Seacoast Market Watch: 2019 Mid-Year Review

Seacoast Market Watch 2019 MID-YEAR REVIEW

Rye Harbor

We are extremely proud to bring you our Summer 2019 Mid-Year Review edition of Market Watch. In these pages, you will discover an easy-to-read analysis of the local real estate market from Hampton to Kennebunkport.

More and more, as we see new development and we look at where people are buying and how much they are willing to pay, certain demographics become clear. To be sure, New Hampshire is a retirement destination. Low taxes, solid infrastructure, good healthcare and “things to do” make the Seacoast area particularly attractive to this market.

Younger buyers are also attracted here not only for those reasons previously mentioned, but also for strong employment opportunities, commutability and outstanding schools. These are excellent times for the area in which we live in general and real estate in particular. The record performance of the upper-end market confirms it.

To be sure, five of eight “Market Watch” regions had fewer sales in the first six months of 2019 than 2018. But only one lost value as defined by median price—and that was -3%. At the end of the day, affordability is likely to become the defining issue of our marketplace. For now, it exudes consumer confidence and that is the most important ingredient to a healthy real estate market.

Once again, it is our pleasure to bring you another edition of Market Watch. Enjoy!

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 29

25 Cotton Farm 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

• Year opens with record low inventory levels, although some of this is seasonal.

• Inventory levels in 2018 did not fall appreciably behind 2017, but were still about 20% behind 2016 and beyond.

• Interest rates are creeping up.

• Consumer confidence flagged in the second half of 2018 for a variety of reasons.

• Median sales prices fluctuated with no clear-cut trend.

• The year finishes with sales slightly down and median sales prices slightly up.

OUR TEAM

Pictured on Cover: South End Waterfront, Portsmouth NH 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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MARKET WATCH • 2

Seacoast Overview

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

2019 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$497,691 Number of Homes Sold

793 Days on Market

57 3 • MARKET WATCH

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Last year at this time, we were bemoaning a “cooling in the pace” of our real estate market as defined by the 13 Sample Seacoast Towns of Exeter, Greenland, Hampton, Hampton Falls, New Castle, Newfields, Newington, North Hampton, Newmarket, Portsmouth, Rye/Rye Beach, Seabrook and Stratham.

As they say, what a difference a year makes. Except for a slight hiccup in February, the first six months of 2019 have witnessed an “old fashioned real estate rally.” Since March, the month-over-month total has improved. Since April, those monthly totals have exceeded the year before, leaving the single-family market up 10.3% as of June 30 with a median sale price of $450,000, up 6.7%.

We saw a record monthly median sale price of $586,750 in January and record sales volume in the $400,000-$700,000 price range in June. All this against a background of inventory shrunk to levels at times as much as 39% below where they were four years ago. For sure, more and more properties are sold without hitting the open market as Realtors scrambled to “dig out” product for their buyers.

Condominium sales have improved by modest increments every month so far. Yet total volume lags 11.2% behind 2018. Median prices had increased every month until a $6,400 decline in June left the sixmonth median at $339,900—up 7.2% for the year.

Flying under the radar was the spectacular performance of the single-family high-end market. This price point set a six-month January to June modern record with 31 transactions in excess of $1 million, five more than last year and one more than 2017. What better indication of consumer confidence in the local real estate product could there be?

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MARKET WATCH • 4

Greater Portsmouth Area

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

2019 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$655,359 Number of Homes Sold

237 Days on Market

56 5 • MARKET WATCH

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Greenland

2018 YTD

2019 YTD

Change

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

52 69 $525,978 $547,450 $1,650,000

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

-54% -2% -5% -30% -28%

New Castle

2018 YTD

2019 YTD

Change

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

10 115 $1,240,800 $881,000 $2,620,000

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

-20% -2% 33% 23% 91%

Tax Rate: $15.79

Tax Rate: $6.00

Newington

2018 YTD

2019 YTD

Change

Portsmouth

2018 YTD

2019 YTD

Change

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

1 1 $700,450 $700,450 $700,450

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

400% 9980% -1% 4% 26%

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

148 60 $550,679 $452,500 $3,697,500

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

8% -14% 2% 8% -32%

Tax Rate: $9.27

Tax Rate: $15.84

Rye

2018 YTD

2019 YTD

Change

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

38 100 $953,698 $656,438 $4,950,000

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

-3% -45% -12% 17% -64%

Tax Rate: $10.60

Rye Beach

2018 YTD

2019 YTD

Change

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

3 12 $1,370,633 $1,850,000 $1,857,900

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

0% 97% 35% 2% 2%

Tax Rate: $10.60

The Greater Portsmouth Area has the ocean, an abundance of amenities and “things to do.” Small wonder median sales prices topped $1,000,000 in two of its six market towns. It was easily the most expensive Market Watch area in the first six months of 2019.

Still, sales were off six percent thanks to flagging inventory and challenging affordability. But Portsmouth still enjoyed an eight percent surge, one of just two towns to register an increase. The city remains a robust cultural center for a large geographical area, creating huge demand to live within walking distance of the action. Tate & Foss SIR brought the buyers to one of the city’s most significant condominium sales at 28 Porter Street.

The period saw only eight transactions in New Castle and three in Rye Beach, but average prices in both towns were well over $1.6 million. A $5 million transaction at 136 Wild Rose Lane in New Castle was the largest among Market Watch towns. Tate & Foss SIR had the two biggest sale in Rye (both at $1.8 million) where sales were off 3% and the median was a healthy $770,000.

Only Newington failed to register a $1m-plus sale, even though the town saw four more sales than last year. The aforementioned three sales in Rye Beach were the fewest of any town, but this was strictly an inventory thing.

The properties sold quickly in an average of 24 days.

Greenland was a very affordable alternative with a median sales price under $400,000. The town still absorbed a 54% volume hit as buyers sought locations with more enhanced amenities. It took an average 67 days to sell a Greenland home as opposed to 51 in Portsmouth.

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MARKET WATCH • 6

The Hamptons

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

2019 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$450,167 Number of Homes Sold

298 Days on Market

58 7 • MARKET WATCH

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Hampton

2018 YTD

2019 YTD

Change

Hampton Falls

2018 YTD

2019 YTD

Change

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

154 69 $358,489 $359,950 $965,000

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

27% -20% 14% 3% 138%

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

13 49 $573,069 $575,000 $1,145,000

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

8% 46% -8% -4% -5%

Tax Rate: $17.02

Tax Rate: $19.90

North Hampton 2018 YTD

2019 YTD

Change

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

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

11% -30% -8% 0% -18%

35 100 $650,193 $575,000 $2,200,000

Seabrook

2018 YTD

2019 YTD

Change

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

33 55 $436,946 $385,000 $1,395,000

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

36% -9% 8% -8% 101%

Tax Rate: $16.24 South Hampton 2018 YTD

2019 YTD

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

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

4 47 $556,225 $567,450 $750,000

Tax Rate: $16.25

27%

Change 0% 113% -22% -34% -16%

Number of Sales in Hampton Up by

Tax Rate: $16.67

For Sale: North Hampton Offered at: $1,600,000 Listed by Tate & Foss Sotheby’s International Realty After experiencing a major drop off in sales at this time last year, the Hamptons rallied for a 25% gain in 2019. That was the best volume improvement in any of the market areas. Hampton itself had the most sales and the second biggest gain—27%--while, literally, “no town was left behind.”

With a buying demographic looking for more than just real estate, Hampton offers its world-famous beaches and proximity to all major commuting routes. And, significantly, a median sale price under $400,000, way less than any Greater Portsmouth town.

The best bargains, however, were to be found in tax-friendly Seabrook where sales jumped 36% as the sales median slipped 8% to $355,700. On the opposite side of the ledger, both Hampton and Seabrook saw three impressive sales for more than $2 million, all homes on sandy beaches.

North Hampton came in with the highest median at $574,900—almost exactly where it was last year. All the same, the sales in Seabrook and Hampton remained the biggest of the five Hampton market towns.

Overall, it was a great start for the Hamptons which outdid itself across the board from 2018.

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MARKET WATCH • 8

Greater Exeter Area

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

2019 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$433,237 Number of Homes Sold

257 Days on Market

54 9 • MARKET WATCH

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Brentwood

2018 YTD

2019 YTD

Change

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

32 67 $384,761 $379,189 $545,000

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

-28% -22% 25% 25% 93%

East Kingston

2018 YTD

2019 YTD

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

11 37 $386,045 $385,500 $630,000

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

Tax Rate: $25.83

45% 52% 8% 8% -2%

Tax Rate: $26.05

Exeter

2018 YTD

2019 YTD

Change

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

111 47 $369,722 $345,000 $815,000

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

8% -4% 1% 3% 23%

Kensington

2018 YTD

2019 YTD

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

14 61 $457,424 $412,000 $916,653

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

Tax Rate: $27.50

Change 14% -21% 22% 54% -14%

Tax Rate: $18.55

Newfields

2018 YTD

2019 YTD

Change

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

14 46 $516,175 $557,500 $705,000

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

-21% 103% 9% -10% 56%

Tax Rate: $19.85

Change

Stratham

2018 YTD

2019 YTD

Change

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

85 45 $420,936 $403,000 $842,500

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

-16% 43% 13% 12% 84%

Tax Rate: $21.00

Significant Sale: Newfields $1,100,000 | April 2019 Listed by Tate & Foss Sotheby’s International Realty While sales were off four percent for the period, the Greater Exeter Area saw several impressive transactions that just a few years ago would’ve been unthinkable. Exeter itself continues to be a huge draw with an improved downtown, first-class public and private schools, the Amtrak train and Rinks at Exeter.

But, as we hinted, where $1 million-plus sales were once non-existent, four of the six towns had sales of at least $1 million with a $1,550,000 transaction in Stratham being the biggest. Tate & Foss SIR participated in the largest sales in Brentwood and Newfields, respectively. Kensington and East Kingston each had significant increases in sales, though none exceeded $785,000. Still, Kensington’s median of $632,500 was by far the region’s highest.

Of the area’s 257 sales, almost 200 or 78% were in Exeter and Stratham. Surprisingly, Greater Exeter had the second lowest days-on-market count (54) behind only the red-hot Dover area. Last year, Greater Exeter was a region coming into its own with remarkable affordability and a corresponding boost in sales.

That secret is apparently out, and the region is now clearly appreciating and finally leaving the ravishes of the last downturn behind.

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MARKET WATCH • 10

Greater Dover Area

Dover • Rochester • Rollinsford • Somersworth

2019 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$268,314 Number of Homes Sold

489 Days on Market

47 11 • MARKET WATCH

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Dover

2018 YTD

2019 YTD

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

221 59 $332,480 $305,105 $1,500,000

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

Change -10% -27% -4% 0% -43%

Rochester

2018 YTD

2019 YTD

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

225 50 $221,042 $219,900 $429,900

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

Tax Rate: $24.92 Rollinsford

2018 YTD

2019 YTD

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

15 83 $370,347 $364,900 $875,000

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

Dover has the largest population in the NH Seacoast Region

-12% -4% 0% 2% 8%

Tax Rate: $27.52 Change

Somersworth

2018 YTD

2019 YTD

0% -54% 3% -4% 12%

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

68 58 $232,546 $220,000 $408,600

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

Tax Rate: $24.14

Fun Fact:

Change

Change 12% 2% 4% 5% -7%

Tax Rate: $33.41

Number of Days on Market in Dover Down by

27%

Last summer we predicted that as long as the Greater Dover Area median sale price trailed Portsmouth by $300,000, it would continue to be the most active market. As of July 1, the Dover area median was $301,000 less at $249,000. Subsequently, the area was easily the most active of New Hampshire Market Watch towns.

The town of Dover traded places with Rochester as the busiest market with 200 sales to the Lilac City’s 198. This even though Dover’s median price remained just as it was last year at $305,000, a full $81,600 higher than Rochester, which appreciated a modest 2%. Clearly, Dover has the infrastructure and amenities that Rochester struggles to emulate. But Rochester remains easily in reach of cash-strapped buyers.

There were no $1 million sales to be found, but buyers were snapping up houses faster here than any other market area. Multiple offers were the rule rather than the exception as sellers had the luxury of picking and choosing contracts on the most favorable terms.

Interestingly, the region was the only New Hampshire market that lost average value, coming in at -2% for the year. The lack of high-end transactions was likely the culprit here. The biggest sales in Rochester and Somersworth, for example, were less than $465,000.

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MARKET WATCH • 12

Greater Durham Area

Durham • Lee • Madbury • Newmarket

2019 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$410,211 Number of Homes Sold

142 Days on Market

84 13 • MARKET WATCH

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Newmarket

2018 YTD

2019 YTD

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

49 59 $390,872 $360,000 $980,000

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

Change 22% 18% -5% -2% -17%

Durham

2018 YTD

2019 YTD

Change

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

55 40 $390,553 $365,000 $1,450,000

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

-18% 151% 23% 7% 69%

Tax Rate: $29.24 Lee

2018 YTD

2019 YTD

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

26 103 $380,342 $353,117 $1,160,000

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

Tax Rate: $30.57

Tax Rate: $26.80 Change 8% -18% -3% 7% -51%

Madbury

2018 YTD

2019 YTD

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

11 82 $461,618 $450,000 $725,000

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

Change -18% 24% -3% -13% -10%

Tax Rate: $29.98

Significant Sale: Newmarket $821,760 | February 2019 Sold by Tate & Foss Sotheby’s International Realty

With UNH, Amtrak, top-notch high schools and now the Riverwoods complex, the Greater Durham Area would seem to be positioned well for strong sales activity. But the region straight-lined over the year, producing just one more sale than 2018. The 142 total sales were the least of any market area.

One culprit that has always served to tamp down prices here are high property taxes. Nevertheless, Newmarket saw a healthy 22% jump in sales, while Madbury and Durham both lost ground to the tune of 18%. Appreciation was uneven. Madbury and Newmarket experienced slight declines in median sale price, but Durham and Lee each improved 7%.

Tate & Foss SIR brokered the biggest sale in Newmarket, though Durham saw the region’s highest price.

That was an impressive $2.445 million for 345 Bay Road, a 9,000 sf residence on 17+ acres with 1,230 feet of Great Bay frontage. The property had been on the market for four years.

Coming back to earth, Madbury and Durham each had modest median sales prices at $390,000, the region’s priciest towns. Durham sellers had to wait 101 days to sell their homes or 151% more than last year. That ties Durham with Newington as the town with the longest DOM. Again, this may all come down in large part to the town tax rate which is $26.80. The rate had been as high as $30.64 in 2017.

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MARKET WATCH • 14

Greater Seacoast Lakes Area

Barrington • Northwood • Nottingham • Strafford

2019 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$333,472 Number of Homes Sold

169 Days on Market

62 15 • MARKET WATCH

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Nottingham

2018 YTD

2019 YTD

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

38 66 $281,098 $294,900 $437,600

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

Change 26% -51% 37% 27% 57%

Northwood

2018 YTD

2019 YTD

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

37 74 $272,659 $254,900 $690,000

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

Tax Rate: $22.64 Strafford

2018 YTD

2019 YTD

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

20 27 $337,420 $307,500 $660,000

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

Tax Rate: $23.63

Change 5% 8% 5% 18% -6%

Tax Rate: $25.68 Change 35% 81% -1% -4% 7%

Barrington

2018 YTD

2019 YTD

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

61 71 $309,469 $318,000 $875,000

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

Change -10% 14% 4% 0% -28%

Tax Rate: $24.78

Significant Sale: Nottingham $475,000 | April 2019 Listed by Tate & Foss Sotheby’s International Realty

The Seacoast Lakes Area offers a relaxed, water-oriented lifestyle in a rural setting. Yet the option to commute to Manchester, Portsmouth or Concord is easily doable. Infrastructure improvements have been ongoing and, coupled with affordability, have made the region increasingly attractive to buyers.

The most obvious proof of all this was a 13% jump in median price, far and away the highest improvement of any market area. Nottingham, where sales volume improved 26%, saw an impressive 27% increase in median sale price—to a still affordable $375,000. In Strafford, sales surged an even more impressive 35% although median prices slipped 2% to $295,000, lowest of the four market towns.

Barrington had the region’s most sales—an 8% improvement from 2018. There were no $1 million sales in the region, but each town had a transaction of more than $630,000. The biggest transaction was $709,000 in Strafford, a Tate & Foss SIR sale. For the record, that was a residence on Bow Lake with a dock.

The Seacoast Lakes Area is a market that bears watching over the months ahead. The region remains a very attractive option for Buyers looking for “quality of living” at an affordable price.

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MARKET WATCH • 16

Eliot and The Berwicks

Berwick • Eliot • North Berwick • South Berwick

2019 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$297,751 Number of Homes Sold

159 Days on Market

114 17 • MARKET WATCH

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Berwick

2018 YTD

2019 YTD

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

56 30 $227,633 $223,000 $389,900

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

Change -21% 236% 19% 21% 0%

Eliot

2018 YTD

2019 YTD

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

52 72 $358,238 $337,750 $679,000

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

Tax Rate: $17.60 North Berwick

2018 YTD

2019 YTD

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

24 63 $260,517 $258,950 $670,000

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

Tax Rate: $12.90

Change -35% 96% 3% 11% -6%

Tax Rate: $14.70 Change

South Berwick

2017

2019 YTD

75% 78% 8% 4% -1%

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

47 36 $286,086 $285,000 $474,900

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

Change 7% 193% -1% 1% 2%

Tax Rate: $19.30

Significant Sale: Eliot $318,629 | April 2019 Sold by Tate & Foss Sotheby’s International Realty

With so much to offer, this rural market area in southern Maine nevertheless struggled to maintain newfound sales momentum from this time last year. The region has outstanding public schools and Berwick Academy, access to great healthcare, homes in pastoral settings and abundant aquatic recreational activities on the Cocheco, Salmon Falls and Piscataqua Rivers.

Despite all that, homes were taking 114 days to sell, slowest of any market on either side of the Piscataqua. Volume dropped 11%—again topping all markets for biggest decline. Yet median prices still increased 7% to a very affordable $295,000, some $240,000 less than Greater Portsmouth.

There were no million-dollar sales in the region with highest prices coming in somewhere south of $665,000. Berwick, South Berwick and Eliot all sustained double-digit decreases in sales volume with only North Berwick showing a gain—and a substantial one at that: 75%. Not coincidently, North Berwick had the lowest median sale price at $269,950. Eliot prices jumped 11% to a region-high $375,900.

The popular modern buying demographic prefers, as we’ve said, a downtown with “things to do,” great schools and meaningful employment to name a few. All that’s missing in this market area is a vibrant downtown space.

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MARKET WATCH • 18

Southern York County Coast

Kennebunk • Kennebunkport • Kittery • Ogunquit • Wells • York

2019 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$452,473 Number of Homes Sold

551 Days on Market

71 19 • MARKET WATCH

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Kennebunk

2018 YTD

2019 YTD

Change

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

127 75 $383,009 $345,000 $1,495,000

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

-1% 12% 3% -4% 45%

Kennebunkport 2018 YTD

2019 YTD

Change

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

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

-50% 23% 46% 47% 109%

46 131 $667,000 $550,000 $1,767,900

Tax Rate: $8.76

Tax Rate: $17.50 Kittery

2018

2019 YTD

Change

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

55 57 $383,650 $342,000 $1,160,000

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

5% 21% 22% 25% 42%

Ogunquit

2018 YTD

2019 YTD

Change

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

38 87 $617,745 $610,000 $1,280,000

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

-32% 5% 2% -8% 64%

Tax Rate: $16.80

Tax Rate: $7.58

Wells

2018 YTD

2019 YTD

Change

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

195 77 $312,564 $270,000 $1,690,000

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

-5% -8% 18% 17% -10%

Tax Rate: $10.32

York

2018 YTD

2019 YTD

Change

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

136 99 $498,718 $427,500 $2,297,500

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

-2% -16% -1% 2% -28%

Tax Rate: $11.15

Under Contract: Kittery Point Offered at $795,000 Listed by Tate & Foss Sotheby’s International Realty Talk about “things to do.” Take Route One north from Kittery to the Kennebunks and its easy to see that this area is exploding. You’ll discover a myriad of new businesses, hotels and restaurants all mostly catering to a thriving seasonal market. Here were more sales than any other market.

Wells, anchored by the beach and popular Drake’s Island, is perhaps the epicenter of the Southern York County seasonal market. The town recorded 185 sales, most in the region. Kennebunk and York also had triple digit sales, enough to support a historically thriving real estate industry.

There were, of course, million-dollar transactions in every town, including a $3.7 million transaction in Kennebunkport, the largest in the region. The Bushes may be gone, but the median sale price soared here to $810,000—a 47% gain. To be sure, New Castle and Rye Beach had median sale prices that each topped $1 million dollars, the only towns with a higher median. But those numbers were computed on a total of 11 sales between the two towns. There were 23 sales in Kennebunkport, making that quaint little village the region’s true playground of the “rich and famous.”

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MARKET WATCH • 20

Luxury

Offered for Sale

210 South Road, Rye Beach

2019 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$1,539,630 Number of Homes Sold

72 Days on Market

112 21 • MARKET WATCH

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

2018 YTD

2019 YTD

Change

67 126 $1,534,018 $1,385,000 $4,950,000

72 112 $1,539,630 $1,342,500 $5,000,000

7% -11% 0% -3% 1%

Significant Sale: Rye $1,800,000 | April 2019 Listed & Sold by Tate & Foss Sotheby’s International Realty

For Sale: North Hampton Offered at $1,895,000 Listed by Tate & Foss Sotheby’s International Realty

Significant Sale: Portsmouth $1,250,000 | June 2019 Sold by Tate & Foss Sotheby’s International Realty

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Number of Luxury properties sold by TFSIR in 2019 YTD Average sales price

$1,461,863

40%

of all Luxury sales were in the Greater Portsmouth Area

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MARKET WATCH • 22

Waterfront

10 State Street Unit B, Portsmouth

Offered for Sale

2019 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$754,020 Number of Homes Sold

130 Days on Market

103 23 • MARKET WATCH

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

2018 YTD

2019 YTD

Change

121 89 $735,245 $561,800 $4,950,000

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

7% 15% 3% -2% 1%

Significant Sale: Kittery Point $837,500 | April 2019 Listed by Tate & Foss Sotheby’s International Realty

Significant Sale: Rye $1,800,000 I April 2019 Listed & Sold by Tate & Foss Sotheby’s International Realty

Under Contract: New Castle Offered at $3,400,000 Listed by Tate & Foss Sotheby’s International Realty

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Number of Waterfront properties sold by TFSIR in 2019 YTD Average sales price

$903,214

25% of all Waterfront sales were above $900,000

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MARKET WATCH • 24

Historic & Antique

Significant Sale: Rye Beach | $3,600,000 | July 2019 | Listed & Sold by Tate & Foss Sotheby’s International Realty

2019 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$468,522 Number of Homes Sold

249 Days on Market

64 25 • MARKET WATCH

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

2018 YTD

2019 YTD

Change

224 67 $386,658 $312,500 $1,575,000

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

11% -5% 21% 10% 217%

Significant Sale: Rye $760,000 | June 2019 Listed by Tate & Foss Sotheby’s International Realty

Significant Sale: Portsmouth $899,000 | January 2019 Listed by Tate & Foss Sotheby’s International Realty

For Sale: Portsmouth Offered at $2,970,000 Listed by Tate & Foss Sotheby’s International Realty

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Number of Historic & Antique properties sold by TFSIR in 2019 YTD Average sales price

$854,509

11%

of all Historic & Antique sales were above $850,000

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MARKET WATCH • 26

Farm & Equestrian

Gentleman’s Farm, Madbury NH

2019 At a Glance

Number of Sales

Days on Market

Average Price

Median Price

Highest Price

Average Sales Price

$520,181 Number of Homes Sold

69 Days on Market

92 27 • MARKET WATCH

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

2018 YTD

2019 YTD

Change

67 90 $487,409 $385,000 $1,525,000

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

3% 2% 7% 6% 2%

For Sale: Hampton Falls Offered at $998,000 Listed by Tate & Foss Sotheby’s International Realty

Significant Sale: Brentwood $1,050,000 | June 2019 Listed by Tate & Foss Sotheby’s International Realty

For Sale: Exeter Offered at $899,000 Listed by Tate & Foss Sotheby’s International Realty

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Number of Farm & Equestrian properties sold by TFSIR in 2019 YTD Average sales price

$1,075,000

19% of all Farm & Equestrian sales were above $750,000

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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

Inge E. Milde Sales Associate c 603.301.5115

Brett Mulvey Sales Associate c 603.396.6098

Carol Parker Sales Associate c 978.407.0670

Jenifer Parker Sales Associate c 603.498.0555

29 • MARKET WATCH

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Our Team

Sharon Parker Sales Associate c 603.828.1705

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

Andrea Swanson Sales Associate c 603.498.8978

Ned Tate Associate Broker c 603.531.1040

Jaynee Whitney Sales Associate c 603.380.5140

Kasey Gossom Marketing Assistant c 603.964.8028

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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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