NEW HAMPSHIRE
Home Sales Up, Average Price Up
Home sales are up 3.9% year over year, with September 2024 at 1,642 compared to 1,580 last September. Sales are up for Single and Multi-Family homes but decreased for Condos.
- Single families: 1,124(2023) | 1,191 (2024)
- Condominiums: 372 (2023) | 359 (2024)
- Multi-families: 84 (2023) | 92 (2024)
Average sale price increased by 3.9% when compared to last September, now at $583,151. Prices increased across all categories.
- Single families: $581,394 (2023) | $614,800 (2024)
- Condominiums: $453,973 (2023) | $477,614 (2024)
- Multi-families: $488,225(2023) | $585,253 (2024)
Homes Listed For Sale:
The number of homes listed is up by 7.0% when compared to September 2023.
- 2024: 2,096
- 2023: 1,958
- 2022: 2,008
Pending Home Sales:
The number of homes placed under contract is up by 13.0% when compared to September 2023.
- 2024: 1,838
- 2023: 1,626
- 2022: 1,856
Data provided by PrimeMLS then compared to the prior year.
What’s Happening in the Market?
- Despite the national housing market trends having a slight decline in home sales, New Hampshire still saw an increase when compared to September last year.
- With the current trend of increased sales, it’s clear that there is still high demand from buyers. Despite more homes being listed, prices continue to climb, indicating that it remains a seller’s market. As winter approaches, we expect buyer competition may start to slow down, leading to a rise in seller competition, which could potentially cause some price adjustments.
- According to Mortgage News Daily, mortgage rates dropped to 6.1% in September and remained within the 6.1% to 6.3% range. However, as October began, rates started to climb again, reaching a peak of 6.9%. While this marks a recent increase, it’s still an improvement from the same period last year, when rates stood at 7.9%.
- Sellers, It is important to remember that homes do sell during the holidays, often to highly motivated buyers. Listing your home now can provide a competitive edge with less inventory and greater visibility for your property.
- Buyers, we’re in the fall market, and competition among buyers is expected to decrease, making now an excellent time to purchase a home. Watch Anthony’s video here for more insights!