A New Hampshire Market Update

Today, we’re giving you an update on the New Hampshire real estate market. I want you to ignore everything you’re hearing about the national real estate market and pay attention to our area specifically.

The September numbers just got released by the New Hampshire Association of Realtors and what we're seeing is that the median sales price is up 13.1% across the state to $445,000. Three years ago, it was $295,000, so this is a wild increase. However, in a three-year span, we saw a deceleration in appreciation. It was about 25% year-over-year, now it's slower, but we're still seeing appreciation. This means that it's still a seller's market.

“If you price correctly in this market, you will still get multiple offers.”

If you bought a home in January, its value has increased. Also, if you price correctly in this market, you will still get multiple clean offers and there will be a high demand for your property. That being said, if you price incorrectly, it will sit on the market because we’re not in the same type of feeding frenzy we saw earlier in the year.

The market is beginning to balance out and negotiating is possible again. Meanwhile, days on market are a concern if you don't have the right price. Another thing we're seeing that's interesting to note ishomes for sale are down 4.7% since last year. This is tightening the squeeze on our inventory, which is one of the reasons why we still have such high demand. There aren’t as many houses on the market as there were last year or the year before.

If you want to dig in deeper, click here to see all the market stats for the last month. If you want to set up a time to chat more about your real estate goals for the next year, call or email me, I’d love to hear from you.