Market watch 2017 mid year review

Page 1

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


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.