New Hampshire Housing Prices: $500K Is the New Normal
March 2025 Market Update
New Hampshire's real estate market continues to climb, hitting another record this March. The median price for a single-family home reached $525,000, the highest ever for the month — and the 13th straight month that the median price has stayed above the half-million-dollar mark.
This also marks 62 consecutive months of year-over-year price increases. If you’re feeling like $500,000 is the new baseline in New Hampshire real estate, you’re not wrong.
What’s Driving It?
In one word: inventory.
There were just 1,245 single-family homes on the market at the end of March. Compare that to 7,300 homes back in 2016, and it’s easy to see how supply is affecting prices. At the current pace of sales, there’s only 1.2 months of inventory available — far short of the 5-7 months considered a balanced market.
What About Affordability?
The NHAR Affordability Index dropped to 59 in March, the lowest ever recorded for this time of year. That means the median household income in New Hampshire is only 58% of what’s needed to afford a median-priced home with today’s interest rates.
For context, the index was over 100 as recently as 2021, and even above 200 in 2012–2013. That’s a serious shift in just a few years.
What’s Being Done?
There is some movement toward solutions. NHAR President Susan Cole pointed to recent legislative progress aimed at:
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Allowing smaller, more affordable lot sizes
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Expanding accessory dwelling unit (ADU) options
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Reducing regulations that lead to sprawl and loss of open space
Cole emphasized that this crisis has been decades in the making, and it will take long-term, consistent action to bring affordability back within reach for New Hampshire families.