A half-million dollars or more has become the new normal for single family residential homes in New Hampshire. The $525,000 median price in March is the highest ever for the month, marking 62 consecutive months of year-over-year price increases in New Hampshire, and 13 straight months with the median price above $500,000.
"We avoid making specific market predictions," said NHAR President Susan Cole, "but considering that dramatic drop in supply, it’s hard to imagine median prices falling below that $500,000 threshold any time soon. This crisis has been decades in the making, and it will take a sustained focus on long-term solutions to dig us out."
NEW HAMPSHIRE MONTHLY INDICATORS
A lack of inventory remains the primary driver of the sustained escalation in pricing. New Hampshire currently has 1.2 months’ supply of inventory, meaning the amount of time it would take to sell off the current housing stock at the current rate of sales. With 5-7 months’ supply generally considered a balanced market, it's been well over eight years (October 2016) since the last time we saw even the low end of that benchmark.
At that time, the state had over 7,300 single family residential homes on the market. There were 1,245 at the end of March 2025, an 83 percent decrease.
The NHAR Affordability Index remained historically low in March, at 59. It means the median household income is just 58 percent of what is necessary to qualify for the median-priced home under prevailing interest rates.
It's the lowest Index for the month in NHAR's recording history of at least 20 years. It was only as far back as 2021 that the Index was over 100, and it reached more than 200 at times during 2012 and 2013.
Referring to the role the state can play in helping to alleviate the crisis, Cole said, "We need to allow people to build on smaller, less expensive lots, create opportunities for seniors and families by allowing for accessory dwelling units, and end the mandates which create sprawl and the loss of open space.
"We have seen progress. Both the House and Senate have passed meaningful bills which will make housing more affordable and available for New Hampshire residents. We’re hopeful this momentum will continue and begin the slow climb back toward housing affordability."
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.