FOR IMMEDIATE RELEASE: December 1, 2008

FOR MORE INFORMATION: John Rice, President, Seacoast Board of REALTORS
                                            964-8028 Ext 314

SEACOAST RESIDENTIAL SALES SHOW MONTHLY GAIN

PORTSMOUTH, NH: November sales of single-family homes improved 25.9% from October as bargain hunters closed on 22 properties under $400,000 in value.  There was little change in the other price categories. It was the lone bright spot in a month that reflected the national financial crisis.

Pending residential sales fell 16.6% and closed sales were off 29% from 2007 levels.

On the condominium side, pending sales were up 11.7% from last month, but the other numbers are also poor.  There were only 12 closed sales in the month, some 58.6% behind October, well below the 32 sales recorded in November 2007. It was the worst month for condos since February 2007.

"Condos are having a hard time competing with single-family homes at lower prices," said Seacoast Board of REALTORS' President John Rice. "Condo values are also more directly sensitive to short sales and foreclosures within a given complex."

"Buyers may still want to take a second look at both residential and condo offerings," Rice added, "Interest rates are very attractive and there are good buys to be had."