Million-dollar-plus market thrives in 2023
Seacoast’s 10 highest-priced home sales over the last year
High-priced single-family homes and condominiums and low housing inventory dominated the Seacoast real estate market in 2023. But what else is new? The recurring real estate themes of recent years didn’t let up, as each month was marked by a year-over-year dip in home sales, limited inventory and rising costs to purchase a home. Buyers who have lots of cash on hand bought high-end homes for big money.
The Seacoast Board of Realtors follows single-family home and condominium unit sales in 13 area communities: Exeter, Greenland, Hampton, Hampton Falls, New Castle, Newfields, Newington, North Hampton, Newmarket, Portsmouth, Rye, Seabrook and Stratham.
“It’s kind of like a broken record. Low inventory, and as a result of the law of supply and demand, median prices (are) inching their way up. We’re getting closer and closer to having a median price of a million dollars,” said John Rice, statistician for the board and associate broker for Tate & Foss Sotheby’s International Realty.
For most would-be home buyers,
who aren’t the wealthiest of the wealthy, finding a home can be nearly impossible, as federal interest rate hikes drove up mortgage interest rates.
“Affordability more and more every month becomes a big issue,” Rice said. “That’s one of the major themes. The other major theme that has just begun to become obvious is a real decline in sales, too. (These are) record levels going back to 2011 and the Great Recession.”
The Seacoast’s million-dollar-plus market thrived in 2023 with multiple seven-figure home sales each month.
While many prospective buyers
“(Buyers) want to live in downtown Portsmouth. They want to live on the water. They want to live the dream. Young people still want to buy a house.”
John Rice, statistician for the board and associate broker for Tate & Foss Sotheby’s International Realty
can’t afford mortgages due to elevated interest rates, Rice noted cash buyers come into the Seacoast and position themselves ahead of the pack. Seeking the natural beauty and amenities of the Seacoast, those buyers frequently purchase houses and condominium units in waterfront municipalities like Hampton, North Hampton, New Castle, Portsmouth and Rye.
Unsurprisingly, the list of highestselling homes in the region for 2023 includes single-family residences and condominiums located in those five communities.
“During the Great Recession, there was no consumer confidence in the real estate market. That’s not true now,” Rice said. “(Buyers) want to live in downtown Portsmouth. They want to live on the water. They want to live the dream. Young people still want to buy a house.”
“If you didn’t have that confidence, you wouldn’t have records being set in the million-dollar sales department,” he added. “When you see the high-end folks buying stuff, that’s one good sign of confidence right there.”
The top 10 highest-selling Seacoast residences for 2023, including singlefamily homes and condominiums, are listed below. We start with No. 10 and count down to No. 1.
10.) 27 Locke Road, New Castle: $4 million
Looking out at Little Harbour, this four-bedroom, five-bathroom residence includes a Tesla charging station in the two-car garage. The two-story home was built in 2022 and has an enclosed porch, along with two fireplaces, gardens, a kitchen renovated two years ago, cherry flooring and heated tiles. “A sense of calm and peace embraces you when you enter this multi-level, carefully planned out home on desirable New Castle Island,” the listing for the property read. “Picturesque views, ocean water and a quaint village atmosphere.”
9.) 35 Dumas Avenue, Hampton: $4.5 million
Built in 2018, the waterfront home changed hands in an off-market deal that was finalized on Halloween. At 5,274 square feet, the house has three bedrooms and three bathrooms. The two-level residence was built with a deck overlooking the ocean and an outdoor patio with views of the ocean.
8.) 167 Little Harbor Road, New Castle: $4.6 million
This condominium is one of several townhouses built near Wentworth by the Sea along the beach. The three-bedroom, five-bathroom, 4,867-squarefoot structure spans three-stories, and the association neighborhood comes with access to a pool and tennis and pickleball courts. Ownership of the unit also features a deeded right-of-way to Little Harbour Beach. “Boat enthusiasts will be mesmerized by the sights and sounds of the harbor with the gentle tingling of masts moving in the ocean breeze and the magnificent display of yachts outside nearly every window,” the property listing read.
7.) 99 Campbells Lane, New Castle: $4,800,099
Originally listed for $4.25 million, this New Castle home sold after spending less than two months on the market. With five bedrooms and six bathrooms, the house has a two-story foyer, floorto-ceiling windows, a fireplace and is located across the street from Wentworth by the Sea. The house was built in 1999 and has beach access to Sagamore Creek.
6.) 51 Chapel Road, North Hampton: $4.899 million
This five-bedroom, five-bathroom house is secured with a gated private driveway stretching a half mile. An outdoor pool behind the home is steps away from an outdoor fireplace. The property spent only eight days on the market and has a wet bar, sunroom, a wood-burning fireplace and a breakfast room. The house, sold by Carey & Giampa Realtors, is accompanied by two horse paddocks and a four-stall barn.
5.) 117 Bow Street, Portsmouth: $5.79 million
Neighboring the Piscataqua River, this condominium in downtown Portsmouth has a wraparound rooftop deck that was highly-touted ahead of its sale. “Marvel at breathtaking sunsets, watch ships glide by gracefully, and witness the bridge come alive with captivating illumination during the evening,” the unit’s listing says. Sold in mid-November, the condominium has three bedrooms, five bathrooms, a bar and a gas fireplace.
4.) 5 Heather Drive, Rye: $6.3 million
A 28-foot-long bar, along with a game room, lounge and stone fireplace, are a few of the highlights built within this 9,450-square-foot residence. The Rye home has direct ocean views and was built along the Wentworth by the Sea Country Club, abutting the 16th hole on the club’s golf course. On the market for just under two weeks, the property and five-bedroom, six-bathroom house changed hands in March.
3.) 98 Beach Hill Road, New Castle: $6.495 million
Whaleback Lighthouse in nearby Kittery, Maine is visible from this New Castle estate, a six-bedroom, six-bathroom home that sold in late January, only seven days after being listed. The house comes with 140 feet of deeded beach access. Amenities include a media room, a private deck with a hot tub and an outdoor shower. “Every inch of this 4,700plus-square-foot home has been painstakingly renovated to the highest standards. Enjoy stunning views from every room in this oversized cape on over half an acre of professionally landscaped grounds, with private granite steps leading to the sand,” an advertisement for the home stated.
2.) 70 Martine Cottage Road, Portsmouth: $6.6 million
The mid-July sale of the waterfront estate set a city record as the highestpriced home in Portsmouth history, according to the Seacoast Board of Realtors. The Martine Cottage was formerly owned by Arthur Carey, and he later sold it to his friend R. Clipston Sturgis, whose family owned it for generations. With five bedrooms and four bathrooms, the home sits on a property that includes a long dock, a detached twocar garage, a standalone barn, an abandoned boat house and a rental cottage.
1.) 16 Atlantic Avenue, North Hampton: $7 million
Topping the charts in 2023 was this oceanfront North Hampton mansion, constructed to include an in-ground outdoor pool and sauna. The four-bedroom, nine-bathroom house with views of Cape Ann stretches almost 12,000 square feet on a 1.9-acre lot. The home was listed by realtors Maggie Barrett Campbell and Tony Jalbert of Tate & Foss Sotheby’s International Realty.