The good news for buyers is the number of NH homes for sale is up 7.5% thru March compared to 2023. However, it is still a seller’s market as the demand for housing continues to exceed supply. The median selling price is up 7.4% at $510,000 vs. $475,000 in 2023. Homes sold at 99% of their asking price with an average of 41 days on the market, 9 days more than last year.

A more local snapshot from the 8 towns in our area shows that sales jumped 29% thru March, 48 solds vs. 37 solds in 2023. The median sales price increased 12.5% to $494,950 ($440,000 last year). Homes are selling around 100% of the asking price with an average of 44 days on the market.

You may be wondering if the volatile stock market or the potential for recession will lower home prices. Historical data doesn’t support this. Home prices usually follow whatever trajectory they’re already on. According to Cotality, home prices went up in 4 of the last 6 recessions. Also, a drop in the stock market doesn’t mean home prices go down. The stock market is more volatile. Home values tend to hold steady, even when stocks dip. And during 4 of the last 6 major stock declines, home prices actually went up. 

Contact me if you want to know how current market conditions impact your buying or selling goals.

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