new hampshire real estate - craigslist (2024)

FAQs

Is the New Hampshire real estate market slowing down? ›

Home values in New Hampshire rose by 66.3% in the last 5 years. Home sales increased by 0.9% in January 2024 YoY despite the mortgage rate climbing to 7.28%! So, New Hampshire's housing market is strong, if not bullish. Even if mortgage rates continue to increase alarmingly, home sales will not falter.

The state's strong economy, low unemployment rate, and high demand for housing contribute to the overall stability of the market. New Hampshire boasts a thriving rental market, making it an attractive destination for real estate investors looking to generate passive income.

Seller Market Trends

Sellers are experiencing a favorable market in New Hampshire, chiefly due to a lower-than-average inventory of homes for sale.

A thriving economy cannot exist without housing for its workers,” said McIntire. The latest NHAR trends report for April shows that the new $525,000 median price for a single-family home is 13.7% higher than it was in April 2023.

The association said depleted inventory is the main reason why house prices in the state are so elevated. Single-family homes available for sale dropped by 2 percent from a year ago to about 1,230 homes, a 1.3 month of supply. A healthy market needs between 5 to 7 months of supply, according to NHAR.

There are currently 5,116 homes for sale in New Hampshire. The median list price in New Hampshire is $565,000 and the average price per square foot is $273.

High Cost of Living: Despite its lack of sales and income tax, New Hampshire has a relatively high cost of living compared to other states in the region. Housing prices, healthcare expenses, and utility costs can be expensive, particularly in more affluent areas.

When combining all local, county, and state property taxes, these towns have the lowest property tax rates in New Hampshire (as of January 1, 2023): Windsor ($3.39) New Castle ($4.48) Moultonborough ($4.78)

U.S. Census Bureau reports that the average salary for New Hampshire residents is $83,449. However, to stick to the rule of spending only 30% on your monthly income on rent, you only need an income of a bit over $50,000 to live comfortably in a one-bedroom apartment in Manchester, New Hampshire that costs $1,270.

New-Hampshire Housing Market Overview

On average, the number of homes sold was up 9.8% year over year and there were 1,509 homes sold in May this year, up 1,374 homes sold in May last year. The median days on the market was 28 days, up 7 year over year.…

Do sellers pay closing costs in NH? ›

Yes — there is some amount of closing costs for sellers in every state. In addition to paying the real estate agents involved in the transaction (typically around 6 percent of the sale price), sellers in New Hampshire must pay a real estate transfer tax of $0.75 per $100 of value. (The buyer also pays the same amount.)

While there is agreement that New Hampshire has a housing crisis — a severe lack of a diverse rental and for-sale housing inventory, how to address the shortfall will require a multi-pronged focus.

New Hampshire is known as a low-tax state. But while the state has no personal income tax and no sales tax, it has the fourth-highest property tax rates of any U.S. state, with an average effective rate of 1.77%. Consequently, the median annual property tax payment here is $6,097. Not in New Hampshire?

The average cost of living in New Hampshire

According to 2021 data from the Bureau of Economic Analysis, the average total personal consumption cost in New Hampshire comes to $56,727 per year.

Average Housing Costs in Vermont: $794 to $1,621 per month

The average home in Vermont cost $339,100 in February 2023, which is lower than the $359,000 median sales price of an existing home in the United States, according to the National Association of Realtors®.

$403,919. The average Maine home value is $403,919, up 7.5% over the past year and goes to pending in around 9 days.