New Hampshire’s real estate market remains robust, characterized by rising home values, tight inventory, and sustained buyer demand. However, affordability challenges persist, particularly for first-time and middle-income buyers. Here’s a comprehensive overview:
🏠 Statewide Market Overview
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Average Home Value: The average home value in New Hampshire is approximately $494,992, reflecting a 4.3% increase over the past year.
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Median Sale Price: As of March 2025, the median sale price was $467,178, while the median list price stood at $511,667.
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Inventory Levels: In April 2025, there were 4,618 homes for sale, marking a 13.7% year-over-year increase. New listings totaled 2,104, up 14.7% from the previous year.
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Days on Market: The median days on market was 37 in April 2025, indicating a relatively swift sales pace.
📊 Market Dynamics
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Homes Sold Above List Price: Approximately 49.6% of homes sold above list price in April 2025, a decrease of 3.4 percentage points year-over-year.
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Price Drops: About 16.4% of homes experienced price drops, up from 12.0% in April 2024.
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Sale-to-List Price Ratio: The sale-to-list price ratio was 100.9%, indicating that homes are selling slightly above their listing prices.
🌆 Regional Highlights
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Manchester: Home prices in Manchester have increased by 4.7%, making it one of the fastest-growing metros in the state.
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Dover: Dover experienced the highest growth, with a 10.7% increase in home prices.
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Portsmouth and Concord: These areas saw declines in home prices, with Portsmouth down 15.6% and Concord down 16.6%.
💰 Affordability Challenges
Affordability remains a significant concern. A recent survey indicated that with a median home price of $470,000, the income required to afford such a home is approximately $161,000, while the median household income in New Hampshire is around $96,523. This disparity highlights the challenges many residents face in achieving homeownership.
🔮 Market Outlook
The New Hampshire housing market is expected to continue its trajectory of modest price growth and increased inventory through the remainder of 2025. While affordability remains a concern, especially with mortgage rates stabilizing around 6.3%, the increase in inventory provides more options for buyers. Regional variations will persist, with areas like Manchester and Dover experiencing steady growth, while affordability challenges may impact demand in certain segments.