Newington home sells for record $5.25M while still under construction
NEWINGTON — A home under construction at the new Shackford Point Estates has set a record as the highest-priced residence sold in town.
The five-bedroom, seven-bathroom house in the new neighborhood off Nimble Hill Road sold for $5.25 million. It was the top home sale in the Seacoast in April.
The home was one of 17 in the region to sell for at least $1 million last month, a new record for April, according to the Seacoast Board of Realtors. Carey and Giampa Realtors sold the property, which will be located on a new road called Shipwright Way.
The property features 400 feet of water frontage, according to Jim Giampa, co-owner of the real estate company and a broker for the business.
“It will be amazing when it’s done,” he said.
Under $400,000 homes absent from Seacoast market
Seacoast Board of Realtors statistician John Rice noted that by contrast, there were no homes in the Seacoast that sold for less than $400,000 last month, the first time that has happened since the board began tracking local real estate transactions in 2007.
“We continue to see strong demand for Seacoast real estate. But limited inventory, rising prices and interest rates remain a challenge to potential buyers,” said Seacoast Board of Realtors president Lynn Lagasse in a prepared statement.
The Seacoast Board of Realtors compiles data on the sale of single-family houses and condominiums in 13 local communities: Exeter, Greenland, Hampton, Hampton Falls, New Castle, Newfields, Newington, North Hampton, Newmarket, Portsmouth, Rye, Seabrook, and Stratham.
Home sales volume rises in April, but challenges remain
In April, 44 single-family residences changed hands, the highest total for any month so far this year and three more closings than April 2023. The monthly median sale price for single-family homes rose to $831,000, the highest figure since November a 10.8% year-over-year increase.
Sixteen residences closed for between $400,000 and $700,000 and 11 more sold for between $700,000 and $1 million. Fifty sales were pending at the end of the month, Rice reported.
Condo sales lead way in Seacoast
Condominium sales in the Seacoast again bested the single-family home market, with 54 closings last month. The monthly median sales price among all sold Seacoast condos was $534,950, its lowest since October.
Through April, condominium sales are up 21.6% year-over-year and the median sale price of $585,000 is a 6.5% increase from the first four months of 2023.
Local home sales data: Rockingham County real estate report
Eight Seacoast area condominiums were sold for more than $1 million last month, all in Portsmouth. The highest-priced one in the bunch was a two-bedroom, 2,056-square-foot unit 50 Maplewood Ave., selling for $1.766 million.
This article originally appeared on Portsmouth Herald: Newington home sells for record $5.25M: Seacoast NH real estate
