More evidence of the housing crisis in New Hampshire has arrived with the most recent market data, showing that the median price for single family residential homes hit an all-time high in June, at $566,250.
NEW HAMPSHIRE MONTHLY INDICATORS
While the number could fluctuate slightly in either direction with additional sales data, it represents a 4.9 percent increase from the previous high of $540,000 – a price record set in June 2024 and equaled in May.
It also marks the 65th consecutive month that the state has seen a monthly price increase compared to the same month of the prior year.
“The idea of owning a home is becoming more challenging for too many New Hampshire residents, especially young families and first-time home buyers,” NHAR President Susan Cole said. “Demand for housing in our state is still very high, and these numbers suggest that trend is not going away soon.”
Combined with that high demand, low inventory continues to be the primary driver of the ongoing price escalation. While the number of homes for sale has increased incrementally for the past several years, it remains well below a healthy level.
There were 2,431 single family residential units on the market at the end of June. The last time New Hampshire saw a balanced housing market – October 2016 – 7,112 homes were for sale. That’s a 66 percent decline in that time.
“Yes, there are more houses on the market than there were a few years ago, but it’s very important to keep that in context,” Cole said. “You don’t get the full picture unless you look back 10 or 15 years and compare this to a healthy market.”
Cole said it’s also important to remember that while national headlines are describing a more robust inventory recovery, New Hampshire has not caught up to that trend. Nationally, May saw 4.6 months’ supply – meaning the amount of time it would take to sell the current housing stock – whereas New Hampshire had less than half that – at 2.1 months’ supply.
A balanced market is generally thought to be 5-7 months’ supply.
Cole also noted that the state legislature passed critical legislation designed to increase inventory and alleviate the affordability crisis.
“We applaud the legislature and Governor for taking critical bipartisan action to expand housing opportunities,” Cole said. “By giving property owners greater ability to utilize their own land, and speeding up the permitting process, there will be more opportunity to provide housing for families, workers and businesses.
“But it’s important to remember that this is just a start if we want to bring down the cost of purchasing a home or renting an apartment. There is still so much more our elected officials on the local and state level can do.”
For NHAR's full slate of market data, including our Monthly Indicators report and detailed county- and town-level reports, visit our FastStats landing page. To create your own customizable and brandable market reports, visit NHAR's members-only InfoSparks page.
Questions? Please email Vice President of Communications and Member Engagement Dave Cummings (dave@nhar.com), or call 603-554-7855.