Inventory locally and statewide is finally showing signs of improvement. For the majority of this year, there have been less than 950 single family homes* available for sale. At the writing of this post, there were over 1,366 single family homes for sale in New Hampshire with a median list price of $630,000.
In the 16 towns of the Sunapee Region, there are only 65 homes for sale with a median price of $639,000. From January 1 through May 31 there were 123 single family homes sold, 61 fewer than the same time period in 2022. The median price has increased by almost $60,000 to $419,500.
Looking ahead, these trends signify a positive shift in the market. While the increase in inventory indicates a more balanced supply, it falls short of meeting the existing demand. As a result, sellers will continue to hold the advantage, and prospective buyers should brace themselves for a competitive environment when submitting offers.
New Hampshire continues to see an increase in luxury home sales over $5,000,000. In the first 6 months of 2022 there were 6 homes that sold for over $5,000,000 with a median price of $6,600,000. This year 11 sales over $5,000,000 have been recorded with one of the properties selling for $14,000,000! Demand remains strong across all price points, so if you or someone you know is interested in buying or selling, please have them reach out to our team today!
*Single Family homes is an MLS classification that does not include condos or mobile homes.
**Data is from NEREN MLS and is subject to human error. Sometimes information outside of our control is upload to the system late which means our numbers could be off by one or two sales