Below is the broker sponsored condo sales data for our area (Portsmouth, Dover, Rochester).
Report is from 4/1/14 –7/31/14
Portsmouth: DOM (Average days on the market) 53 : Ave. Price $356,861
Dover: DOM 40 : Average price 141,712
Rochester Report–DOM 99 : Average Price $74,109
Summary: WOW! The data continues to show a significant difference between our three biggest towns. Location! Portsmouth continues to shine. Only 53 days on the market is quick and price appreciation is steady. Unfortunately, for young families it’s a difficult housing market to participate in as most young families and people are priced out. Dover seems to be a happy medium as far as price point goes. Much going on in Dover and purchasing a condo is a nice entry point into the benefits of home ownership. Rochester continues to emerge from the real estate depression slowly. A lot of pressure on pricing as foreclosures linger. Next week we’ll look closer at condo’s, financing, etc.