new hampshire real estate - craigslist (2024)

FAQs

Are home prices dropping in NH? ›

Are Home Prices Dropping in New Hampshire? As of the latest data available, there is no indication of home prices dropping in the New Hampshire housing market. On the contrary, home values have been steadily increasing, reflecting strong demand and limited inventory.

Declining Inventory of Single-Family Houses

Rapidly increasing housing prices across the Granite State reflect the drastic decline in inventory for single-family houses on the market. According to NHAR, there were a total of 1,435 single-family houses on the market across the entire state in April 2024.

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.

Investors eyeing the New Hampshire real estate market may find promising opportunities with moderate growth forecasted. According to data, cities like Keene show a year-over-year price change of 0.1% as of January 31, 2024, with the expectation to increase to 1.1% by April 2024.

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.

While New Hampshire has a higher cost of housing, taxes, and overall expenses, Florida offers a more affordable lifestyle. With no state income tax and a generally lower cost of housing, residents of Florida can enjoy a higher standard of living and keep more money in their pockets.

New Hampshire is the state with the seventh highest median household income in the United States: $89,992 as of 2022. The most affluent parts of the state are in the Seacoast Region, in the outer Boston suburbs, and around Dartmouth College.

How Much Do You Need to Make to Live Comfortably in New Hampshire? According to Go Banking Rates, a single person in New Hampshire needs to make about $62,935 in order to live comfortably. It is about $66,000 in Vermont, and about $88,000 in Massachusetts.

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?

Is it more expensive to live in NH or MA? ›

The cost of living in NH is 15% less than MA. The cost of groceries in NH is 14% less than MA. The cost of housing in NH is 25% less than MA. The cost of utilities in NH is 10% less than MA.

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.)

Occasionally, issues do arise, including between buyer and lender, buyer and seller, and sometimes seller and real estate agent. Paying a little extra to have your own attorney can help thwart or minimize problems down the road. It's not an absolute guarantee, but it helps reduce the likelihood.

Yes, even for sale by owner (FSBO) home sellers in New Hampshire must adhere to certain rules and regulations. While FSBO sellers may not have the assistance of a real estate agent, they are still obligated to comply with state and local laws governing real estate transactions.

Terraced properties sold for an average of £316,090, with flats fetching £214,482. Overall, sold prices in Hampshire over the last year were 3% down on the previous year and 3% up on the 2021 peak of £396,730.

The Fed's rate hikes have slowed the housing market. Home sales have dropped sharply. But home prices remain near record levels. Because home values are not driven solely by interest rates but by a complicated mix of factors, it's hard to predict exactly how the Fed's efforts will affect the housing market.

The absence of state income tax and sales tax creates a favorable environment for property owners. Additionally, property tax rates in New Hampshire are relatively low compared to many other states, allowing investors to keep more of their rental income.

The average time it takes to sell a house in New Hampshire is 73 days — 38 days to get an offer and an additional 35 days to close. This is approximately 15.1% faster than the national average. Keep in mind that these are annual averages and the numbers will vary by month and/or season.