Market Watch - 2016 Year in Review

Market Watch 2016 YEAR IN REVIEW

Jenness Beach, Rye NH

The 2016 real estate market was another strong sales year on the Seacoast. In fact, new records were set in total volume and median sale price. Over the last four months of 2016, however, Seacoast inventory dwindled to a new modern low. As a result, we saw a classic demonstration of the law of supply and demand. Buyers felt an urgency to act on new offerings, driving up prices in frequent multiple offer scenarios. This a trend that mirrors the National Association of REALTORS’ prediction for declining inventory and rising prices in 2017.

There is no question that Portsmouth and the greater Seacoast area continue to be attractive to buyers from all parts of New England, the country and the world. We enjoy meaningful professional employment, up to date infrastructure and access to world-class education. The area boasts high quality medical facilities, excellent restaurants, a thriving arts scene and proximity to Boston and three major airports. Not to mention the recreational opportunities here: the ocean, nearby mountains, golf courses and more. Indeed, there is something compelling for any demographic, from young professionals to retirees.

The Seacoast enjoys an abundance of luxury residences for sale; while inventory is plentiful and varied, sellers are experiencing longer marketing times as demographics change. 2016 saw 56 transactions involving $1M+ homes in our ‘13 Sample Seacoast Towns’ (see Page 4). However, inventory continued to grow, putting downward pressure on listing prices. As of mid-January 2017, usually a slow month for high-end transactions, there were 44 $1M+ single family listings on the market with an additional nine condos priced at $1M+; about 15% of the available 298 single family units are luxury properties. That seems like a lot of inventory to absorb.

Properties having the most difficulty finding buyers are those with living areas with 4,500+ square feet. They seem to require special features to put them in the sale column. Features like waterfront, excessive acreage or, basically, an extraordinary discount. Ominously, larger luxury home sales usually thrive when there are buyers with large families to fill them. But 85% of the millennial generation is single and 89% have no children.

It appears that almost every demographic group is flocking to urban living—especially as New Hampshire and Maine age (among the oldest U.S. states). So walkability is now a crucial factor. Proximity to downtown with high-end amenities and convenient services has become more important. It’s a trend clearly on display in Portsmouth, where we have seen a proliferation of high-end condominium construction. But, it’s not just aging Boomers who are snapping up these properties. In Boston, millennials represent 40% of residency. They bring with them a mindset of ‘less personal items and more personal life.’ The Seacoast is mirroring its urban neighbor.

As a result, the 2016 condo market set volume records month after month.

In 2017, interest rates are likely to reach a three-year high, but remain attractive and not that far from the record lows we have experienced. At the end of the day, we see a classic Seller’s market setting up. However, buyers can certainly be confident in the security of their Seacoast real estate investment—so there is something for everybody. We believe it will be another strong real estate year.

Our ‘stock in trade’ remains the upper end, luxury market. We have a sophisticated, talented sales team that knows this market well and a proven track record in high-end sales going back decades. We have built on that record by embracing new technology and lifestyle marketing. And behind us, of course, is the power of Sotheby’s International Realty, the acknowledged leader in luxury real estate throughout the world.

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

Green Gables, Rye Beach 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

With low inventory, bidding wars, price appreciation and decreasing days on market, the Seacoast area is without a doubt robust.

When a short supply of homes collides with high-income homebuyers, you get this type of hyper-competitive climate.

HISTORIC & ANTIQUE FARM & EQUESTRIAN OUR TEAM Pictured on Cover: Little Bay, Newington NH 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.

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MARKET WATCH • 2

Seacoast Overview

Exeter • Greenland • Hampton • Hampton Falls • New Castle • Newington • Newfields Newmarket • North Hampton • Portsmouth • Rye/Rye Beach • Seabrook • Stratham

2016 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$405,357 Number of Homes Sold

870 Days on Market

77 3 • MARKET WATCH

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Our team tracks 13 Sample Seacoast Towns* for residential sales and, as they did in 2015, the Seacoast Real Estate market set many new monthly volume records in 2016. At year’s end, prices were up on a new record annual volume, although that number was less than 1% more than all of 2015. By year’s end the Seacoast had seen four straight months of declining single family and condominium sales. Yet record monthly median sale prices were achieved in November: $434,516 for single family and $334,500 for condominium sales. The year closed with a total median sale price of $410,000— another record. There is no denying that Seacoast real estate represents a solid investment.

We break down the 13 towns into four price points: the ‘popular price range’ under $400,000; $400,000$700,000; $700,000 to $1M; and, $1M and above. Since we began tracking sales in 2011, there has never been a month when the volume in the upper price points exceeded that of the popular range.

That streak came to an end in November as, for the first time, sales volume for both single family and condominium units in the $400,000-$700,000 range outpaced those in the popular range. (Predicted in last year’s report!) As the 2017 market heats up, this range is likely to meet or exceed the popular range more than once. With inventory down 19% from 2016, we are unlikely to see many monthly or even an annual volume record. Prices should continue to rise if only through the law of supply and demand. *Exeter, Greenland, New Castle, Hampton, Hampton Falls, Newington, Newfields, Newmarket, North Hampton, Portsmouth, Rye, Seabrook, Stratham.

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MARKET WATCH • 4

Greater Portsmouth Area

Greenland • New Castle • Newington • Portsmouth • Rye • Rye Beach

2016 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$571,764 Number of Homes Sold

557 Days on Market

76 5 • MARKET WATCH

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Greenland

2015

2016

Number of Sales Days on Market Average Price Median Price Highest Price

79 84 $433,133 $405,000 $915,000

84 77 $517,236 $494,750 $3,010,000

Change 6% -8% 19% 22% 229%

New Castle

2015

2016

Change

Number of Sales Days on Market Average Price Median Price Highest Price

22 70 $1,231,955 $1,032,250 $4,000,000

23 77 $965,387 $975,000 $1,925,000

4% 9% -28% -6% -108%

Tax Rate: $16.65 Newington

2015

2016

Number of Sales Days on Market Average Price Median Price Highest Price

6 34 $780,500 $750,000 $949,000

10 99 $822,219 $704,500 $1,500,000

Tax Rate: $5.85 Change 40% 66% 5% -6% 37%

Portsmouth

2015

2016

Change

Number of Sales Days on Market Average Price Median Price Highest Price

362 43 $433,558 $361,500 $6,250,000

345 66 $483,053 $385,000 $3,000,000

-5% 35% 10% 6% -108%

Tax Rate: $9.15 Rye

2015

2016

Number of Sales Days on Market Average Price Median Price Highest Price

109 82 $705,148 $605,900 $2,375,000

89 107 $794,028 $694,500 $2,750,000

Tax Rate: $11.25

Tax Rate: $17.04 Change -22% -23% 11% 13% 14%

Rye Beach

2015

2016

Number of Sales Days on Market Average Price Median Price Highest Price

3 42 $1,231,667 $835,000 $2,350,000

6 133 $1,212,775 $1,212,500 $1,669,000

Change 50% 68% -2% 31% -41%

Tax Rate: $10.95

Portsmouth is the nucleus of the Seacoast. When we’re selling a house anywhere in this area, everyone wants to know how close it is to Portsmouth. You see it as well in ad copy for property being sold in other towns!

Portsmouth really does have it all—from theater to restaurants—it has a ‘sense of place.’ You walk down a street and you feel good about being there. Even new developments like Port Walk have their own sense of place—vital, youthful, sophisticated, upbeat and full of energy. It’s a perfect complement to the Historic District. Even so, with inventory levels 16-19% below where they were in 2015, sales were bound to decline and they did, though by only 5%. Portsmouth’s Days-On-Market was still the lowest (66 days) of any of the five abutting towns. Buyers were snapping-up what inventory there was, often spending $550,000-$600,000 or more for a fixer-upper on streets within walking distance to downtown.

Of the surrounding towns, Rye experienced the only other volume decrease, off 22% on 89 sales—the most of any town other than Portsmouth. Greenland had the lowest median sale price at $494,750, while Rye Beach and New Castle had the highest with median sale prices at $1,212,500 and $975,000 respectively. That mark easily makes the two communities the region’s most expensive. But houses were generally taking longer to sell as only Greenland (with more property in the ‘popular’ range) experienced a decline in days-on-market (-8%.) All six towns saw impressive high-end sales in excess of $1.5M, although only three of the six had bigger sales in 2016 than in 2015.

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MARKET WATCH • 6

The Hamptons

Hampton • Hampton Falls • North Hampton • Seabrook • South Hampton

2016 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$379,774 Number of Homes Sold

620 Days on Market

80 7 • MARKET WATCH

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Hampton

2015

2016

Number of Sales Days on Market Average Price Median Price Highest Price

408 93 $332,579 $296,500 $1,150,000

422 81 $338,422 $321,000 $2,250,000

Change

Hampton Falls

2015

2016

3% -14% 2% 8% 49%

Number of Sales Days on Market Average Price Median Price Highest Price

27 103 $481,889 $439,000 $848,000

37 92 $501,126 $450,000 $1,385,000

Tax Rate: $16.08 North Hampton 2015

2016

Number of Sales Days on Market Average Price Median Price Highest Price

68 75 $548,882 $492,938 $1,250,000

67 94 $562,325 $469,900 $1,700,000

27% -12% 4% 2% 39%

Tax Rate: $21.50 Change 1% -25% -2% 5% -36%

Seabrook

2015

2016

Change

Number of Sales Days on Market Average Price Median Price Highest Price

90 93 $483,245 $352,750 $3,500,000

84 80 $399,872 $337,500 $1,318,000

-7% -17% -21% -5% -166%

Tax Rate: $17.79

Tax Rate: $14.79

South Hampton 2015

2016

Change

Number of Sales Days on Market Average Price Median Price Highest Price

9 30 $354,567 $325,000 $796,700

-33% -220% -6% -10% 1%

12 97 $376,901 $357,450 $790,000

Change

Average Days on Market in North Hampton Down by

Tax Rate: $18.23

25%

Significant Sale: North Hampton $1,062,700 | May 2016 Listed by Tate & Foss Sotheby’s International Realty The Hamptons are a great place to live with excellent infrastructure and schools, beautiful sandy beaches and proximity to the Greater Boston Area. Hampton boasts the best value, and has always been more affordable than its sister towns to the north. This year that difference was truly profound with the average sales price almost $200,000 less than the Greater Portsmouth Area.

Not surprisingly, The Hamptons experienced a robust 2016: volume and median sale prices went up together, while days-on-market were down. Most notable was a 220% decline in days-on-market in South Hampton. Hampton saw the area’s highest sale price at $2.25M, while other towns struggled to record anything higher than $1.385M (Hampton Falls). Hampton also had the region’s lowest median sale price of $321,000; it won that distinction last year, too. While North Hampton’s highest sale price dropped to $1.285M, our company registered a $1,062,700 sale, one of the most significant in town.

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MARKET WATCH • 8

Greater Exeter Area

Brentwood • East Kingston • Exeter • Kensington • Newfields • Stratham

2016 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$362,563 Number of Homes Sold

622 Days on Market

68 9 • MARKET WATCH

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Brentwood

2015

2016

Number of Sales Days on Market Average Price Median Price Highest Price

58 72 $352,853 $369,000 $558,500

47 80 $383,991 $392,000 $560,000

Change -23% 10% 8% 6% 0.3%

East Kingston

2015

2016

Number of Sales Days on Market Average Price Median Price Highest Price

46 55 $298,650 $267,500 $535,000

39 49 $349,579 $359,900 $597,500

Tax Rate: $24.25 Exeter

2015

2016

Number of Sales Days on Market Average Price Median Price Highest Price

270 65 $307,566 $299,646 $870,000

291 65 $320,268 $309,900 $975,000

2015

2016

Number of Sales Days on Market Average Price Median Price Highest Price

23 61 $390,953 $394,000 $859,000

38 102 $440,158 $389,500 $865,000

Tax Rate: $23.22

-18% -13% 15% 26% 10%

Tax Rate: $24.79 Change 7% 1% 4% 3% 11%

Kensington

2015

2016

Number of Sales Days on Market Average Price Median Price Highest Price

22 89 $417,906 $358,450 $1,000,000

32 72 $382,502 $337,950 $687,000

Tax Rate: $26.24 Newfields

Change

Change 31% -23% -9% -6% -46%

Tax Rate: $23.51 Change 39% 40% 11% -1% 1%

Stratham

2015

2016

Number of Sales Days on Market Average Price Median Price Highest Price

163 77 $397,768 $397,500 $1,700,000

175 67 $409,536 $379,900 $1,019,700

Change 7% -15% 3% -5% -67%

Tax Rate: $20.40

Significant Sale: Stratham $920,000 | August 2016 Listed by Tate & Foss Sotheby’s International Realty If the Hamptons are affordable, Exeter is even more so. There’s a lot of square footage and value for the money. The area has one of the state’s finest high schools, newer infrastructure in Exeter, an NHL skating complex (Rinks at Exeter) and the Downeaster train to Boston/Portland. World famous Phillips Exeter Academy is here, UNH is nearby and Manchester Airport is just a 30-minute drive.

With so much going for it, the area did reasonably well in 2016. Days-on-market was down in three towns to a low of 49 in East Kingston, while it rose in three other communities, the highest being 102 in Newfields. East Kingston had the highest jump in median sale price—26% to $359,900. Newfields, Kensington and Stratham all experienced modest declines. Stratham had the area’s most significant sale at $1,019,700. Our company was not too far behind that mark with a $920,000 sale. This area was hit hard by the Great Recession and prices can still be said to be in recovery mode.

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MARKET WATCH • 10

Greater Dover Area

Dover • Rochester • Rollinsford • Somersworth

2016 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$227,688 Number of Homes Sold

1108 Days on Market

61 11 • MARKET WATCH

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Dover

2015

2016

Number of Sales Days on Market Average Price Median Price Highest Price

446 70 $276,047 $248,900 $1,611,975

490 57 $273,252 $243,000 $1,275,500

Change 9% -22% -1% -2% -26%

Rochester

2015

2016

Number of Sales Days on Market Average Price Median Price Highest Price

376 71 $162,223 $156,770 $385,000

398 62 $185,218 $184,000 $570,000

Tax Rate: $26.29 Rollinsford

2015

2016

Number of Sales Days on Market Average Price Median Price Highest Price

30 80 $244,178 $198,500 $578,350

45 58 $229,698 $185,000 $675,000

Tax Rate: $27.98

Change 6% -14% 12% 15% 32%

Tax Rate: $28.26 Change

Somersworth

2015

2016

33% -37% -6% -7% 14%

Number of Sales Days on Market Average Price Median Price Highest Price

141 81 $175,739 $169,900 $374,900

175 69 $196,179 $183,000 $394,900

Change 19% -17% 10% 7% 5%

Tax Rate: $32.12

Significant Sale: Dover $740,000 | August 2016 Listed by Tate & Foss Sotheby’s International Realty

The Greater Dover Area has been the chief beneficiary of its expensive Seacoast neighbors. But there is more than just an average sale price of $227,688 that attracts buyers. Downtown Dover is booming with new construction and renovation. There’s a sense of energy to this old river town that can be felt in its suddenly vibrant nightlife scene. Dover took away Portsmouth’s Children Museum and ran with it.

Quality education is a strong reality here with reconstruction plans for Dover High School. Berwick Academy, Portsmouth Christian Academy and St. Thomas Aquinas High School are all making their mark. UNH is just down the road. Wentworth Douglas Hospital is now affiliated with Mass General. Dover is also a gateway to the Lakes and White Mountain Regions. The Downeaster train makes travel to Boston or Portland easy. There are also important employment opportunities, not the least of which is the sprawling Liberty Mutual complex. No wonder people are moving here.

While the average Seacoast price was topping $400,000, buyers flocked to the Dover area. Snapping up available inventory, buyers caused an increase in sales volume in all four towns that we track. Further, days-on-market figures dropped by double-digit percentage points across the board. Median prices did not follow suit however with gains in the most affordable towns, Rochester and Somersworth and losses in Dover and Rollinsford. Dover remains the only town of the four with a median sale price exceeding $200,000 and the only town with a sale exceeding $1M.

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MARKET WATCH • 12

Greater Durham Area

Barrington • Durham • Lee • Madbury

2016 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$312,261 Number of Homes Sold

352 Days on Market

80 13 • MARKET WATCH

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Barrington

2015

2016

Number of Sales Days on Market Average Price Median Price Highest Price

153 83 $257,701 $253,500 $447,500

170 71 $278,674 $270,000 $725,000

Change 10% -16% 8% 6% 38%

Durham

2015

2016

Number of Sales Days on Market Average Price Median Price Highest Price

110 68 $351,391 $315,000 $1,200,000

92 86 $349,621 $332,250 $713,080

Tax Rate: $26.04 Lee

2015

2016

Number of Sales Days on Market Average Price Median Price Highest Price

59 68 $269,323 $267,900 $591,000

62 74 $340,704 $329,950 $660,000

Tax Rate: $29.25

Change -20% 21% -1% 5% -68%

Tax Rate: $29.73 Change 5% 8% 21% 19% 10%

Madbury

2015

2016

Number of Sales Days on Market Average Price Median Price Highest Price

21 66 $366,398 $299,900 $945,000

28 124 $330,450 $321,950 $762,000

Change 25% 47% -11% 7% -24%

Tax Rate: $28.59

Significant Sale: Madbury $762,000 | November 2016 Listed by Tate & Foss Sotheby’s International Realty

Durham has long been famous for the University of New Hampshire and Oyster River High School, ranked among the top one percent in the country. As New Hampshire and the nation grow older, these attributes have become more important. Experts have identified college towns as some of the fastest growing demographics in the country. The area also boasts a Downeaster train stop and is a gateway to the state’s rapidly growing capitol region. The horse farms of Madbury and Lee are harder to find but remain one of the few areas where large tracts of acreage can be purchased. And with an average sale price more than $200,000 less than the Greater Portsmouth Area, buyers are giving this part of the state a closer look.

Having said all that, oppressive real estate tax rates of $25 or more dampen prices and especially the upper end market here. No towns recorded a sale in excess of $762,000. But our company was proudly the price ‘pioneer’ by recording that one sale in Madbury. Still, only Durham, saddled by the area’s highest of the tax rates, experienced a declining sales volume. Barrington, with its exploding new infrastructure and new housing construction, recorded by far the most sales in the four towns. Last year was a very healthy one for the Greater Durham area. The potential is certainly there for another strong sales year in 2017.

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MARKET WATCH • 14

Eliot and The Berwicks

Berwick • Eliot • North Berwick • South Berwick

2016 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$267,093 Number of Homes Sold

363 Days on Market

66 15 • MARKET WATCH

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Berwick

2015

2016

Number of Sales Days on Market Average Price Median Price Highest Price

103 87 $209,800 $205,000 $575,000

118 59 $225,794 $235,000 $480,000

Change 13% -47% 7% 13% -20%

Eliot

2015

2016

Number of Sales Days on Market Average Price Median Price Highest Price

98 99 $313,121 $286,032 $615,000

95 76 $352,735 $312,000 $995,000

Tax Rate: $16.30 North Berwick

2015

2016

Number of Sales Days on Market Average Price Median Price Highest Price

55 85 $197,734 $195,000 $411,500

52 62 $241,152 $238,950 $460,000

Tax Rate: $12.60

Change -3% -30% 11% 8% 38%

Tax Rate: $14.05 Change

South Berwick

2015

2016

-6% -38% 18% 18% 11%

Number of Sales Days on Market Average Price Median Price Highest Price

104 69 $257,674 $236,000 $799,000

98 68 $247,564 $242,500 $450,000

Change -6% -1% -4% 3% -78%

Tax Rate: $18.30

Significant Sale: Eliot $490,000 | November 2016 Sold by Tate & Foss Sotheby’s International Realty

Eliot and the Berwick’s offer ‘elbow room’ for buyers seeking property with acreage. The area has ample boating opportunities along the Piscataqua and Salmon Falls Rivers, lovely walking parks such as the grounds abutting Hamilton House and more. There are excellent schools here including prestigious Berwick Academy and Marshwood High School. People move to Eliot for its school system. Wentworth Douglass and York Hospitals are nearby. Portland and its Jet Port are about 45 minutes away. All this and some of Maine’s lowest real estate taxes.

With an average sale price of $267,093 and its impressive schools, these communities are an attractive alternative to the pricey New Hampshire Seacoast. Be that as it may and while volume increased overall for a third straight year, Berwick was the only town that saw an increase in sales mostly due to new construction there. When sales happened, they went quickly with Berwick, North Berwick and Eliot all seeing days-on-market drop at least 30% to as little as 59 days.

The region had no $1M sales as non-coastal Maine still struggles to shake off the ravishes of the depression of 2007-2010. The region lost as much as 30% of its value in that period. Eliot had the biggest sale at $995,000, the first time in several years that a property in Eliot has sold for more than $700,000. Maine’s income tax can be a depressant to rising prices, compared with its tax-free neighbor on the opposite side of the river.

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MARKET WATCH • 16

Southern York County Coast

Kennebunk • Kennebunkport • Kittery • Ogunquit • Wells • York

2016 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$390,960 Number of Homes Sold

1289 Days on Market

95 17 • MARKET WATCH

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Kennebunk

2015

2016

Change

Kennebunkport 2015

2016

Number of Sales Days on Market Average Price Median Price Highest Price

246 107 $364,828 $289,000 $4,425,000

299 92 $350,208 $290,000 $2,100,000

18% -16% -4% 0% -111%

Number of Sales Days on Market Average Price Median Price Highest Price

81 121 $554,100 $448,900 $3,150,000

109 141 $714,197 $519,000 $3,995,000

2015

2016

Number of Sales Days on Market Average Price Median Price Highest Price

144 79 $354,501 $311,000 $1,350,000

155 73 $374,264 $313,500 $1,720,000

Change 7% -8% 5% 1% 22%

Ogunquit

2015

2016

Number of Sales Days on Market Average Price Median Price Highest Price

85 105 $489,496 $392,000 $2,275,000

76 84 $474,384 $442,000 $1,300,000

Tax Rate: $16.05 Wells

2015

2016

Number of Sales Days on Market Average Price Median Price Highest Price

309 102 $281,930 $245,000 $1,725,000

361 82 $313,196 $267,500 $2,200,000

Tax Rate: $10.06

-35% -17% -29% -16% -27%

Tax Rate: $8.28

Tax Rate: $15.90 Kittery

Change

Change -12% -25% -3% 11% -75%

Tax Rate: $8.07 Change 14% -24% 10% 8% 22%

York

2015

2016

Number of Sales Days on Market Average Price Median Price Highest Price

276 130 $486,380 $370,000 $3,597,500

317 120 $464,433 $375,000 $3,195,000

Change 13% -8% -5% 1% -13%

Tax Rate: $11.15

Significant Sale: Kittery $925,000 | October 2016 Listed by Tate & Foss Sotheby’s International Realty

Southern York County is famous for high quality waterfront with generally more privacy than New Hampshire; more sheltered harbors, better ocean access, and views can be extraordinary. All that aside, the area has great schools, York Hospital, Kittery Outlet malls and Ogunquit Playhouse. Portland and its Jet Port are just 45 minutes away. Kittery Foreside with its vibrant downtown and walkability to Portsmouth made it one of the hottest markets.

With all this and low real estate taxes, the area thrived in 2016, although it took longer to sell a home. Four of the six towns had increased sales volume and the median sale price improved in all but Kennebunkport which already had the highest at $448,900. The condo market exploded due to new construction and the aging demographic. As in 2015, Southern Maine saw some of the region’s most impressive prices with four of the six towns recording sales in excess of $2M. Our company was involved in Kittery’s second largest sale at 41 Bowen Road for $1.68M. ($380,000 more than 2015’s highest sale.)

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MARKET WATCH • 18

Luxury

Offered for Sale

255 Gosport Road, Portsmouth NH

2016 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$1,497,891 Number of Homes Sold

113 Days on Market

123 19 • MARKET WATCH

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NUMBER OF SALES DAYS ON MARKET AVERAGE PRICE MEDIAN PRICE HIGHEST PRICE

2015

2016

Change

76 128 $1,582,716 $1,287,500 $6,250,000

113 123 $1,497,891 $1,360,000 $3,195,000

33% -4% -6% 5% -96%

Significant Sale: Rye Beach $1,550,000 | December 2016 Listed by Tate & Foss Sotheby’s International Realty

Significant Sale: Rye Beach $1,669,000 | December 2016 Listed by Tate & Foss Sotheby’s International Realty

Significant Sale: New Castle $1,117,500 | December 2016 Listed by Tate & Foss Sotheby’s International Realty

10

Number of Luxury properties sold by TFSIR in 2016 Average sales price

$1,572,585

45% of all Luxury sales were in the

Greater Portsmouth Area

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MARKET WATCH • 20

Waterfront

Offered for Sale

Ten State Street, Portsmouth NH

2016 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$666,090 Number of Homes Sold

250 Days on Market

109 21 • MARKET WATCH

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NUMBER OF SALES DAYS ON MARKET AVERAGE PRICE MEDIAN PRICE HIGHEST PRICE

2015

2016

Change

323 117 $704,208 $425,000 $6,250,000

250 109 $666,090 $475,750 $3,195,000

-29% -8% -6% 11% -96%

Significant Sale: Rye $2,450,000 | September 2016 Sold by Tate & Foss Sotheby’s International Realty

Significant Sale: Hampton $2,250,000 | November 2016 Listed by Tate & Foss Sotheby’s International Realty

Significant Sale: Kittery ME $1,680,000 | August 2016 Listed by Tate & Foss Sotheby’s International Realty

9

Number of Waterfront properties sold by TFSIR in 2016 Average sales price

$1,073,334

38% of all Waterfront sales were above $700,000

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MARKET WATCH • 22

Historic & Antique

1 Central Road, Rye NH

Offered for Sale

2016 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$355,438 Number of Homes Sold

392 Days on Market

84 23 • MARKET WATCH

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NUMBER OF SALES DAYS ON MARKET AVERAGE PRICE MEDIAN PRICE HIGHEST PRICE

2015

2016

Change

349 88 $385,374 $299,900 $2,037,000

392 84 $355,438 $282,700 $3,000,000

11% -5% -8% -6% 32%

Significant Sale: Portsmouth $900,000 | July 2016 Listed by Tate & Foss Sotheby’s International Realty

Significant Sale: Portsmouth $875,000 | September 2016 Listed by Tate & Foss Sotheby’s International Realty

Significant Sale: Kittery $445,000 | September 2016 Listed by Tate & Foss Sotheby’s International Realty

8

Number of Historic & Antique properties sold by TFSIR in 2016 Average sales price

$687,545

32%

of all Historic & Antique sales above $700,000 were in Portsmouth

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MARKET WATCH • 24

Farm & Equestrian

8 Dancers Image Lane, North Hampton NH

Offered For Sale

2016 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$400,704 Number of Homes Sold

92 Days on Market

119 25 • MARKET WATCH

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NUMBER OF SALES DAYS ON MARKET AVERAGE PRICE MEDIAN PRICE HIGHEST PRICE

2015

2016

Change

89 126 $381,499 $340,000 $1,000,000

92 119 $400,704 $329,950 $3,150,000

3% -6% 5% -3% 68%

Significant Sale: Stratham $900,000 | March 2016 Listed by Tate & Foss Sotheby’s International Realty

Significant: South Hampton $796,700 | July 2016 Listed by Tate & Foss Sotheby’s International Realty

Significant Sale: Hampton Falls $465,000 | December 2016 Listed by Tate & Foss Sotheby’s International Realty

4

Number of Farm & Equestrian properties sold by TFSIR in 2016 Average sales price

$616,725

32%

of all Farm & Equestrian sales above $400,000 were in the Greater Exeter Area

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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

Brad Helm Sales Associate c 603.957.1866

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

Jenifer Parker Sales Associate c 603.498.0555

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

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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 Boston and around the globe.

Our Exclusive Property Marketing Plan Offers Unparalleled Exposure to Qualified Buyers in the Greater Boston Area...

Our #1 Referral Source and a Top 10 U.S. Market for Relocation and Vacation Homes.

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!

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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