Summer is upon us, and the temperatures are heating up. However, the real estate market is a little cooler than normal this time of year due to the combination of extremely low inventory and higher borrowing costs, which has restricted the market activity going into traditionally strongest part of the selling season. New Hampshire is faring much better than the national market, with the National Association of Realtors reporting that home sales nationally are down 20.4% at the end of June, while NH is only down 7.2% year over year. This tight supply has kept prices trending upward, with the median home price hitting an all-time high of $499,000, a whooping 8.5% increase over the same period last year!

Despite the tendency to tie the lack of inventory with both new and existing homes to sell to the robust buying we experienced during the pandemic, the reality is we have not been keeping up with the demand for over 10 years. The graph below clearly shows the drop in "months' supply" from 10 months to a current level of under just 2 months. On most NH markets we deal in, we are seeing 30 days as the average. The good news is the trend is headed up, and we estimate that over the next several months we will see a continued trend upward, closing in on the 3-6 months "healthy market" benchmark.

Though the market has seen lots of changes and challenges over the last 3 ½ years, we are so very proud that our dedicated team of Sales Associates and Support Staff. They have continued to provide expert guidance on marketing, financing and the hundreds of both big and little issues that come up when you are buying and selling real estate. In total sales so far this year, including towns in Western Maine, the Northeast Kingdom of Vermont and our market areas in New Hampshire, we have been able to participate in over 388 transactions so far this year, totaling more the $160 million dollars in grand total sales volume, and maintain a strong market share leader position in the areas we do business. Thank you! 

BADGER PEABODY & SMITH REALTY - THE CLEAR MARKET LEADER

Based on information from Prime MLS Inc., Grand Total Market Share, All Categories, 1/1/2023-7/17/2023. Towns of: Albany, Ashland, Bartlett, Bath, Berlin, Bethlehem, Bristol, Campton, Carroll, Conway, Dalton, Dummer, Easton, Eaton, Franconia, Gorham, Hale's Location, Hart's Location, Haverhill, Hebron, Holderness, Jackson, Jefferson, Lancaster, Landaff, Lincoln, Lisbon, Littleton, Lyman, Madison, Milan, Monroe, New Hampton, Plymouth, Randolph, Rumney, Sandwich, Sugar Hill, Tamworth, Thornton, Wentworth, Whitefield, Woodstock. All property types.

To learn more about the market, feel free to reach out to any of our agents to assist you. 

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Broker/Owner Andy Smith has over 32 years experience in the Real Estate Industry. In 2004 he was designated as a Certified Commercial Investment Member (CCIM), a recognized expert in the disciplines of commercial and investment real estate. He is a founding Member of the NH Commercial Investment Board of Realtors, having served as a Board member, Treasurer, and President. In 2004 he was named the board's Realtor of the Year. Additionally, he is a Trustee for the Society for the Protection of New Hampshire Forests, a past Director of the Northern New England Real Estate Network, is a member of the Littleton Rotary Club and serves on the Board of Directors for The Guaranty Bancorp/Woodsville Guaranty Savings Bank. Andy was awarded the Littleton Area Chamber of Commerce 2007 Business Leader of the Year. In his spare time he can be found on the tennis or squash courts, skiing, or riding one of his motorcycles. Andy lives in Twin Mountain with his wife Jackie, and enjoy spending time with their son and grandchildren in Colorado.