Its convenient location to major cities makes New Hampshire a desirable place to live. Low inventory and interest rates have kept it a seller’s market in cities like Portsmouth and Nashua. Millennials and first-time buyers are drawn to commuting options, especially in the southern region.
Particularly in the $300K and below range, average days on market is expected to remain stable. Brokers predict inventory will increase slightly in Portsmouth and remain low in Nashua, where competition is fierce among downsizers and first-time buyers. Affordability will remain a driving factor for sales in New Hampshire.
Most notably, Portsmouth reports a sharp increase in average residential sales price, likely due to its waterfront accessibility, while the rest of the state remains steady. Average days on market has balanced across the state over the last four years, with all regions decreasing except for Portsmouth, which has risen slightly. This stabilization is expected to continue in 2017.