Looking Forward to Spring 2022 Real Estate

New Hampshire Real Estate has fluctuated in recent years, igniting many questions in potential buyers and current owners. Spring is one of the most popular times for selling homes as buyers anticipate relocating for the warmer months. On average, it takes about 31 days for a house to sell on the market in New Hampshire as of March 2022. According to the New Hampshire Association of Realtors, the hottest markets in NH were in Manchester and along the seacoast region when assessed at the end of 2021. We’re going to discuss the current real estate market in New Hampshire and our predictions for the future.

New Hampshire Real Estate Inventory and Demand

            March 2021 vs March 2022 home prices in New Hampshire were up 22%, and the number of homes sold dropped by 17%. As a result, the number of homes for sale has decreased by nearly 12.5%. Many people wonder if the market will go back to normal and what to expect from it moving forward. In 2022, there’s been a drop in housing supply but a boost in buyer demand.

            This indicates that the housing market is competitive. Bidding wars are frequent as buyers struggle to find homes within their budget, preferences, and ideal locations. Some of the most competitive cities in New Hampshire include Newmarket, Manchester, and Goffstown. Areas with the fastest-growing sales price include Portsmouth, Hampton, Salem, Laconia, and Concord, to name a few.

Should I Buy a NH Home in 2022?

            There’s no denying that the pandemic enticed many people to relocate to new areas and change their lifestyles. There are options available in a competitive market, but it may be a tumultuous climate. Nearly one-third of current homeowners have a mortgage far below today's level, encouraging many people to stay where they are. For those looking for real estate, many homes are being sold at a steeper rate to compensate for the supply-demand trajectory in 2022.

            Many smaller cities will see an influx of residents in the coming months as first-time homebuyers hunt for options in their price range. Overall, cities saw a decrease in prices during the pandemic, as many people avoided locating to populated regions. However, as time passed, these rates began to increase again. This is estimated to stay consistent, especially during the popular spring and summer months when out-of-towners decide to move. If you want to buy a home in 2022, consult with your Verani Real Estate advisor to get professional guidance.

Current New Hampshire Real Estate and Future Predictions

                There is typically a lull every year in the NH real estate market during the colder months. As we move into the spring and summer, more homes will likely come on the market, and demand will be higher. Depending on your budget, area, and timeline, the house-hunting process will look different for everyone. Many people are working remotely or looking for more affordable options for commuting to their city jobs. The Granite State will see a higher supply and demand as we get deeper into the year.

             If you have buying or selling a New Hampshire home on your mind, it’s a great time to consult with a real estate agent and discuss potential options depending on the market climate in your region. While the current real estate market in New Hampshire is in flux, there is still a demand for houses which makes it a good selling time for owners. Those looking to buy should make a wants and needs list, including location, amenities, and home style, alongside working with a professional. This will ensure you can find exactly what you’re looking for without falling victim to the current market uptick.

If you’re looking to buy or sell Real Estate in New Hampshire’s popular cities or towns, contact us today, your trusted and knowledgeable Verani Realty REALTORS®. Call your local Verani agent or visit verani.com for more information.