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September 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...

Oct 9 4 minutes read

Although Sales Volume Continue to Decrease, It Still Remains a Strong Sellers Market

National Home Sales See a Dip 📉: The housing scene is seeing some turbulence as national sales of existing homes have recently dipped to a 7-month low. Surging borrowing costs, escalating sales prices (up by 3.9% YoY), and a thinning inventory (down by 14.1% YoY) have sidelined many potential buyers. Notably, mortgage rates have stayed above the 7% threshold since mid-August, a mark that has made many borrowers wary.

In New Hampshire, Inventory Dynamics Paint a Mixed Picture 🏘️: The good news is that new listings for single-family homes are up by 1.9%. However, townhouse-condo properties didn't fare as well, registering a 10.1% drop. Overall, the inventory scene remains tight, with both single-family and townhouse-condo properties decreasing 8.4% and 9.8% respectively. 

Statewide, Prices Hold Strong Despite Soft Sales  📈: Don't be deceived by the slower home sales; prices continue to escalate. The median sales price for single-family homes is up 11.4% to $490,000. Townhouse-condo properties, on the other hand, have seen an even sharper rise of 17.4% to $405,000. 

Locally, buyer demand remains strong🏡: Across the six counties featured below, homes are consistently selling in a timely manner, often within a two-week frame.

  • Rockingham and Belknap Counties both witnessed properties selling at a higher percentage over the asking price compared to the previous year, pointing to a robust demand and potential bidding scenarios.
  • Hillsborough County too showed a competitive market dynamic, with homes closing at an elevated percentage over the asking price compared to last year. Plus, homes were selling slightly faster this year.
  • Merrimack County, while maintaining strong buyer demand with homes selling quickly, observed a slight decline in the average percentage over the asking price. Yet, homes still consistently sold notably over their listed prices.
  • Strafford and Carroll Counties, on the other hand, experienced a drop in the average percentage over the asking price. Still, homes in these counties are selling close to or marginally above their listed prices, indicative of an active market.

Overall, the real estate landscape in these New Hampshire counties suggests a brisk market with properties moving quickly and, in many cases, at prices exceeding their listing.

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 September 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 September 2023

67

Closed Sales

$470,000

Median Sales Price

$37.8M

Sales Volume

30

Days on Market

79

Pending Sales

80

Closed Sales

$482,000

Median Sales Price

$60.9

Sales Volume

34

Days on Market

100

Pending Sales

September Market Update for Hillsborough County

273

Closed Sales

$510,000

Median Sales Price

$153.9M

Sales Volume

16

Days on Market

291

Pending Sales

September Market Update for Merrimack County

129

Closed Sales

$460,000

Median Sales Price

$66.7M

Sales Volume

17

Days on Market

97

Pending Sales

September Market Update for Rockingham County

231

Closed Sales

$620,000

Median Sales Price

$172.5M

Sales Volume

23

Days on Market

222

Pending Sales

September Market Update for Strafford County

81

Closed Sales

$445,000

Median Sales Price

$37.9M

Sales Volume

18

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!

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