As stated last month in Anthony’s Predictions for 2026, 2025 was “a year riddled with industry headlines about tariffs, the new Trump Administration, major trade and national economic changes that seemed to have been met with incredible market resilience. Despite all that, 2025 will go down in history as the pivot year where the Real Estate market began to head back in the right direction!” Sure enough, New Hampshire saw sales and prices increase in 2025.
In 2025, the New Hampshire housing market built on momentum from 2024, with modestly higher sales activity and continued price gains, reflecting national trends. Buyer demand remained strong despite affordability challenges, while limited inventory continued to shape market dynamics. Many homeowners with low pandemic-era mortgage rates were still cautious about selling, though life events steadily brought new listings to market. As inventory gradually increased, sellers needed to focus on strategic pricing. Buyers remained engaged, adjusting to the current interest rates and home prices with a long-term outlook. As rates started to soften, homeownership continued to be appealing for its stability, potential for equity growth, and predictable monthly payments, reinforcing its long-term benefits over renting.
This report breaks down sales, average prices, the number of active listings, and how many listings went under contract for 2025 compared to 2024, and discusses what is predicted to unfold in 2026.
2025 Real Estate Performance Highlights:
- The number of homes sold increased by 4.1%
- Average prices for closed sales increased by 3.5%
- The number of homes listed increased by 9.3%
- The number of homes placed under contract (pending) increased by 5.3%
- Inventory has been rising over the past four years, giving buyers more selection
- 2026 is expected to bring inventory closer to normal levels, with home sales potentially up 10% over 2025
Sales Rise by 4.1%
Sales in New Hampshire increased from 16,968 in 2024 to 17,669 in 2025; 701 more sales year over year. Rates moved in a favorable direction late in the year, boosting buyer confidence and market activity. Potential sellers felt more comfortable listing and trading in their pandemic-era mortgage rates once fixed rates dropped into the low 6% range.
Sales were up in two out of three categories:
- Single family sales up by 3.8%: 12,007 in 2024 to 12,458 in 2025
- Condo sales up by 7.4%: 4,020 in 2024 to 4,319 in 2025
- Multi-family sales down by -5.2%: 941 in 2024 to 892 in 2025
Below is a graph that illustrates home sales per year since 2005. Sales have steadily showing growth overall since 2023.
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Monthly sales exceeded the previous year in eight out of twelve months, with particularly strong activity in Summer and December.
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Average Prices Increase by 3.5%
The statewide average home price rose $20,433 in 2025, reaching $599,912 compared to $579,478 in 2024. Despite affordability pressures, prices continued to climb as limited inventory intensified competition, often leading to multiple offers and higher final sale prices.
Prices increased in two out of three categories:
- Single family prices increased by 4.3%: $612,793 in 2024 to $639,363 in 2025
- Condo prices increased by 2.5%: $476,536 in 2024 to $488,636 in 2025
- Multi-family prices decreased by -1.1%: $594,161 in 2024 to $587,708
2025 marked the highest average prices in New Hampshire since 2011, and in many areas, the highest ever recorded. As long as demand remains stronger than supply, prices are expected to hold firm.
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Monthly prices in 2025 mostly exceeded those of 2024. The growth since COVID is especially clear when comparing the 2020 trends to 2025, highlighting substantial price gains.
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Average prices increased across every county in New Hampshire, ranging from 1.4% to 11.2%, showing that demand is strong statewide, not just in urban or coastal areas.
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2025 Listings Rise for the First Time Since 2015
New listings increased 9.3% in 2025, building on 2024’s rebound after the historically low levels seen in 2023 – the lowest since 1994. Many sellers had been hesitant to list, reluctant to give up their pandemic-era rates. In 2025, small declines in interest rates and changing personal circumstances motivated more homeowners to sell. Total listings reached 22,312, still below the long-term annual norm of roughly 25,000-30,000 homes, but the upward trend points to more inventory and options for buyers in 2026.
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Pending Sales Increased by 3.4%
Pending sales grew 5.3% in 2025, contributing to higher closed sales. By year-end, 19,691 homes went pending compared to 18,697 in 2024.
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New Hampshire’s Rising Housing Inventory
We can see 2025 inventory increased every month over 2024, which was a great sign for buyers.
It’s really telling to see where current inventory is falling when you compare it to the years prior to 2020. Those years hovered around the 6,500 – 8,400 range, where the past few years we have seen levels as low as 1,700. Seasonal trends continued, with inventory peaking in spring and summer and declining in late fall and winter. As Anthony often points out, selling in winter and buying in late fall can give homeowners advantages: winter sellers face less competition, while fall buyers enjoy more choices and stronger negotiating power.
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Will the 2026 Real Estate Market Improve?
The housing market showed renewed strength at the close of 2025. According to the National Association of Realtors, home sales increased in December and ended slightly above 2024 as mortgage rates stabilized. New Hampshire followed this trend, with activity picking up late in the year, especially in counties like Hillsborough and Rockingham, where buyer demand remained strong despite affordability pressures.
Rates spent much of 2025 in the mid-6% to low-7% range, providing predictability after several years of volatility. Early in 2026, rates dipped below 6%, energizing the New Hampshire market and encouraging buyers who had been waiting. This supports expectations that borrowing costs may continue to ease throughout the year.
Although 2025 remained challenging due to high prices, growth slowed toward year-end, helping balance the market. Buyers gained some relief while home values stayed strong thanks to ongoing demand. Early 2026 data shows a sharp rise in purchase applications, the highest since January 2023, indicating that market activity is picking up.
Housing inventory also improved. While New Hampshire still trails national averages, more homes are coming to market, giving buyers more choices than in recent years. Sellers must continue to price strategically, while buyers now have increased flexibility. As Anthony said in his 2026 Predictions, “2025 was certainly an adjustment year that set the stage for a healthy 2026. We are on the other side of this down cycle and are on our way back to a steady and active real estate market in the years to come.”
The post New Hampshire 2025 Year in Review first appeared on Lamacchia Realty.