Looking to boost your home value?
Try planting a tree
Do you want content like this delivered to your inbox?
Share
Share

August 2023 New Hampshire Market Update

Corina Cisneros

Licensed Real Estate Associate Broker/Owner (9 years experience)SpecialtiesBuyer's agent and Listing agent, Waterfront, Luxury, Single Family, New Con...

Licensed Real Estate Associate Broker/Owner (9 years experience)SpecialtiesBuyer's agent and Listing agent, Waterfront, Luxury, Single Family, New Con...

Sep 8 3 minutes read

High Interest Rates Continue to Dampen Sales Volume

Mortgage Rates and Home Sales Dipping: This August, the housing landscape continued to be influenced by higher mortgage rates, soaring past the 6.5% mark since May. According to Freddie Mac, this is the highest in two decades. Such rates have led to a nationwide decline of 2.2% in existing-home sales month-over-month, with a notable 16.6% decrease compared to last year, as reported by the National Association of REALTORS® (NAR) 📉.

New Listings and Inventory Show Varied Trends: In August, new listings for single-family homes were down by 8.8%, while townhouse-condo listings saw a modest bump of 1.5% 🏘️. Overall, inventory is still tight—decreasing 17.6% for single-family homes and 7.6% for townhouse-condo properties.

Rising Sales Prices Despite Sales Drop: Don't let the falling home sales fool you; prices continue to climb. Single-family homes have seen a median sales price hike of 8.9% to $490,000, while townhouse-condo properties are up 8.5% at $385,000 📈.

Selling Your Home May Take Longer: The Days on Market increased for both property types—5.3% for single-family homes and 18.2% for townhouse-condo properties ⏰. If you're considering selling, you might be in it for the long haul.

Inventory Struggles Continue: In a persistently tight market, the months' supply of inventory has increased by 5.9% for single-family homes and 15.4% for townhouse-condo properties. Heading into August, there were 1.11 million homes available for sale, a 14.6% drop compared to the same period last year 🏡.

National Price Trends: Nationwide, the limited supply continues to push prices up. According to NAR, the national median existing-home price is at $406,700, up 1.9% from last year.

NH Median Sales Price

Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month.

NH Median Sales Price August 2023

NH Days on Market

Average number of days between when a property is listed and when an offer is accepted in a given month.

NH Days on Market August 2023

August Market Update for Belknap County

85

Closed Sales

$468,000

Median Sales Price

$58.5M

Sales Volume

18

Days on Market

83

Pending Sales

August Market Update for Carroll County

75

Closed Sales

$525,000

Median Sales Price

$55.2

Sales Volume

27

Days on Market

93

Pending Sales

August Market Update for Hillsborough County

340

Closed Sales

$510,000

Median Sales Price

$191.7M

Sales Volume

14

Days on Market

300

Pending Sales

August Market Update for Merrimack County

139

Closed Sales

$460,000

Median Sales Price

$71.9M

Sales Volume

13

Days on Market

157

Pending Sales

August Market Update for Rockingham County

244

Closed Sales

$628,000

Median Sales Price

$173.1M

Sales Volume

25

Days on Market

278

Pending Sales

August Market Update for Strafford County

103

Closed Sales

$470,000

Median Sales Price

$54.5M

Sales Volume

17

Days on Market

102

Pending Sales

Have any questions about the state of the market? Don't hesitate to reach out at 603-273-6160

Want to know everything there is to know about buying and selling a house in the New Hampshire Lakes Region Area?  Check out our other Blog Posts!

Curious about how your home's value has changed?

We will gladly prepare a Comparative Market Analysis for you so that you are armed with the most current information.

Get Your Report
We use cookies to enhance your browsing experience and deliver our services. By continuing to visit this site, you agree to our use of cookies. More info