New Hampshire housing market sees 65 straight months of growth

It was announced this week by the New Hampshire Association of Realtors that New Hampshire’s median home sales price hit a record high in June, jumping to $565,000 — a 4.6% increase from the previous high of $540 in June 2024.

All of us in the real estate industry have been watching the numbers closely. It’s pretty scary because this marks the 65th consecutive month NH has seen a monthly price increase compared to the same month of the previous year.

I have been practicing real estate in the Lakes Region for 49 years, and I have not seen the market respond like it is today with so many frequent increases. I keep saying, when will the housing market cool off or take a dip?

The problem I see in the Lakes Region is that we had a surge in sales from out-of-state buyers that started with the COVID-19 pandemic, and the intensity of that surge has slowed; however, we still do not have a balanced market.

Even though more products are coming on the market, we are still way down in inventory numbers. For example, there were 2,431 single-family homes for sale in New Hampshire during June; however, when you compare this number to what the state had in inventory nine years ago, with 7,112 homes for sale, that’s a huge difference. 

It was reported in May, there was a four-to-six month supply of inventory nationally. However, New Hampshire only had a 2.1-month supply. So, for us to get to a more balanced market, we need to get between five-to-six months’ supply in New Hampshire.

We are now halfway through 2025, and I wanted to see how our three counties in the Lakes Region performed compared to the same six months during 2024. I pulled the numbers from PrimeMLS.

Single-family homes

So far in 2025, Belknap County has seen 312 single-family home sales with prices ranging from $115,000 to $5.25 million. The median price was $519,500 with an average of 12 days on the market. The total sales volume was $211,131,979.

In the same time period of 2024, the county saw 318 single-family home sales with prices ranging from $75,000 to $5.35 million. The media price was $486,500 with an average of 10 days on the market. The total sales volume was $217,255,444.

Carroll County has seen 361 single-family home sales so far in 2025 with prices ranging from $65,000 to $5.95 million. The median price was  $492,000 with an average of 21 days on the market. The total sales volume was $236,575,476.

In the same time period of 2024, the county saw 301 single-family home sales with prices ranging from $130,000 to $6.3 million. The media price was $460,000 with an average of 16 days on the market. The total sales volume was $197,187,259.

Grafton County has seen 372 single-family home sales so far in 2025 with prices ranging from $43,500 to $4 million. The median price was  $453,500 with an average of 14 days on the market. The total sales volume was $225,244,422.

In the same time period of 2024, the county saw 362 single-family home sales with prices ranging from $50,000 to $3.92 million. The media price was $414,500 with an average of 11 days on the market. The total sales volume was $197,763,370.

Condominiums

So far in 2025, Belknap County has seen 126 condominium sales with prices ranging from $24,000 to $2.49 million. The median price was $432,500 with an average of 14 days on the market. The total sales volume was $62,779,821.

In the same time period of 2024, the county saw 110 condominium sales with prices ranging from $24,500 to $1.27 million. The media price was $362,500 with an average of 12 days on the market. The total sales volume was $50,338,700.

Carroll County has seen 88 condominium sales so far in 2025 with prices ranging from $15,000 to $2 million. The median price was $410,000 with an average of 18 days on the market. The total sales volume was $47,915,252.

In the same time period of 2024, the county saw 99 condominium sales with prices ranging from $9,500 to $1.63 million. The media price was $$400,000 with an average of 11 days on the market. The total sales volume was $45,013,321.

Grafton County has seen 163 condominium sales so far in 2025 with prices ranging from $5,500 to $1.9 million. The median price was $387,500 with an average of 16 days on the market. The total sales volume was $73,879,500.

In the same time period of 2024, the county saw 170 condominium sales with prices ranging from $14,500 to $1.3 million. The media price was $390,000 with an average of eight days on the market. The total sales volume was $73,158,154.

Lake Winnipesaukee 

There have been 25 sales on Lake Winnipesaukee, including island properties, so far in 2025 with prices ranging from $900,000 to $5.95 million. The median sales price was $2.2 million with an average of 40 days on the market. The total sales volume was $68.3 million.

In the same time of 2024, there were 25 sales ranging from $900,000 to $6.3 million. The median sales price was $2.58 million with an average of 22 days on the market. The total sales volume was $72.1 million.

In summary, the limited housing inventory is keeping the Lakes Region housing market competitive and is still driving up prices. Certain parts of the market are seeing price reductions and longer days on the market; that’s a good thing for buyers.

At the lower price points, there is not enough product to satisfy the demand, and that makes it very challenging for individuals looking to purchase their first homes.

We are seeing this housing market transition in other parts of the country. Florida, Austin, Phoenix, Las Vegas, Denver, and Seattle are all examples that the winds are now headed to the Northeast.

We simply need more inventory, which in turn will ease the upward pressure on home prices, and we need mortgage rates to decline to see a meaningful increase in housing market activity. In the meantime, we are fortunate to live in the Granite State…we are in a good place!

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This article was written by Frank Roche, president of Roche Realty Group with offices in Meredith and Laconia, and can be reached at 603-279-7046. Visit rocherealty.com to learn more about the Lakes Region and its real estate market.