New Hampshire Housing Market 2023 Report

Hannah Griffith
14 min read
January 17, 2023
New Hampshire Housing Market

What’s the New Hampshire Housing Market Like?

Home prices in New Hampshire have appreciated 178.0% higher than the national level from last year. Looking back three years at the median price in October 2019 compared to October 2022, prices have increased 48.9% in New Hampshire VS 35.8% nationwide.

 As of October 2022, the median price for a home in the state was $418,400, which is up 13.9% above last year’s median price. Comparing prices over the last three years, we can see they have decreased -3.6% from the peak of $434,200 in May-2022.

Sales volume has also decreased recently. In October 2022, 1,765 homes were sold in the state of New Hampshire, a decrease of -18.2% from the previous month.

Comparing year-over-year, we saw a decrease of -24.0% in sales from October 2021, when there were 2,323 home sales.

The number of sales peaked at 2,770 sales in Oct-2020; compared to October 2022’s numbers, we are down -36.3% in the number of homes sold from the height of sales activity of the last three years.

It is clear that the recent steep rise in mortgage rates has curved sales activity and shrunk affordability, and the result has been a drop in home prices in New Hampshire.

New Hampshire real estate market trends

How Does The New Hampshire Housing Market Compare to the National Housing Market?

The New Hampshire housing market is similar to other markets because supply and demand drive housing prices. Mortgage rates also impact New Hampshire in a similar way as the rest of the nation.

New Hampshire’s home prices and sales numbers have begun to slow down along with the rest of the country. Differences in the regional economy of some of New Hampshire’s metro areas make those markets more vulnerable and others more resilient to the current economics.

The current median price of homes in New Hampshire is $418,400 compared to the national median sales price of $397,549. Over the past three years, the median price of homes in New Hampshire has increased by 48.9% compared to the national average of 35.7%

New Hampshire Metro Areas With The Hottest Housing Markets

The state of New Hampshire has seen significant growth in housing demand in recent years. Consequently, prices have also gone up at a good pace.  Some areas within the state have outperformed others though.  We will look at the cities with the highest increase in the median price year over year.

The top markets with the highest appreciation rate:

  1. Hampton
  2. Portsmouth
  3. Derry
  4. Laconia
  5. Salem


Hampton is in Rockingham County and is one of the most beautiful places to live in New Hampshire. Its population was 16,214 at the 2020 census. Residents in Hampton enjoy a sparse suburban vibe, and the majority own their homes. Also, it serves as the state's busiest beach community.

Hampton’s home prices have been doing quite well over the last few years; in fact, Hampton topped the list of cities in New Hampshire with the largest increase in prices in 2022 with an increase of 40.5% from the prior year.  For 2022, October’s median price was $555,000.

In October of 2022, there were 20 homes sold in Hampton, down -6.9% from the same period in 2021.

The median days on the market in October 2022 was 27, which indicates a seller’s market by today’s standards. Compared to October 2021, the median days on the market is down -6.9% compared to October 2022.


The city of Portsmouth, which is only 60 miles north of Boston, is well-known for its tax-free shopping, waterfront views, and historic sites. Portsmouth in Rockingham county is the oldest settlement and the second oldest city, the first capital and only seaport of the State. According to the 2020 census, it had a population of 21,956.

The Portsmouth Real Estate market is currently a somewhat competitive market. In October 2022, there were 25 homes sold with a median price of $860,000. The median home price in Portsmouth has increased 41.9% from October of 2021, while the number of homes sold was 25, a -35.9% decrease compared to the same month the year before.

The median days on the market in October 2022 was 41 and it’s down -29.3% compared to Sept 2021. 


Derry is a town in Rockingham County with a population of 34,317 as of the 2020 census. Despite being a town rather than a city, it has the highest population in Rockingham County and is fourth in popularity in the entire state.

Derry experiences a humid continental climate with four distinct seasons, including snowy winters and exceptionally warm and humid summers.

Derry is considered a very competitive market right now. In October 2022, there 28 homes were sold with a median price of $860,000. The median price in Derry was up 41.9% over October of 2021, while the number of homes sold was down -48.1% compared to the same period in 2021.

 The median number of days on the market for October 2022 was 29 days which is up 222.2% from October of 2021.  


Laconia in Belknap County had a population of 16,871 as of the 2020 census. It is located between Lake Winnipesaukee and Lake Winnisquam. Whatever the season, this city provides a variety of recreational activities, yearly events, and festivals that suit the ambiance and mood you seek in a location. One of the biggest rallies in the nation is held in the city every June, known simply as "Bike Week" or Laconia Motorcycle Week.

The real estate market in Laconia is considered somewhat competitive. There were 37 homes sold in Oct 2022, with a median price of $385,000. The median price in Laconia increased 21.5% from Oct 2021, while the number of homes sold was down -17.8% compared to the same period last year. 

The median number of days on the market for Oct  2022 was 46 days which is down -4.2% compared to the same month in 2021.


Salem, a Boston suburb with a population of 30,089 at the 2020 census. One of the nicest places to reside in New Hampshire is Salem, which is located in Rockingham County. Salem provides residents with a dense suburban feel, and most locals own their homes.

Salem has developed into a commercial hub due to its location on Interstate 93 and the fact that it was the first town in New Hampshire to be exempt from the state sales tax.

Salem is currently a very competitive market. In Oct  2022, 27 homes were sold with a median price of $560,000. The median price in Salem saw an increase of 18.4% over Oct 2021, while the number of sales was down -37.2% compared to the same month in 2021.

The median number of days on the market for Oct 2022 was 20, which is an increase of 18.4% compared to the same month last year.

Higher Mortgage Rates Could Slow Price Growth in New Hampshire

How will interest rates affect the New Hampshire housing market? We are already experiencing the impact of rising interest rates across the nation. Price growth in New Hampshire has been flattening or on a slight decline for several months in 2022. However, 

As of mid-October 2022, the 30-year fixed rate mortgage is above 7% on average. That represents a 133% increase in mortgage rates in less than nine months. The Feds are on a “no holds barred” approach to curve inflation, and interest rate hikes have become the norm over the last several Fed meetings. Unfortunately, it seems that rate hikes are not done. We anticipate at least another rate increase before the year ends.

Key Market Stats for the New Hampshire Housing Market:

As of the latest compiled housing report for October 2022.

 Current ValueLast YearChange YOY
Median Sales Price$418,400$367,500up by 13.9%
Number of sales1,7652,323down by -24.0%
Median Days On The Market3937up by -3.6%
Number of homes available4,6795,994decrease of -21.9%
Months supply of inventory21up by 100.0%
% of homes sold above list46.3%56.4%down by -17.9%
% of home with price drops23.4%15.2%up by 53.9%
New Listings12911875down by  -31.1%

New Hampshire Historic price changes & affordability

The New Hampshire housing market has seen explosive appreciation for years. The last 3 years have been particularly favorable to homeowners as they saw their homes appreciate by 48.9% in 36 months.  

The steep rise in home prices and mortgage rates has shrunk affordability to record lows in the state. A 48.9% spike in home prices and a sharp increase in mortgage rates in the last 12 months does not spell good news for the New Hampshire Real Estate market.

We know that the average person’s wages do not increase by 48.9% in three years, so we can see why affordability is a problem. The gap between rising home prices and wages keeps getting wider.

Key Takeaways

  1. The housing market is clearly shifting, and New Hampshire housing market predictions for the short term seem to point to a declining market along with many areas of the US.  Due to New Hampshire’s aggressive price growth, some of the state’s metro areas are predicted to drop in home values.
  2. The next 18 to 24 months will be an adjustment, especially for home sellers and Real Estate professionals. Adjusting to a normalized market that is not heavily skewed in favor of sellers will take time.
  3. Real Estate markets are highly local and even within the same state, there will be areas that are projected to be hit hard by the market shift and others will fare better.
  4. Timing the market for buying or selling is a big gamble. If it makes sense for you to buy, go ahead and buy a home. For sellers, if you have to sell in the next 12-24 months, you may want to consider doing it sooner than later, especially if you are in an area that may be considered overvalued and has a high potential for house prices to drop.

2023 New Hampshire Housing Market FAQ