New Hampshire Real Estate Market Trends
The New Hampshire real estate market in 2023 exhibits a mix of stability and growth, marked by a moderate rise in home values, a decrease in the number of homes for sale, and an increase in median sale prices. This dynamic reflects the state's growing appeal to both homebuyers and real estate investors, bolstered by its low unemployment rate and thriving economy.
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Moderate Increase in Home Values: Home values in New Hampshire are expected to continue their upward trajectory, albeit at a moderate pace. This trend indicates a stable market that remains attractive to buyers looking for long-term value in their investments .
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Decrease in Available Homes: As of October 2023, the number of homes for sale in New Hampshire was 4,232, showing a significant decrease of 21.0% compared to the previous year. This reduction in inventory suggests a competitive market, where demand for homes outpaces the supply .
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Rising Median Sale Prices: The median sale price in New Hampshire increased by 4.4% year-on-year as of May 2023. This increase is indicative of a healthy market with strong demand. Despite the rising prices, the stabilization of mortgage rates, currently at around 6.79%, is encouraging new buyers to enter the market .
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Appreciation Above National Average: Over the past few years, New Hampshire's housing market has seen a remarkable appreciation in home prices. Comparing median prices from October 2019 to October 2022, the state experienced an increase of 48.9%, significantly higher than the 35.8% national average. This substantial appreciation rate highlights the state's strong market performance relative to the rest of the country .
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Sales Volume and Median Home Prices: In the past 12 months, there have been 21,685 residential property sales in New Hampshire. The median home price for single-family homes as of September 2023 stood at $450,000, with the median value over the last year being $469,672. These figures demonstrate a robust sales volume and a consistent upward trend in property values .
In summary, the New Hampshire real estate market in 2023 is characterized by rising home values, a decrease in available homes, an increase in median sale prices, and a significant appreciation rate that surpasses national averages. These trends reflect a strong and desirable market for both buyers and investors, underscored by a steady economic backdrop.
New Hampshire Association of Realtors Market Data