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A Comprehensive Look at Sunapee Region Home Sales, 2023

2023 was a tumultuous year for real estate with media headlines pointing to high interest rates and dwindling housing inventory. Home buyers and sellers shared their unease about the market, and many decided to hold off, watch and wait. In this post, we are going to look at real estate numbers for the State of New Hampshire and the Sunapee Region, as any important real estate decision should begin with accurate data.
 

Sunapee Region
As the news reported, both home inventory and the total number of home sales significantly decreased. In the Sunapee Region* there were 438 recorded single family home sales in 2023, down from 586 in 2022. This marks the lowest number of home sales in our region since 2011, when there were 393 sales.
 
We saw the reverse trend for the median sales price which came in at $437,000 in 2023 which is more than double from $209,900 in 2011. Notably, this is the fifth consecutive year that the median sales price stayed above $300,000 for our area and the first time it surpassed $400,000.

In the Sunapee Region, 35% of the homes purchased were cash sales. Out of the 65% that were financed, only 8.6% were funded via government-backed home loans (FHA, VA, USDA).  For comparison, 29.1% of homes sold were cash purchases in 2019.

While the median price in the Sunapee Region is at an all time high, 65% of the sales in 2023 were under $500,000.

Number of Homes Sold 2011 - 2023, Sunapee Region, New Hampshire

 

Median Home Sale Price - Sunapee Region, New Hampshire
 


New Hampshire
The Sunapee Region mirrored Real Estate trends in the State. New Hampshire also saw the lowest number of single family home sales since 2011. Statewide there were 11,625 sales in 2023 and in 2011 there were 10,709. In stark contrast, the median days on market shifted from 75 DOM in 2011 to 8 DOM in 2023. For the same time frame, the median sales price has more than doubled from $201,900 to $470,000.

New Hampshire is still seeing an influx of luxury sales over $5,000,000 with 24 sales in 2023 and a median price of $7,000,000. 2022 was the first year New Hampshire recorded more than 20 sales over $5,000,000.

26.5% of New Hampshire homes purchased were cash sales. Out of the 73.5% that were financed, 12.6% were funded via government-backed home loans (FHA, VA, USDA). For comparison, 18.8% of homes sold were cash purchases in 2019.

While the median price in the New Hampshire is at an all time high, 56.7% of the sales in 2023 were under $500,000.

 


 

Additional Resources
We organized single family home sales data from 2005 through 2023 by County.

To see historical home sales for Andover, Bradford, Danbury, Newbury, New London, Salisbury, Sutton, Warner and Wilmot which are all located in Merrimack County, click here

To see historical home sales for Croydon, Goshen, Grantham, Newport, Lempster, Springfield, Sunapee, Unity and Washington, which are all located of in Sullivan County, click here

To learn more about waterfront home sales on Lake Sunapee, click here

 

If you have any questions about buying or selling real estate in New Hampshire, please reach out at dan@ohgrp.com or 603-252-6428.

 

 

*Sunapee Region: In this article, includes the following 16 towns: Andover, Bradford, Croydon, Danbury, Goshen, Grantham, Newbury, New London, Newport, Springfield, Sunapee, Sutton, Unity, Warner, Washington, and Wilmot.

** Data is from NEREN MLS and is subject to human error. Sometimes information outside of our control is uploaded to the system late which means our numbers could be off by one or two sales.

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