Are you excited to buy your dream home in New Hampshire? Understanding the current market can help you get a better deal.
The best time to buy a house in New Hampshire depends on several factors, including the time of year, demand for homes in the area, and federal interest rates, among other things.
If you’re trying to time the market to your advantage, it pays to partner with a local real estate agent that already understands the market and can help you get an optimal outcome.
Here’s what you need to know about the best time to buy a house in New Hampshire:
Best Time of Year to Buy in New Hampshire
Like many Northeastern states, New Hampshire’s housing market tends to be seasonal. The brutal winters and abundant snowfall slow the market during the winter. Many homeowners are not listing homes for sale during this time, but it also means that those homes on the market aren’t getting many offers. This can be good news for buyers looking for a good deal, especially if homeowners are eager to sell.
Historically, the best time for homeowners to sell is May. During this time, supply is higher and homes tend to be sold quicker. This can either work for or against the buyer: on the one hand, you have more to choose from, but the downsides are fierce competition and potentially higher home prices.
Right now, New Hampshire is experiencing a “very hot” seller’s market, according to Zillow data. This means that the demand for homes in New Hampshire is outpacing the supply, which could drive up home values. In fact, home values have been steadily climbing since bottoming out in 2012, with a median value of $275,000. Homes average 93 days on the market in New Hampshire, so it helps to be ready to strike a deal on the home you want before someone else does.
The Best Places to Buy a Home in New Hampshire
New Hampshire is a small state brimming with many desirable cities and neighborhoods. Take a look at five of the best places to live in New Hampshire and what makes them special:
Amherst has been rated the best place in New Hampshire to raise a family. Their top-rated schools, proximity to other similar-sized towns, and the number of parks and recreation opportunities attract young families and professionals.
This small town offers the privacy of a rural area, but the attractions of larger cities aren’t far away. A strong job market, great schools, and low crime make this a desirable place to live for families and working professionals alike.
Tucked just outside of Manchester, Bedford offers the best of smalltown community and larger city amenities. Home values are more than double the national average, crime rates are moderate, and the job market is strong.
This scenic coastal town is one of the most unique in the state. Its close proximity to mountains and beaches, excellent public schools, low crime rate, and smalltown vibe make it a desirable place for families and professionals.
Brimming with hometown charm and a modest population of just 4,700, Brentwood is a destination for families. The public school system is highly rated, crime rates are low, and home values are well above the national average.
4 Ways to Get a Great Deal On a Home in New Hampshire
Timing the market isn’t the only way to get an attractive deal on a house in New Hampshire. Consider the following ways you can avoid overpaying for your new home:
1. Find a Great New Hampshire Real Estate Agent: Find a top-rated local real estate agent in New Hampshire that knows what to expect from the market. Take advantage of their inside expertise, including how to time the market, so you can spend less time on your home search and still come out on top.
Learn More: What Does a Real Estate Agent Do for a Buyer?
2. Assess Your Needs and Lay Out Your Goals: Your agent can help you put your home-buying needs into perspective: how large of a home do you need? What type of property are you looking for? What’s your budget for a new home? Get specific about what you’re looking for, then work from there.
Learn More: What to Look for When Buying a Home
3. Find a Lender and Secure Financing: If you’re buying a home in New Hampshire, you have multiple lending options available to you, including those offered solely for New Hampshire residents. Your agent can walk you through your financing options and timeline so you can make an informed decision, with your unique goals and financial situation in mind.
Also, keep in mind that most home closings take approximately 30 days, and if you’re on a tight timeline, you can lean on your agent to keep the pace.
Learn More: A Step-By-Step Guide to the Home Loan Process
4. Negotiate for the Best Possible Price: Have you found a property you want? You’ll need to do a few things before you can make it yours, starting with an offer to the homeowner. Your agent can help you formulate and submit an offer, and even negotiate on that offer once the home inspection is finished.
Learn More: How to Find a Buyer’s Agent That’s a Good Negotiator
Is now the best time to buy a house in New Hampshire? If you’re ready to find your dream home, connect with a Clever Partner Agent today and let us help you make the shift from home searcher to homeowner.