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August 2024 New Hampshire Housing Report

NEW HAMPSHIRE

Home Sales Up, Average Price Up

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Home sales are up 3.2% year over year, with August 2024 at 1,841 compared to 1,784 last August. Sales are up for Single and Multi-Family homes but decreased for Condos.

  • Single families:  1,300 (2023) | 1,341 (2024) 
  • Condominiums: 424 (2023) | 408 (2024) 
  • Multi-families: 60 (2023) | 92 (2024)

Average sale price increased by 9.5% when compared to last August, now at $596,620. Prices increased across all categories.

  • Single families: $580,632 (2023) | $631,496(2024)
  • Condominiums: $432,540 (2023) | $463,389 (2024)
  • Multi-families: $456,772 (2023) | $679,121 (2024)

Homes Listed For Sale:

The number of homes listed is up by 2.7% when compared to August 2023.

  • 2024: 2,081
  • 2023: 2,027
  • 2022: 2,220

Pending Home Sales:

The number of homes placed under contract is down by 0.2% when compared to August 2023.

  • 2024: 1,860
  • 2023: 1,864
  • 2022: 2,296

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 August last year.
  • New Hampshire did see a decline in condo sales compared to last year, following the national housing market trends. However, the average sale price across all categories was up strong.
  • Buyers, as we enter the fall market, it is expected that buyer competition will decrease, making now the best time to purchase a home. Anthony explains why in this video here!
  • There were minimal fluctuations in mortgage rates in the month of August. According to Mortgage Daily News, rates remained within the 4% to 6.6% range. Then, in early September, we saw them drop to the lowest rate since February 2023 at 6.1%. Due to the Federal Reserve’s recent 0.5% rate cut, we can anticipate a potential further decline as the year progresses.
  • Sellers, with the trends of mortgage rates and new inventory on the decline, now is a great time to list. There will be motivated buyers looking to settle before the holidays.