Seacoast Market Watch Mid-Year Review 2020

Seacoast Market Watch 2020 MID-YEAR REVIEW

South End Waterfront, Portsmouth NH

We proudly welcome you to Seacoast Market Watch 2020 Mid-Year Review. Here we’ll walk you through all the communities that comprise our local real estate market. We’ll drill down behind the sales, take a brief glance at new construction, examine volume and price trends and show you where significant sales occurred.

2020 has been a whirlwind in the greater Seacoast area, and around the world for that matter, due to the coronavirus pandemic which manifested itself here in late March-early April. Initially, there was great uncertainty and the real estate market slowed to a virtual halt. With social distancing and new safety protocols required, we were challenged to invent new ways of conducting business…and that we did!

Our team has utilized 3D virtual tours as a property marketing tool for many years now, but real-time virtual showings with mobile technology became a ‘must’ to assist our clients. Ramping back up midSpring, we observed an interesting shift in our market. Fears associated with the virus caused people to reevaluate their lifestyles, spurring flight from major metropolitan areas to regions like the Seacoast, perceived as a safe place to live. Since then, we’ve operated in a fast-paced environment with multiple offers the norm across all price points. The high end, in particular, has thrived and many record sales have commenced. Tate & Foss Sotheby’s International Realty continues to have the highest average sales price ($953,195) in our market, with several landmark sales including Green Gables in Rye Beach at $3,250,000 in March. Against all odds, the pandemic effect has been positive for Seacoast real estate.

We hope you enjoy this edition of Seacoast Market Watch. And, when the time is right, we look forward to helping you meet all your real estate needs.

Anthony Jalbert Principal Broker 1 • SEACOAST MARKET WATCH

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Under Contract

Sections 3 5 7 9 11 13 15 17 19 21 23 25 27 29

2 Bradley Lane, North Hampton

Key Observations

SEACOAST OVERVIEW PORTSMOUTH AREA THE HAMPTONS EXETER AREA DOVER AREA DURHAM AREA SEACOAST LAKES AREA ELIOT & THE BERWICKS SO. YORK COUNTY COAST LUXURY WATERFRONT HISTORIC & ANTIQUE FARM & EQUESTRIAN

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

• For the second straight year, a record number of $1M sales • The most $1M sales in one month (June) • Lowest mortgage interest rates in 50 years • Record low inventory for single families and condos • Highest median monthly (June) sales price ever • Single family sales volume in 13 Sample Seacoast Towns down 23% • Single family median sales price up 14% • Condominium sales volume down 18% • Condominium median sales price up 4% • Tate & Foss SIR had the biggest sales in Portsmouth and Rye Beach

OUR TEAM

Pictured on Cover: Kennebunkport Town Beach, Maine Most photography featured in 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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SEACOAST MARKET WATCH • 2

Seacoast Overview

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

2020 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$556,943 Number of Homes Sold

625 Days on Market

66 3 • SEACOAST MARKET WATCH

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Last year, the 13 Sample Seacoast Towns* were in the middle of “a good, old-fashioned real estate rally.” This year, the one-two punch of record low inventory and uncertainty caused by the pandemic precipitated a record-breaking volume decline.

Month over month totals trailed 2019 for each of the first six months of 2020. Record low inventory totals were registered in February, March, April and June. May totals were the fewest since 2010.

The Covid factor manifested itself in April-May numbers as buyers and sellers were uncertain about whether to hunker down or venture forth. It was the worst April since 2013. May saw the fewest closings ever, a result of the fewest April pending sales since 2011.

By June, things had stabilized despite the fewest active listings ever. The high-end market produced a record 15 sales, a fact not lost on the state’s media. Nationally as well, high-end transactions were raising eyebrows from coast to coast.

This time, Covid-19 became a positive for our market. Fears of the virus spurred flight from major metropolitan areas to the Seacoast. Lifestyle changes were a factor in the rise of high-end sales.

More importantly, mortgage interest rates sank below 3% for the first time in 50 years. The June monthly median sale price soared to a record $612,500.

As the first half of 2020 ended, consumer confidence in local real estate never seemed more evident.

Only a lack of inventory could hold back the Seacoast real estate market. *13 Sample Seacoast Towns listed under photo on page 3 BROWSE ALL MLS LISTINGS AND LEARN MORE ABOUT THE MARKET AT LIVESEACOAST.COM

SEACOAST MARKET WATCH • 4

Greater Portsmouth Area

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

2020 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$732,059 Number of Homes Sold

224 Days on Market

66 5 • SEACOAST MARKET WATCH

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Greenland

2019 YTD

2020 YTD

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

24 67 $497,071 $385,000 $1,195,000

24 61 $545,283 $524,950 $825,000

Change 0% -9% 10% 36% -31%

New Castle

2019 YTD

2020 YTD

Change

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

8 113 $1,648,438 $1,087,500 $5,000,000

7 77 $1,250,286 $1,000,000 $2,452,000

-13% -31% -24% -8% -51%

Tax Rate: $16.40

Tax Rate: $6.19

Newington

2019 YTD

2020 YTD

Change

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

5 101 $690,800 $725,000 $880,000

2 95 $1,109,625 $1,109,625 $1,570,000

-60% -6% 61% 53% 78%

Portsmouth

2019 YTD

2020 YTD

Change

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

160 51 $563,573 $490,000 $2,500,000

147 62 $602,090 $560,000 $2,400,000

-8% 20% 7% 14% -4%

Tax Rate: $9.34

Tax Rate: $14.86

Rye

2019 YTD

2020 YTD

Change

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

37 55 $838,658 $770,000 $1,800,000

42 70 $1,105,619 $875,000 $4,600,000

14% 28% 32% 14% 156%

Rye Beach

2019 YTD

2020 YTD

Change

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

3 24 $1,849,000 $1,890,000 $1,900,000

2 277 $2,490,000 $2,490,000 $3,250,000

-33% 1036% 35% 32% 71%

Tax Rate: $10.60

Tax Rate: $10.60

The Greater Portsmouth Area with all its amenities and downtown community lifestyles was easily the most expensive place to buy through the first six months of 2020. Owning a median sales price of $615,000 on 224 transactions, consumers demonstrated they were more than willing to pay higher prices to be a part of it.

Rye was the only community of the six market towns to show a gain in sales—up 14% from last year. Boasting low taxes, oceanfront, golf, abundant recreational opportunities plus plenty of social distance, the town median sales price of $875,000 was the highest of any Seacoast Market Watch community with at least 10 transactions— New Hampshire or Maine.

Tate & Foss SIR had both sides of Rye Beach’s biggest sale at 210 South Road, iconic “Green Gables” which closed at $3.25 million.

Portsmouth’s volume was off 8%, but consumers scrambled to scoop up the available inventory, driving up median sales prices 14% to $560,000. Yet, in terms of volume, this was the fourth most active Seacoast Market Watch town. Some 13 sales met or exceeded $1,000,000 including a $2.4 million transaction at 5 Currier’s Cove.

The Tate & Foss SIR listing commanded the highest sales price in Portsmouth for the first half of the year.

Greenland’s median sales price of $524, 950 climbed 36% from last year--best gain in this market segment. Still, Greenland was the most “affordable” Greater Portsmouth town, based on 24 transactions—the same as last year. There were no $1 million-dollar sales in this community.

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SEACOAST MARKET WATCH • 6

The Hamptons

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

2020 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$480,568 Number of Homes Sold

216 Days on Market

70 7 • SEACOAST MARKET WATCH

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Hampton

2019 YTD

2020 YTD

Change

Hampton Falls

2019 YTD

2020 YTD

Change

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

196 55 $409,883 $370,000 $2,300,000

147 68 $404,459 $389,000 $1,176,000

-25% 23% -1% 5% -49%

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

14 72 $529,407 $551,950 $1,089,000

8 146 $763,113 $597,500 $1,650,000

-43% 104% 44% 8% 52%

Tax Rate: $16.01

Tax Rate: $22.11

North Hampton 2019 YTD

2020 YTD

Change

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

33 73 $797,778 $640,000 $3,370,000

-15% 4% 33% 11% 87%

39 70 $598,895 $574,900 $1,799,000

Tax Rate: $19.24 South Hampton 2019 YTD

2020 YTD

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

2 23 $543,750 $543,750 $677,500

4 99 $431,500 $372,500 $630,000

Seabrook

2019 YTD

2020 YTD

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

45 50 $473,733 $355,700 $2,800,000

26 60 $416,465 $395,750 $829,000

Change -42% 22% -12% 11% -70%

Tax Rate: $15.75

44%

Change -50% -77% 26% 46% 8%

Average Sales Price in Hampton Falls Up by

Tax Rate: $17.85

Significant Sale: North Hampton $1,225,000 I February 2020 Listed & Sold by Tate & Foss Sotheby’s International Realty The pandemic and inventory shortage affected this market across the board, as every town experienced a double-digit volume decrease. Hardest hit was Seabrook, which experienced the largest percentage decline of any Seacoast Market Watch town, some 42%. Again, this is for towns with 10 or more transactions. The sales totals stood in direct contrast to last year when the area got off to a roaring start and every town had more volume than the same period a year before.

Hampton with its commutability and seaside lifestyle, tied Portsmouth for fourth most sales. Despite a five percent gain in median sales price, the town remained relatively affordable at $389,000—about $140,000 less than any Greater Portsmouth Area town.

The $3.37 million sale of landmark 15 Willow Avenue in June gave North Hampton one of the biggest sales on the Seacoast. North Hampton’s median of $640,000 was highest of all the Hampton towns and second highest to Rye of all Seacoast Market Watch towns with 10 or more transactions.

Overall, the first six months of 2020 left the Hamptons down 28% in total volume, the second steepest decline behind the Greater Durham Area.

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SEACOAST MARKET WATCH • 8

Greater Exeter Area

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

2020 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$443,215 Number of Homes Sold

253 Days on Market

56 9 • SEACOAST MARKET WATCH

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Brentwood

2019 YTD

2020 YTD

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

23 52 $481,003 $475,000 $1,050,000

41 34 $462,796 $462,684 $725,000

Change 78% -34% -4% -3% -31%

East Kingston

2019 YTD

2020 YTD

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

16 57 $416,350 $415,000 $615,000

18 85 $446,647 $430,000 $704,104

Tax Rate: $27.70 2019 YTD

2020 YTD

Change

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

120 45 $373,338 $356,450 $1,000,000

110 56 $402,388 $387,000 $1,020,000

-8% 24% 8% 9% 2%

Kensington

2019 YTD

2020 YTD

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

16 49 $560,100 $632,500 $784,200

12 60 $518,617 $550,000 $788,500

Tax Rate: $23.27 2019 YTD

2020 YTD

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

11 93 $562,855 $500,000 $1,100,000

7 83 $478,571 $505,000 $750,000

13% 49% 7% 4% 14%

Tax Rate: $22.52

Exeter

Newfields

Change

Change -25% 23% -7% -13% 1%

Tax Rate: $19.46 Change -36% -11% -15% 1% -32%

Stratham

2019 YTD

2020 YTD

Change

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

71 64 $474,137 $450,405 $1,550,000

65 60 $481,328 $470,000 $1,051,000

-8% -7% 2% 4% -32%

Tax Rate: $20.59

Tax Rate: $18.63

Significant Sale: Exeter $810,000 | July 2020 Listed by Tate & Foss Sotheby’s International Realty For the second straight year, this market area is down from the previous six-month period. Still, of the three New Hampshire markets closest to the ocean, homes took the least amount of time to sell here, some 56 days.

As might be expected, Exeter itself was the clear volume leader, though like four of the six towns in this market, sales were off from 2019. Some 69% of sales here were in Exeter and Stratham.

Be that as it may, Brentwood enjoyed a 78% surge over 2019, tied for the largest percentage increase of any Seacoast Market Watch town. Most of this activity was due to 12 sales in the Villages at Three Ponds, a brand-new 55+ community. The construction there punches a demographic ticket: one-level living and a clubhouse area with swimming pool.

This market segment took a long time to recover from the Great Recession. All the more amazing that it recorded the second highest median sales price of the eight markets we monitor. And, thanks in part to Brentwood, it weathered the latest volume storm well, falling behind only 2% from last year.

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SEACOAST MARKET WATCH • 10

Greater Dover Area

Dover • Rochester • Rollinsford • Somersworth

2020 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$294,375 Number of Homes Sold

437 Days on Market

35 11 • SEACOAST MARKET WATCH

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Dover

2019 YTD

2020 YTD

Change

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

200 43 $317,644 $305,000 $850,000

211 39 $361,697 $329,900 $2,000,000

6% -10% 14% 8% 135%

Rochester

2019 TD

2020 YTD

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

198 48 $219,938 $223,400 $462,500

166 35 $216,832 $219,450 $492,000

Tax Rate: $25.19 Rollinsford

2019 YTD

2020 YTD

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

15 38 $379,730 $350,000 $980,000

14 36 $309,511 $262,325 $980,000

Change -16% -27% -1% -2% 6%

Tax Rate: $24.90 Change

Somersworth

2019 YTD

2020 YTD

-7% -6% -18% -25% 0%

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

76 59 $242,538 $230,000 $381,100

46 14 $260,800 $260,000 $404,900

Tax Rate: $25.28

Change -39% -76% 8% 13% 6%

Tax Rate: $27.28

Under Contract: Dover Offered at: $1,500,000 Sold by Tate & Foss Sotheby’s International Realty

Blink and the property you were hoping to buy is gone! That’s the story in this red- hot, affordable region where properties spend just 35 days on the market, easily the least amount of time in the Seacoast Market Watch communities. Bidding wars and multiple offers are common everywhere, but here they are almost the rule.

As usual, Dover and Rochester saw the most volume of any Seacoast Market Watch towns with Dover outdistancing the Lilac City, 211-166. Two (2) nine- and 10-lot subdivisions in South Dover and along Route 9 offered new construction in the $400,000 to $500,000 range and were selling out quickly.

Dover’s median price edged up 8% to $329,900.

Meanwhile, Rochester offered the lowest median price anywhere at $219,450. That is actually 2% off last year. By contrast, the town had no new construction projects to meet demand. As we observed last July, the Lilac City struggles to match Dover’s infrastructure and amenities.

There were no $1 million-dollar sales in this market last year, but Dover changed all that with a $2 million-dollar sale off Cullen Bay Road. Situated at the confluence of the Salmon Falls, Cocheco and Piscataqua Rivers, the 13-acre estate has a 6,300-square foot residence and 600-feet of water frontage.

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SEACOAST MARKET WATCH • 12

Greater Durham Area

Durham • Lee • Madbury • Newmarket

2020 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$406,514 Number of Homes Sold

156 Days on Market

48 13 • SEACOAST MARKET WATCH

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Newmarket

2019 YTD

2020 YTD

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

60 70 $371,155 $352,500 $817,785

55 55 $360,542 $341,000 $850,000

Change -8% -21% -3% -3% 4%

Durham

2019 YTD

2020 YTD

Change

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

45 101 $479,492 $390,000 $2,445,000

48 50 449,200 $410,000 $1,450,000

7% -50% -6% 5% -41%

Tax Rate: $24.26 Lee

2019 YTD

2020 YTD

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

28 84 $369,921 $377,200 $570,000

37 30 $400,636 $396,000 $613,213

Tax Rate: $27.43 Change 32% -64% 8% 5% 8%

Madbury

2019 YTD

2020 YTD

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

9 102 $449,533 $390,000 $649,900

16 59 $450,081 $432,500 $795,000

Tax Rate: $31.49

Change 78% -42% 0% 11% 22%

Tax Rate: $29.86

Fun Fact: Newmarket, NH was once called “Lampreyville” after The Lamprey River.

Only one Seacoast Market Watch area recorded positive volume numbers for the first six months of 2020 and this is it—to the tune of an impressive 9.8% gain. Such is the draw of lifestyle amenities like proximity to UNH, Amtrak, commutability, great schools and more. It also doesn’t hurt that the new Durham Riverwoods complex is here. All that plus a relatively modest median sales price of $386,000.

Of the four towns that comprise this market, only Newmarket saw a volume decline. Even in normally quiet Madbury, the 16 transactions were a huge 78% improvement over last year, tied for biggest gain with Brentwood.

Lee, which experienced a thumping 32% uptick, was boosted by new construction at Riverlee Commons, a 35-lot subdivision that saw 11 sales of homes priced in the $400,000s to low $600,000s.

Newmarket, while the only town with fewer sales than 2019, had 55 transactions, far more than any municipality among the Greater Durham Area communities. Here, new construction at Boulder Brook and now sold-out Lamprey’s Edge boosted total sales to within five transactions of last year’s totals.

In sum, despite Covid, this market bounced back with a vengeance in 2020, cutting the amount of time to sell property by an eye-popping 43%, best of all Seacoast Market Watch communities.

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SEACOAST MARKET WATCH • 14

Greater Seacoast Lakes Area

Barrington • Northwood • Nottingham • Strafford

2020 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$337,172 Number of Homes Sold

135 Days on Market

46 15 • SEACOAST MARKET WATCH

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Nottingham

2019 YTD

2020 YTD

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

48 32 $385,162 $375,000 $685,000

36 36 $348,450 $375,000 $442,500

Change -25% 11% -10% 0% -35%

Northwood

2019 YTD

2020 YTD

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

39 80 $286,755 $300,000 $649,900

27 45 $264,102 $274,900 $415,00

Tax Rate: $22.50

Change -31% -44% -8% -8% -36%

Tax Rate: $22.52

Strafford

2019 YTD

2020 YTD

Change

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

27 50 $334,586 $295,000 $709,000

22 48 $387,759 $321,500 $1,300,000

-19% -3% 16% 9% 83%

Barrington

2019 YTD

2020 YTD

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

55 80 $320,942 $319,000 $632,000

50 53 $346,252 $347,500 $616,935

Tax Rate: $23.47

Change -9% -34% 8% 9% -2%

Tax Rate: $22.67

Fun Fact: Barrington, NH is home to Calef’s Country Store, a local favorite since 1869!

Affordable country living is the draw in this market, which is topped only by Greater Dover as the most affordable area in which to live. With abundant lake front/view properties, Coe Brown Academy and commutability, the Seacoast Lakes Area seemed poised for a big year before the onset of Covid-19.

Last year, the region saw a 13% jump in median sales price. This year, both average and median sales prices basically flat-lined. With only 135 transactions, the area ranked last in sales volume. Part of this is as simple as lack of inventory. There were only 33 active listings as we went to press.

While every town in the region saw a decline in activity, Barrington and Nottingham were the leaders.

Barrington was spurred by sales at Moose Ridge, a 14-lot subdivision near Route 9 that has subsequently sold out. In Nottingham, 18-lot Maple Ridge has experienced five sales so far in 2020 with three lots still available.

The Seacoast Lakes Area recorded a rare $1 million-plus sale, where there were none last year. Once again, the $1,300,000 sale belonged to Strafford, which recorded the region’s biggest transaction in 2019, but that was for $709,000. This year’s top price prize goes to a 1997 cape on 2.2 acres with 350feet of Bow Lake frontage.

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SEACOAST MARKET WATCH • 16

Eliot and The Berwicks

Berwick • Eliot • North Berwick • South Berwick

2020 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$352,411 Number of Homes Sold

156 Days on Market

36 17 • SEACOAST MARKET WATCH

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Berwick

2019 YTD

2020 YTD

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

44 99 $270,638 $270,500 $391,250

41 35 $305,376 $310,000 $450,000

Change -7% -65% 13% 15% 15%

Eliot

2020 YTD

2020 YTD

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

34 141 $367,666 $375,950 $635,000

35 31 $448,965 $415,000 $845,000

Tax Rate: $17.53 North Berwick

2019 YTD

2020 YTD

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

42 112 $282,381 $269,950 $660,000

33 19 $314,107 $335,000 $480,000

Change 3% -78% 22% 10% 33%

Tax Rate: $14.70 Change

South Berwick

2019 YTD

2020 YTD

-21% -83% 11% 24% -27%

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

39 107 $283,942 $287,000 $486,000

47 52 $348,434 $355,000 $840,000

Tax Rate: $12.90

Change 21% -51% 23% 24% 73%

Tax Rate: $18.80

For Sale: Eliot Offered at $995,000 Listed by: Tate & Foss Sotheby’s International Realty

With everything that this region has going for it—great schools, proximity to outstanding healthcare, abundant recreational opportunities—it always amazes us that values have not fully recovered from the Great Recession. But those dark days may at last be behind.

For starters, the area’s volume dropped a mere 2%, while the time it takes to sell property here improved 68% to just 36 days, topped only by the Greater Dover market, directly across the Piscataqua River.

Meanwhile, the median sales price ticked up an impressive 15% to a still very affordable $338,500.

Big sales here are, as always, hard to come by. In fact, the most significant sale was $845,000 for a waterfront cape on Eliot’s Meadow Lane.

Driving volume in this market were 23 new construction sales, all modestly priced, and found in such developments as Bittersweet Lane in South Berwick, Oakwood Estates in North Berwick and Diamond Hill, Riverbend Estates and Sunset Avenue in Berwick.

This area has always lacked an urban core with “things to do,” deferring instead to Portsmouth, Dover and more recently Kittery. South Berwick comes closest to having such a lifestyle, albeit in miniature.

Throw in Berwick Academy and you may have the driving force behind the town’s 47 transactions, by far the highest in the region and 21% ahead of last year.

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SEACOAST MARKET WATCH • 18

Southern York County Coast

Kennebunk • Kennebunkport • Kittery • Ogunquit • Wells • York

2020 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$523,579 Number of Homes Sold

484 Days on Market

55 19 • SEACOAST MARKET WATCH

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Kennebunk

2019 YTD

2020 YTD

Change

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

126 84 $393,448 $332,500 $2,165,000

100 61 $519,210 $353,500 $5,750,000

-21% -28% 32% 6% 166%

Kennebunkport 2019 YTD

2020 YTD

Change

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

33 54 $576,613 $525,000 $2,280,000

43% -67% -41% -35% -38%

23 161 $970,517 $810,000 $3,700,000

Tax Rate: $9.45

Tax Rate: $17.50 Kittery

2019 YTD

2020 YTD

Change

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

58 69 $468,716 $427,000 $1,645,000

70 58 $543,195 $459,881 $1,650,000

21% -15% 16% 8% 0%

Ogunquit

2019 YTD

2020 YTD

Change

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

26 91 $632,024 $564,000 $2,100,000

26 42 $769,220 $631,250 $1,950,000

0% -54% 22% 12% -7%

Tax Rate: $17.40

Tax Rate: $8.00

Wells

2019 YTD

2020 YTD

Change

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

185 70 $368,711 $315,000 $1,525,000

150 60 $396,312 $377,820 $2,100,000

-19% -14% 7% 20% 38%

York

2019 YTD

2020 YTD

Change

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

133 83 $493,132 $435,000 $1,650,000

105 43 $618,980 $445,000 $5,000,000

-21% -49% 26% 2% 203%

Tax Rate: $10.42

Tax Rate: $11.15

Fun Fact: Kittery is the oldest town in Maine... followed by York!

With traditionally active markets like York, Wells and Kennebunk, this region experienced the most sales of the eight market areas. Still, thanks to lack of inventory and Covid, total sales were off 12%.

There were impressive closings all along the coast. In Kennebunk and York, oceanfront homes commanded $5.75 million and $5 million respectively, by far the biggest transactions in any market area. Ogunquit’s median sales price of $631,250 placed it third behind Rye and North Hampton. The region’s median sales price of $418,950 is a 10% improvement over 2019, putting it, again, third behind the Greater Exeter and Portsmouth Areas.

While Kennebunkport recorded the best improvement in volume, some 43%, Kittery also came in strong with a 21% gain. Kittery, of course, offers the vibrant Kittery Foreside. New subdivisions such as Huntington Run, Hutchins Creek and Landmark Hill (a total of 37 new lots) were changing the rural nature of this once sleepy cousin to Portsmouth. Finally, Wells saw the biggest gain in median sales price, up 20% to $377,820. Impacting the market here is the Villages at Hobbs Pond, a 55+ community with 13 new homesites in the first of several contemplated “villages.” The properties begin in the fives.

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SEACOAST MARKET WATCH • 20

Luxury

Under Contract: North Hampton | Offered at: $1,495,000 | Listed by Tate & Foss Sotheby’s International Realty

2020 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$1,598,002 Number of Homes Sold

100 Days on Market

73 21 • SEACOAST MARKET WATCH

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

2019 YTD

2020 YTD

Change

72 112 $1,539,630 $1,342,000 $5,000,000

100 73 $1,598,002 $1,372,500 $5,750,000

39% -35% 4% 2% 15%

Significant Sale: Rye $1,700,000 I January 2020 Sold by Tate & Foss Sotheby’s International Realty

Significant Sale: Rye Harbor $2,129,500 I April 2020 Listed by Tate & Foss Sotheby’s International Realty

Significant Sale: Portsmouth $2,200,000 I February 2020 Sold by Tate & Foss Sotheby’s International Realty

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Number of Luxury properties sold by TFSIR in 2020 YTD Average sales price

$1,462,643

42%

of all Luxury sales were in the So. York County Coast Area

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SEACOAST MARKET WATCH • 22

Waterfront

Significant Sale: Portsmouth | $2,400,000 | July 2020 | Listed by Tate & Foss Sotheby’s International Realty

2020 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$774,972 Number of Homes Sold

156 Days on Market

60 23 • SEACOAST MARKET WATCH

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

2019 YTD

2020 YTD

Change

130 103 $754,020 $550,000 $5,000,000

156 60 $774,972 $531,250 $5,750,000

20% -42% 3% -3% 15%

Significant Sale: Portsmouth $1,000,000 I February 2020 Listed by Tate & Foss Sotheby’s International Realty

Significant Sale: New Castle $1,000,000 I June 2020 Listed by Tate & Foss Sotheby’s International Realty

Under Contract: Portsmouth Offered at: $1,340,000 Listed by Tate & Foss Sotheby’s International Realty

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Number of Waterfront properties sold by TFSIR in 2020 YTD Average sales price

$1,028,014

26% of all Waterfront sales were above $900,000

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SEACOAST MARKET WATCH • 24

Historic & Antique

Significant Sale: Rye Beach | $3,250,000 | March 2020 | Listed & Sold by Tate & Foss Sotheby’s International Realty

2020 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$447,444 Number of Homes Sold

220 Days on Market

58 25 • SEACOAST MARKET WATCH

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

2019 YTD

2020 YTD

Change

249 64 $468,522 $344,900 $5,000,000

220 58 $447,444 $350,400 $3,250,000

-12% -13% -4% 2% -35%

For Sale: Rye Beach Offered at: $1,285,000 Listed by Tate & Foss Sotheby’s International Realty

Under Contract: Portsmouth Offered at $1,595,000 Listed by Tate & Foss Sotheby’s International Realty

For Sale: Portsmouth Offered at $1,950,000 Listed by Tate & Foss Sotheby’s International Realty

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Number of Historic & Antique properties sold by TFSIR in 2020 YTD Average sales price

$1,427,500

26%

of all Historic & Antique sales were in the city of Dover

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SEACOAST MARKET WATCH • 26

Farm & Equestrian

For Sale: Rollinsford | Offered at: $2,500,000 | | Listed by Tate & Foss Sotheby’s International Realty

2020 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$436,483 Number of Homes Sold

65 Days on Market

74 27 • SEACOAST MARKET WATCH

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

2019 YTD

2020 YTD

Change

69 92 $520,181 $410,000 $1,550,000

65 74 $436,483 $360,000 $1,445,000

-6% -20% -16% -12% -7%

For Sale: North Hampton Offered at: $5,200,000 Listed by Tate & Foss Sotheby’s International Realty

Historic Runnymede Farm Equestrian Facility 6.31 acres I 4080 sf Barn

Fun Fact: Runnymede Farm was the home to the famous, albeit contentious, 1968 Kentucky Derby winner Dancers Image!

3

Number of Farm & Equestrian properties that sold above $900,000 in 2020 YTD

40%

of all Farm & Equestrian sales were in Eliot and The Berwicks

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SEACOAST MARKET WATCH • 28

Our Team

Peter Allen Sales Associate c 603.930.3595

Karen Butz Webb Sales Associate c 603.475.1135

Katie Fontana Sales Associate c 603.502.6890

Robyne Harrison Sales Associate c 603.918.6093

Mary Beth Hixon Sales Associate c 603.548.5380

Tony Jalbert Principal Broker c 603.498.6241

Lynne Joyce Associate Broker c 603.591.8489

Manuela Kutzer Sales Associate c 603.828.2195

Caren Logan Sales Associate c 603.370.0544

Brett Mulvey Sales Associate c 603.396.6098

Jenifer Parker Sales Associate c 603.498.0555

Sharon Parker Sales Associate c 603.828.1705

29 • SEACOAST MARKET WATCH

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Our Team

John Rice Associate Broker c 603.498.4034

Jennie Sexton Gallant Sales Associate c 603.817.9089

Barb Shea Sales Associate c 603.498.2115

Brooks Stevens Sales Associate c 603.828.6727

Ned Tate Associate Broker c 603.531.1040

Patricia Weathersby Sales Associate c 603.957.1430

Jaynee Whitney Sales Associate c 603.380.5140

Kasey Gossom Marketing Assistant o 603.964.8028

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SEACOAST MARKET WATCH • 30

TOP 10 REASONS TO LIST WITH TATE & FOSS SOTHEBY’S INTERNATIONAL REALTY

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LEGACY

BRAND

Sotheby’s has been uniting collectors with worldclass works of art since 1744. That legacy is alive in the collaboration that exists between the auction house and realty, and all that is done to leverage our brand’s rich history, heritage and sophistication within the global markets we serve.

Sotheby’s is a rare brand that instantly evokes quality, service and an appreciation of truly valuable items. This positioning allows us to connect with affluent consumers who share in our brand vision and commitment to excellence.

3

4

PEOPLE

NETWORK

Our sales associates, staff and partners contribute to our success every day. Our team is exceptionally experienced and our associates are highly qualified advisors who go above and beyond to facilitate all of our clients’ real estate needs.

Sotheby’s International Realty represents the only true, worldwide real estate network. Thousands of office-to-office referrals are processed every year and many events are held to ensure that our associates establish great business relationships within the network.

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6

MARKETING

REACH

Sotheby’s International Realty has an extraordinary domestic and international marketing plan, which incudes. partnerships with leading media such as the Wall Street Journal, New York Times and Architectural Digest to provide the best exposure for SIR listings.

With an outstanding brand, a robust marketing plan and a strong network, we have unparalled reach to qualified home buyers. Tate & Foss Sotheby’s International Realty associates are able to tailor their plans to target an array of unique buyer profiles.

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8

STANDARDS

SERVICE

Our property marketing is developed with the highest standards in mind. High-resolution imagery, eloquent description writing and impeccable presentation are essential to every Tate & Foss Sotheby’s International Realty listing.

Our high standards are not marketing specific.

Tate & Foss Sotheby’s International Realty sales associates pride themselves in offering white-glove service from beginning to end, establishing longlasting relationships with their clients.

TRACK RECORD

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OVERALL EXPERIENCE

Over the last 40+ years, Tate & Foss Sotheby’s International Realty has developed an impressive track record, closing many significant sales. We have a reputation for selling a majority of the Seacoast’s unique, luxury and waterfront properties across all price points.

All prior points combine to create an outstanding, seamless client experience. For hundreds of years, the Sotheby’s brand has grown and excelled due to its respect for tradition and focus on innovation.

Tate & Foss Sotheby’s International Realty is no exception.

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