CONCORD, NH – New Hampshire’s housing market showed signs of improvement overall in 2025, with several key indicators increasing for the time in several years.
Manchester, along with Hillsborough County, also had positive indicators. The city continued to have a median sales price well below the state median, despite the county’s being higher.
The most recent monthly market report from the New Hampshire Association of Realtors shows a statewide increase in single-family home closed sales, pending sales and overall listings in 2025 over 2024, the second year in a row that home sales increased over the previous year after three years of decreases. Affordability even ticked up slightly.
Statewide, while median sales price for a single-family home was up, it was the lowest increase since 2016. The $535,000 MSP was 3.9% higher than 2024’s $515,000, the smallest increase since 2016’s 3.4%. In 2024, the increase was 9.9%, up from $470,000 in 2023. Median means that half of the homes sold for more, half for less.
Manchester’s median sales price in 2025 was $462,000, up from $440,000 in 2024. Hillsborough County’s 2025 median price was $555,000, up from $530,000 in 2024.
Closed single-family home sales for 2025 were up 4.7% from 2024, with 12,542 sales compared to 11,981. The percentage of the increase was higher than 2024’s, when it was 3.6%. In the three years prior, closings had decreased – 5.4% in 2021, 17.95% in 2022, and 19.2% in 2023.
New listings, a key to determining inventory, were up 9.9%, at 15,823, compared to 14,393 in 2024, and the highest they’ve been since 2022’s 16,305. Pending sales were up 6.3%, with 12,704 compared to 11,952 in 2024.
The affordability index for the year was 59, which means that the area median income is 59% of what’s needed to for a monthly payment for a median-priced home, including mortgage, property tax and insurance. The area median income for the state in 2025 was $119,000, as determined by the U.S. Department of Housing and Urban Development. While affordability for the state’s house-buyers remains historically low, 2025’s 59 was one point higher than 2024’s all-time-low of 58.
Buyers also got a slightly better break when it came time to close, paying an average 99.9% of what the home had been listed at. In 2024, buyers paid an average 100.8%. Properties also stayed on the market a little longer, an average 30 days, compared to 25 in 2024.
December’s single-family home numbers had a strong finish, with higher closed sales [15.5%], pending sales [16.9%], and new listings [15.3%], than December 2024.
The median sales price for December was $520,000, compared to $509,500 a year before. Inventory was a 1.5 months’ supply, which means that if all the properties on the market sold at the same pace, and no new ones were added, it would take a month and a half to sell them all. The year before, it was 1.3. A 6-month supply is considered ideal for a healthy market.
Hillsborough County & Manchester
Hillsborough County’s key indicators followed the state’s positive trend, with an increase in closed sales for the first time in seven years. The 3,106 single-family homes sold in the county, which includes Manchester and Nashua, was 6.8% more than the 2,908 sold in 2024. The last time there was an increase in the number of single-family home closings in Hillsborough County was in 2018, when 4,596 homes were sold, an 0.8% increase over 2017.
Pending single-family home sales, at 3,174, were up 10.3% for the county in 2025 from 2,877 the year before. Pending sales indicates the number of properties where an offer is made, the property taken off the market, but has not closed. The number of pending sales over a year includes properties that eventually closed and those that haven’t closed yet, but does not include those in which an offer was made, but later withdrawn.
The county’s 2025 median of $555,000 was 4.7% higher than 2024’s $530,000. December’s median sales price was $550,000 on 283 homes sold, compared to $524,000 on 233 homes sold in December 2024.
Manchester buyers paid a median $462,000 in 2025 on 651 closed single-family home sales, compared to $440,000 on 596 closed sales in 2024. Pending sales were up 12.5% [666 in 2025, compared to 592], and new listings were up 11% [726 compared to 694].
Homes spent an average 14 days on the market in Manchester in 2025, compared to 13 the year before, with buyers paying 101.8% of list price in 2025, compared to 103.8% in 2024.
December’s median sales price in Manchester was $445,500 on 69 properties sold, compared to $435,000 on 47 properties sold in 2024. Buyers had to act fast, with only a 0.5’ months’ inventory available, though properties were on the market an average 25 days before they were sold, and buyers paid 97.8% of list price. That’s a little better than December 2024, when inventory was 0.7, but homes only stayed on the market an average 16 days and buyers paid 100.6% of list price.
2025 condo/townhouse market
Key indicators in the much smaller statewide condominium/townhouse market were also positive in 2025, including a 3-point increase in affordability.
The median sales price for a condo/townhouse property was $421,000 in 2025 on 4,316 sales, compared to $415,000 on 4,044 sales the year before.
Despite the fact the properties’ median price was higher, the affordability index rose to 75 from 72 because the price increase was less than the increase to the area median income for the state.
Closed sales for the year were up 6.7%, pending sales 8.8%, and new listings 13.8%.
Property spent an average 32 days on the market before it was sold, compared to 29 days in 2024, and buyers paid 100.1% of list price, compared to 100.
December’s MSP for a condo/townhouse property was $433,500 on 356 properties, down from $440,500 on 304 properties in 2024.
In Hillsborough County, the median sales price for a condo/townhouse in 2025 was $385,000 on 1,276 properties, up from $377,750 on 1,166 properties in 2024. December’s MSP in the county was $380,000 on 102 properties, up from $369,999 on 59 in 2024.
Highest, lowest-priced towns, counties
All of the state’s 10 counties except Sullivan had more home sales in 2025 than in 2024. The biggest increase was in Carroll County, where 940 single-family homes were sold, compared to 841 the previous year, an 11.8% increase.
Eight of the state’s 10 counties also had median sales prices below the state median, though the two counties with medians that were higher – Hillsborough and Rockingham – represented nearly 50% of homes sold in the state last year.
The county with the highest median sales price in 2025 was Rockingham, on the Seacoast, where it was $640,000 on 229 properties, a 1.6% increase over 2024’s $629,950 on 214 properties. Hillsborough’s $555,000 was second.
Merrimack County had the biggest median sales price increase on single-family homes in the state, 6.3%, $505,000 on 1,454 properties in 2025, compared to $475,000 on 1,357 properties in 2024.
In Sullivan County, in western New Hampshire, 485 single-family homes were sold, compared to 491 in 2024, for a 1.2% decrease.
The county with the lowest 2025 MSP in 2025 was Coos, at the state’s northern tip, at $252,000 on 417 properties sold, compared to $257,000 on 380 properties sold in 2024.
Coos and Sullivan counties were also the only two counties where MSP in 2025 was lower than it was in 2024. Coos’ MSP decreased 1.9 %. In Sullivan County, it was down 1.3%, from $390,000 to $385,000 in 2025.
Of the 116 cities and towns with sales activity listed by the NHAR, six had a median price higher than $1 million in 2025, split between the mountains and the sea. Three of the top four are in Grafton County: Waterville Valley, with a $1,715,000 MSP on 5 properties sold. Lincoln, Waterville Valley’s neighbor, was second, at $1,425,000 on 25 properties sold. College town Hanover was fourth at $1,237,500 on 66 properties.
The other three were in Rockingham County, where Rye was third, at $1.4 million on 41 properties; Greenland was fifth, at $1,077,500 on 30 properties, and North Hampton sixth, at $1 million on 45 properties.
Five towns and cities in the NHAR’s list of 116 had MSPs lower than $300,000. Three of the five lowest MSPs in the state were in Coos County, with Berlin topping the list at $180,000 on 102 properties sold. Lancaster was second, at $275,000 on 33 properties sold, and Pittsburg was fourth, at $287,000 on 41 properties. Claremont, in Sullivan County, had an MSP of $277,250 on 114 properties, and Hinsdale, in Cheshire County, in the southwestern corner of the state, had an MSP of $290,000 on 47 properties.
2025 national home sales
The national median sales price for existing single-family homes rose 1.2% in 2025, to $409,200, according to the National Association of Realtors. December was also the 29th straight month the national MSP went up.
“This year-over-year increase…reflects ongoing tightness in housing supply,” the NAR said.
At the end of November, there was a 4.2-month supply of single family homes, with the number for sale up 7.5% from that time in 2024.