CONCORD, NH – The signs that New Hampshire’s housing marking is inching toward improvement continued in September, with increased year-over-year sales and inventory, though median sales price continued to tank affordability for buyers.
Median sales price for a single-family home in September was $535,000, according to the September monthly market report from the New Hampshire Association of Realtors. That up from $520,000 a year ago, but lower than August’s $550,000 and the lowest it’s been since May. Median means that half of the properties sold for more and half for less.
Median sales price in Hillsborough County for a single family home in September was $570,000, with 308 sales, up from $513,000 with 284 sales in September 2024. Hillsborough County is the state’s most populous, and includes the cities of Manchester and Nashua.
The affordability index was 58, down from 61 a year ago. That means that the state’s median income is only 58% of what it would take to afford a monthly home payment at the current median sales price, including interest, insurance and property tax. It was 55 in August.
Key sales indicators all showed improvement: closed sales were up 11.7% from September 2024, pending sales were up 13.9%, new listings were up 9.2% and overall houses for sale were up 22.1%.
Inventory, while still well below the 6-8 months ideal for a healthy market, stayed steady at 2.5, which means it would take 2.5 months to sell all the homes on the market at the current pace if no new ones were added. It’s been at 2.5 or above since June, the first time it’s maintained that amount since late 2019. In September 2024, it was 2.2.
Buyers got a little bit of break in September as opposed to a year ago, with houses staying on the market for an average 27 days, five more than in September 2024. Buyers paid an average 99.7% of list price, versus 100.5% paid a year ago.
The much smaller, and therefore more up-and-down condo/townhouse market also showed small signs of improvement over last year, with all key sales indicators increasing, and median sales price even dropping slightly.
The median sales price for a condo/townhouse property in September was $407,250, down from $410,000 in September 2024, and an even bigger drop from $419,000 in August.
MSP for a condo/townhouse in Hillsborough County was $377,000 on 123 properties, compared to $375,000 on 107 properties a year ago.
The affordability index was 77, compared to 78 a year ago.
Closed sales increased 9.9% over 12 months ago, pending sales 7.5%, new listings 19.4% and overall properties for sale 18.1%.
Inventory was 2.3, compared to 2.1 in September 2024.
Condo/townhouse buyers also got a break, with days on the market an average 32, compared to 27 a year ago. They paid an average 99.5% of list price, compared to 100.5% a year ago.
The county with the highest median sales price in the state for a single family home in September was Rockingham, on the Seacoast, at $665,000 on 277 properties sold, up from $635,000 on 232 sales a year ago. The lowest MSP in the state was Coos County, at the northern tip of the state, at $225,000 on 53 properties, a drop from $230,000 on 31 properties a year ago.
The national median sales price on a single-family home was $422,600, with inventory at 4.6, 11,7% higher than it was a year ago.