Against a background of record low inventory, February sales of single-family homes in the Seacoast area bested last year's totals by 30%, according to statistics released by the Seacoast Board of Realtors.
The statistics draw from the towns of Exeter, Greenland, Hampton, Hampton Falls, New Castle, Newfields, Newington, North Hampton, Newmarket, Portsmouth, Rye, Seabrook and Stratham.
For the second straight month, inventory levels set a record low, the group reported. While the 43 sales were up from last year, it was still the slowest month since last February. Median sale prices followed suit and dropped to the lowest level since October 2016 at $391,000. For the year, single-family sales are up 27.3%, and the median sale price is up 4.9% at $480,000.
Condominium sales slipped 21.9% from last year to 32 units, although that was four sales more than last month. The February monthly median sale price of $283,500 eclipsed last year by 13.4%. For the year, condominium sales are off 9.6% while the median sale price of $278,700 shows almost no change from last year's $277,000.
"Overall, we are definitely off to a great start on the single-family side," said Kathy Ahlin, president of the Seacoast Board of Realtors, in a statement. "I think we are setting ourselves up for a very active spring market."
