 $456,835 $391,050 $3,700,000
3% -50% 9% 12% 41%
Tax Rate: $11.15
Under Contract: Kennebunkport Offered at $995,000 Listed by Tate & Foss Sotheby’s International Realty
The waterfront axis from Kittery Point through Kennebunkport is the area’s “Gold Coast.” Buyers have paid as much as $3.7 million for oceanfront thus far in 2017. Bold oceanfront with privacy is this market’s hallmark. But away from the immediate coastline is an impressive infrastructure. It’s replete with good schools, great shopping, York Hospital and the Ogunquit Playhouse. And much, much more. Portland and the Jetport are just 45 minutes up the Maine Turnpike. Sales numbers in this area used to lag behind the smaller New Hampshire Seacoast. Not anymore. Of the six towns that comprise this market, five exceeded 2016 in sales volume. Further, there were 551 sales in the 11 towns along the New Hampshire coast. The six communities on the York County coast logged an impressive 534 sales. In red-hot York, sales not only exceeded 2016 levels (140-136) but marketing time was virtually cut in half. All that on an average sale price of $456,835—up 9%. Still it was Wells with 154 sales that led all towns in Southern York County. Clearly the Southern York County coast is a healthy and strong real estate market. BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
MARKET WATCH • 18
Luxury
Offered for Sale - Units 201 & 303
233 Vaughan Street, Portsmouth NH
Mid 2017 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$1,575,842 Number of Homes Sold
52 Days on Market
131 19 • MARKET WATCH
BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
NUMBER OF SALES DAYS ON MARKET AVERAGE PRICE MEDIAN PRICE HIGHEST PRICE
2016 YTD
2017 YTD
Change
41 101 $1,511,155 $1,325,000 $3,050,000
52 131 $1,575,842 $1,342,500 $5,476,343
21% 23% 4% 1% 45%
Significant Sale: New Castle $1,635,000 | May 2017 Listed by Tate & Foss Sotheby’s International Realty
Under Contract: Portsmouth Offered at $1,330,000 Listed by Tate & Foss Sotheby’s International Realty
Significant Sale: Rye $1,350,000 | March 2017 Sold by Tate & Foss Sotheby’s International Realty
6
Number of Luxury properties sold by TFSIR in 2017 Average sales price
$1,760,000
37% of all Luxury sales were in the
Greater Portsmouth Area
BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
MARKET WATCH • 20
Waterfront
Offered for Sale
Pier II at Ten State Street, Portsmouth NH
Mid 2017 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$627,660 Number of Homes Sold
154 Days on Market
100 21 • MARKET WATCH
BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
NUMBER OF SALES DAYS ON MARKET AVERAGE PRICE MEDIAN PRICE HIGHEST PRICE
2016 YTD
2017 YTD
Change
102 115 $579,022 $425,000 $2,200,000
154 100 $627,660 $458,500 $5,476,343
34% -15% 8% 7% 60%
Under Contract: Portsmouth Offered at $725,000 Listed by Tate & Foss Sotheby’s International Realty
Offered for Sale: New Castle $1,395,000 | 3 BR, 3.5 BA Listed by Tate & Foss Sotheby’s International Realty
Offered for Sale: Portsmouth $875,000 | 2 BR, 1 BA Listed by Tate & Foss Sotheby’s International Realty
5
Number of Waterfront properties sold by TFSIR in 2017 YTD Average sales price
$889,200
29% of all Waterfront sales were above $700,000
BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
MARKET WATCH • 22
Historic & Antique
1 Central Road, Rye NH
Sold
Mid 2017 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$401,876 Number of Homes Sold
165 Days on Market
79 23 • MARKET WATCH
BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
NUMBER OF SALES DAYS ON MARKET AVERAGE PRICE MEDIAN PRICE HIGHEST PRICE
2016 YTD
2017 YTD
Change
206 93 $364,684 $288,500 $3,000,000
165 79 $401,876 $330,000 $3,700,000
-25% -18% 9% 13% 19%
Significant Sale: North Hampton $485,000 | May 2017 Listed by Tate & Foss Sotheby’s International Realty
Under Contract: Portsmouth Offered at $799,000 Listed by Tate & Foss Sotheby’s International Realty
Offered for Sale: Hampton $525,000 | 4 BR, 2.5 BA Listed by Tate & Foss Sotheby’s International Realty
5
Number of Historic & Antique properties sold by TFSIR in 2017 YTD Average sales price
$548,881
37%
of all Historic & Antique sales above $700,000 were in Portsmouth
BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
MARKET WATCH • 24
Farm & Equestrian
224 Mill Pond Road, Nottingham NH
Offered For Sale
Mid 2017 At a Glance
Number of Sales
Days on Market
Average Price
Median Price
Highest Price
Average Sales Price
$545,301 Number of Homes Sold
45 Days on Market
106 25 • MARKET WATCH
BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
NUMBER OF SALES DAYS ON MARKET AVERAGE PRICE MEDIAN PRICE HIGHEST PRICE
2016 YTD
2017 YTD
Change
50 127 $364,775 $320,000 $975,457
45 106 $545,301 $369,000 $5,476,343
-11% -20% 33% 13% 82%
Offered for Sale: North Hampton $2,500,000 | 4 BR, 5 BA Listed by Tate & Foss Sotheby’s International Realty
Under Contract: North Hampton Offered at $1,100,000 Listed by Tate & Foss Sotheby’s International Realty
Offered for Sale: Kensington $465,000 | 18.67 Acres Listed by Tate & Foss Sotheby’s International Realty
$1M
Highest sales price of Farm & Equestrian properties sold in the Greater Dover & Durham areas Listed & Sold by Tate & Foss Sotheby’s International Realty
36% of all Farm & Equestrian sales above $400,000 were between the Greater Dover & Durham areas.
BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
MARKET WATCH • 26
Our Team
Tony Jalbert Principal Broker c 603.498.6241
Marion Barron Associate Broker c 603.502.8245
Rachael Brown Sales Associate c 603.498.4227
Mimi Calhoun Associate Broker c 603.918.9830
Michelle Canty Sales Associate c 603.682.6074
Robyne Harrison Sales Associate c 603.918.6093
Mary Beth Hixon Sales Associate c 603.548.5380
Travis Holland Associate Broker c 207.240.7499
Lynne Joyce Associate Broker c 603.591.8489
Manuela Kutzer Sales Associate c 603.828.2195
Brett Mulvey Sales Associate c 603.396.6098
Jenifer Parker Sales Associate c 603.498.0555
Sharon Parker Sales Associate c 603.828.1705
John Rice Associate Broker c 603.498.4034
Barb Shea Sales Associate c 603.498.2115
Andrea Swanson Sales Associate c 603.498.8978
Ned Tate Associate Broker c 603.531.1040
Jaynee Whitney Sales Associate c 603.380.5140
27 • MARKET WATCH
BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
Why Seacoast Sellers & Buyers Choose
Experience
Quality
Knowledge
Trustworthy Marketing Proven Success Brand Recognition Loyalty Attention to Detail Innovation
...and an exceptional sphere of influence, from the Seacoast to New York and around the globe. Our Exclusive Property Marketing Plan Offers Unparalleled Exposure to Qualified Buyers in the Greater New York Area... One of Our Top Referral Sources and the #1 U.S. Market for Relocation.
LIST YOUR HOME WITH OUR TEAM AND YOU’LL HAVE 18,000+ SOTHEBY’S INTERNATIONAL REALTY AGENTS AROUND THE WORLD WORKING TO HELP YOU FIND THE RIGHT BUYER.
We love where we live and believe that everyone should call the Seacoast HOME. Our team represents unique properties and lifestyles across all price ranges. Stop by, call or visit us online to learn more about how we will put the power of our exclusive network to work for you!
BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT TATEANDFOSS.COM
MARKET WATCH • 28
566 Washington Road • Rye, NH 03870 6 0 3 . 9 6 4 . 8 0 2 8 | Tatea n d Fo ss.co m