The New Hampshire housing market in 2025 is navigating a complex balance. After years of soaring prices, tight inventory, and rapid turnover, some cooling signs are emerging—even as, in many regions, it remains a seller’s market. Homes are still selling, values are still pushing upward in most places, but buyers now have slightly more breathing room and listings are beginning to linger longer.
How We Gauge Trends: Key Metrics
Median / average sale prices and appreciation rates
New listings, total inventory, and months of supply
Number of closed sales / transaction volume
Days on market / time to pending / speed of sale
Regional / county variation across New Hampshire
Interest rates, affordability pressures, and policy influences
Price Trends: Still Rising, But Under Pressure
Statewide & Broad Patterns
New Hampshire continues to break records in 2025, though in some months the upward momentum shows signs of strain.
In March 2025, the median price for single‑family homes in New Hampshire hit $525,000, the highest for that month ever and the 62nd consecutive month of year-over-year increases.
By April 2025, that escalated to $528,000 (a new high watermark) even while affordability remained under stress.
In May 2025, the median single-family home price equaled $540,000, tying a prior record and marking 64 months of annual price gains.
By June, the state reached a monumental new high: $565,000, the highest median price ever recorded in New Hampshire.
According to data, over the past 12 months New Hampshire had ~21,957 residential properties sold, with a median home value of ~$518,393 to $525,000 in that period.
Analysts note that $500,000 or more has become the new baseline median in the state.
These numbers reflect a continuation of strong upward pressure. But some months—especially when inventory edges higher—show pockets of cooling or flattening. The degree of price growth is becoming more dependent on location, condition, and how attractive a property is relatively to its peers.
Inventory, New Listings & Supply Side
One of the oldest stories in New Hampshire real estate continues: inventory is extremely tight. But 2025 sees subtle signs of loosening in some markets.
Reports show New Hampshire has only 1.2 months of inventory, meaning existing stock would sell out in ~1.2 months if no new homes entered the market.
In March, single‐family new listings fell 11.3%, and condo/townhouse new listings dropped 6.2% year-over-year, reflecting reluctance by current owners to sell.
A February 2025 analysis revealed that while new listings dropped ~13.7%, existing inventory rose ~6.9%, as homes linger longer.
That same review indicates months of supply increased to ~2.6 months nationwide (which includes New Hampshire) and median Days on Market rose to ~54 days
A statewide summary notes average days on market rising from 26 to 27 days, inventory at ~1.9 months, and condo supply similarly tight.
In southern New Hampshire, reports show a ~13.7% increase in homes for sale compared to prior year.
The Seacoast region’s data is illuminating: in Rockingham County, in September 2025, days on the market (DOM) dropped from 23 days in August 2024 to 19 days in August 2025, despite rising prices. This suggests strong demand in coastal zones.
Sales Volume & Market Activity
NHAR notes that home prices have reached new heights partly because supply is dramatically limited, keeping buyers competing over fewer listings.
The mid-year 2025 snapshot states that the median price increase over the first half of 2025 was ~5.9% compared to the same period of 2024.
Some counties are leading price gains (Grafton, Cheshire), while Sullivan County is one of the few showing a decline.
In Hillsborough County, the market is extremely tight: a months-supply inventory of merely 0.8 months, with average DOM ~8 days, and a sold-to-list ratio of ~101.8% in April 2025.
In Rockingham County, median DOM is just 9 days, and many homes are selling at or near list price.
These figures show that in core counties, demand remains fierce. Still, certain markets or property types are starting to show some softening—especially in more rural or less sought-after areas.
Time on Market: How Long Homes Are Staying in 2025
One of the clearest metrics that buyers and sellers notice is days on market (DOM)—how long a home sits before going under contract or being withdrawn.
Statewide / Aggregate Observations
A February 2025 report states median days on market rose ~8% to 54 days for New Hampshire homes.
Realtors note average days on market rose from 26 to 27 days, and for some condos up to 31.
In the Q1 2025 update by NHRE Partners, condo days on market climbed from 28 to 38 days (+35.7%) compared to the previous year.
So overall, homes in New Hampshire in 2025 are taking longer to sell than recent years—a sign that buyers are more selective, that inventory is slightly thicker, or that sellers are overreaching in pricing.
Regional & Local Variation
In Hillsborough County, as noted, average DOM is extremely low: ~8 days in April 2025.
Rockingham County likewise shows very short DOM (~9 days).
On the Seacoast, despite rising prices, many homes are selling quickly—e.g. DOM dropped from 23 days to 19 days (year-over-year).
In more rural areas or counties with less demand, DOM will be higher—some homes are sitting for multiple weeks or months.
What Regions Are Heating Up or Cooling Down
Seacoast / Rockingham / Strafford / Coastal Areas
These areas continue to draw premium demand because of their proximity to the coast, New England access, and quality-of-life appeal.
Rockingham County’s strong price growth and shortened DOM reflect this trend.
Portsmouth, Rye, Hampton, and other Seacoast towns show elevated medians and active demand.
Southern & Metro Regions (e.g. Hillsborough, Manchester / Nashua Corridor)
These zones remain extremely competitive, with tight inventory and quick turnover in many cases.
Hillsborough’s snapshot—0.8 months’ supply and ~8 days DOM—speaks to how tight things remain in core southern counties.
NH Business Review’s mid-year report cites strong gains in southern counties as well as in Grafton and Cheshire.
Northern / Rural / Mountain / Inland Counties
These areas are more exposed to moderation. With fewer buyers, more distance from job centers, or less infrastructure, homes in these locales may take longer to sell and face greater price pressure.
Sullivan County is singled out in the mid-year report as one of the only counties with median price decline.
Counties like Carroll, Coos, and remote zones may trend slower or show more variance. (While not always in my sources, that pattern is typical in most states’ housing markets.)
What’s Driving These Trends & Risks Ahead
Low Inventory & Reluctant Sellers
Many owners are locked into older, low-interest mortgages. The fear of trading into a higher rate discourages listing. This “rate lock” effect constrains supply. The low months of supply (1.2 months) underscore this.
Pricing Pressure & Overreach
Some sellers are listing ambitiously, expecting buyers to stretch. But buyers are pushing back. The increase in days on market suggests that overpricing is being penalized.
Affordability Strain & Interest Rates
Even though prices are up, buyers are squeezed by mortgage rates and income constraints. The NHAR Affordability Index dropping into the 50s is a warning sign.
Demand Remains Strong in Key Locations
Despite pressures, demand in desirable towns, coastal zones, and well‑served metro-suburban markets remains intense. Homes in Rockingham, Hillsborough, and Seacoast areas still fetch quick offers and strong sale prices.
Potential Softening / Cooling Indicators
Declines in pending sales may presage slower closings ahead.
Some counties having median price declines, or new listing volume falling, may signal localized cooling (e.g. Sullivan).
In June 2025, though median prices rose to record levels, number of homes for sale is still ~2,431 single-family units statewide, which is about a 66% decrease from past historical levels in June.
What to Watch & What It Means for Buyers, Sellers & Investors
Based on these trends, here’s how different players should think and act:
For Sellers
Price carefully: Overpricing now is more likely to backfire with longer days on market.
Stage and prepare: Homes in better condition (less work, good presentation) sell faster.
Be strategic with timing: Entering market during season peaks (spring, summer) may help shorten DOM.
Monitor local inventory: If many similar homes list in your area, competition intensifies.
Be willing to negotiate: Terms, closing help, or flexibility may matter more as buyers have more leverage.
For Buyers
You have a bit more breathing room: DOMs are rising, so you may not need to rush as much in non-competitive zones.
Be ready with financing & strong offers: In top markets, speed and certainty still win.
Target the right locations: Communities with growth potential or good access may offer better returns.
Look for residual values: Homes that are priced slightly under market or with deferred maintenance may offer upside opportunity.
For Investors / Flippers / Rental Buyers
Build in buffer for holding costs: Slower turnover eats at margins.
Focus on fundamentals: Location, access, proximity to jobs or amenities matter more than bells & whistles.
Be cautious with speculative projects: In weaker counties or very high-end properties, sale could take longer.
Have fallback options: Ability to rent long-term or convert use helps mitigate risk if market cools.
The 2025 New Hampshire housing market is in a transitional phase. While many markets continue to favor sellers, the extremes of the superheated boom years are softening. Inventory is inching upward, days on market are starting to stretch, and buyers are becoming more selective. In many strong towns and counties, especially in the Seacoast, southern corridor, and desirable suburbs, homes continue to move swiftly—often under two or three weeks—if priced and marketed well. In more rural or peripheral areas, listings may take 4–8+ weeks or more, depending on condition and appeal. Going forward, the balance may slowly shift toward a more neutral market, especially if interest rates remain high, new construction enters more aggressively, or affordability pressures mount. But as of now, New Hampshire remains a challenging but still largely seller-favored market.
