June 2023 New Hampshire Single Family Market Update

USA Experiencing Limited Inventory and Higher Costs: The housing market in the US is cooler than usual due to low inventory and increased borrowing costs, which have risen by 20.4% compared to last year, as reported by the National Association of REALTORS® (NAR) 📉. Fluctuating mortgage rates and low inventory levels have affected home sales during the summer season.

New Listings & Pending Sales Decrease in New Hampshire: New listings for single-family homes have dropped by 26.6%, while townhouse-condo properties have seen a decrease of 3.8%. However, there has been a 6.2% increase in new listings for townhouse-condo properties 🏘️. Pending sales have decreased by 10.2% for single-family homes and 3.9% for townhouse-condo properties. This suggests a slowdown in the number of homes going under contract.

New Hampshire Sees Median Sales Prices Rise: The median sales price has increased by 7.6% to $495,000 for single-family homes and 14.3% to $400,000 for townhouse-condo properties 📈. This indicates that home prices have gone up in the region.

Longer Time on Market in New Hampshire: Homes are staying on the market for a longer duration, with a 53.8% increase in days on market for single-family homes and a 33.3% increase for townhouse-condo properties⏰. This means it may take more time to sell a property.

Belknap and Carroll Counties Market Updates: In Belknap County, we recorded 86 closed sales, with a median sales price of $494,750 and a sales volume of $83.5. Meanwhile, Carroll County witnessed 90 closed sales, with a median sales price of $465,000 and a sales volume of $60.1 🏡 .