The New Hampshire housing market remained strong in December 2024, with rising home prices, increased inventory, and longer days on market. Single-family home sales increased by 5.8% compared to last year, while median home prices rose by 9.9%, reaching $507,000 statewide. The condo market also saw a 0.7% increase in sales and a 10.8% jump in median prices to $443,000.
Despite positive momentum, affordability challenges persist. The Housing Affordability Index declined by 10.6%, reflecting higher home prices and interest rates affecting buyers. Inventory for single-family homes grew 7.9%, offering more options but not yet balancing supply and demand.
Now, let’s take a closer look at three key counties: Grafton, Sullivan, and Merrimack.
Grafton County Market Overview
Grafton County saw a slight decline in home sales, dropping 5.9% year-over-year. However, home values continued to climb, with the median sales price increasing 4.4% to $412,500. The dollar volume of closed sales also rose 10.6%, totaling $43.9 million.
One of the most significant shifts was in days on market, which jumped 83.3% to 66 days, indicating slower turnover and potentially more negotiation power for buyers. Meanwhile, pending sales increased 7.3%, showing continued demand in the county despite longer listing times.
Sullivan County Market Overview
Sullivan County had a strong performance in December, with closed sales increasing 8.8%, reflecting sustained buyer interest. The median home price rose by 10.2% to $395,000, and the total sales volume surged by 62.4% to $28.1 million, making it one of the biggest gainers in the state.
Homes stayed on the market for 34 days, up 9.7% from last year, but the overall pace of sales remained steady. Pending sales held firm, and year-over-year trends show that home values in Sullivan County continue to rise, making it an attractive market for sellers.
Merrimack County Market Overview
Merrimack County remained a competitive market, with a modest 1.0% increase in sales. The median home price climbed 5.9% to $476,500, reinforcing steady home appreciation.
Despite slightly fewer closed sales, Merrimack’s total sales volume reached $53 million, showing strong buyer activity. Days on market increased by 8% to 27 days, slightly slowing sales cycles. However, pending sales jumped 11%, indicating continued momentum heading into 2025.
All data is from the New hampshire association of realtors market data site https://nhar.org/resource/market-data
Statewide Market Trends to Watch
- Housing Affordability Declining – The affordability index fell 10.6%, making it harder for first-time buyers to enter the market.
- Inventory Rising – New listings for single-family homes grew 4.8%, while overall inventory increased 7.9%, easing supply constraints.
- Longer Days on Market – Single-family homes took 37 days to sell, up 37% from last year, signaling a slight shift towards a buyer’s market in some areas.
- Sales Volume Growth – The total dollar volume of sales jumped 21.8% to $592.2 million, reflecting strong demand and price growth.
What This Means for Buyers & Sellers
Advice for Buyers: How to Navigate the Market in 2025
With home prices still rising and inventory increasing, buyers have more options than in previous years, but affordability remains a challenge. Here are some key strategies to stay competitive:
- Get Pre-Approved Early – Interest rates and lending standards can fluctuate, so securing a mortgage pre-approval before house hunting strengthens your offer and helps you understand your budget.
- Consider Expanding Your Search – While prices in areas like Grafton, Merrimack, and Sullivan counties continue to rise, expanding your search radius to smaller towns or emerging neighborhoods can reveal hidden opportunities.
- Act Fast but Smart – Even with longer days on market, desirable homes still receive strong interest. Be prepared to make quick yet informed decisions.
- Negotiate for Seller Concessions – With homes sitting longer on the market (e.g., 66 days in Grafton County), sellers may be more willing to negotiate on price, closing costs, or repairs.
- Look for Price Adjustments – As inventory increases, some sellers may drop prices if their homes don’t sell quickly. Tracking these changes with an agent can help you secure a better deal.
Advice for Sellers: How to Stand Out in a Shifting Market
While home values are still rising, longer days on market mean that sellers need to be more strategic than in past years. Here’s how to maximize your sale:
- Price Your Home Right from the Start – Overpricing can lead to longer time on the market and price reductions. Look at recent comparable sales (not just list prices) to set a competitive price from day one.
- Stage & Market Your Home Effectively – With inventory up 7.9% statewide, buyers have more choices. Make your home stand out with professional staging, high-quality photos, and targeted marketing.
- Offer Buyer Incentives – If you’re in a market with increasing days on market (like Grafton County’s 83.3% jump in listing times), consider offering closing cost assistance, rate buy-downs, or home warranties to attract more buyers.
- Be Flexible with Showings & Negotiations – Homes aren’t moving as fast as last year, so accommodating buyer schedules and being open to negotiations can lead to a faster, more successful sale.
- Don’t Wait Too Long – If you’re planning to sell, listing in early 2025 may be beneficial before more inventory floods the market, giving buyers additional leverage.
Final Thoughts: Is Now a Good Time to Buy or Sell?
The New Hampshire real estate market remains strong, but it’s evolving. Whether you’re buying or selling, working with a knowledgeable agent will help you navigate pricing, negotiations, and market timing.
📩 Let’s discuss your real estate goals!
📞 Call/Text: 603-443-3149
📧 Email: brendan@susancolerealty.com
