Despite the mortgage rates, demand continues to exceed supply. The encouraging news is that new listings are up 14.4% statewide thru April. NH sales thru April 2024 increased 5% compared to the same time in 2023 however the median sales price is up 11% at $485,000. Houses are basically selling at 100% of their asking price with an average of 33 days on the market.

A more local snapshot, which includes 10 towns in our area, shows that sales increased 7% thru April with a median sales price of $479,000 ( down 2% from 2023). Homes are on the market an average of 42 days and are selling at asking price.

So what's next for home prices? According to the Home Price Expectation Survey (a survey of over 100 economists, real estate experts, & market strategists), experts are projecting home prices will continue to rise for at least the next 5 years. The percentage of appreciation is expected to be at a much more normal rate, from 3.3% to 4.1%. 

Whether buying or selling, contact me if you'd like to make an informed decision on your next move.

Donna Forest M: 603-731-5151 donna@donnaforest.com Follow her on Facebook