Your uncle who thinks “recycling is tyranny” probably loves New Hampshire; its motto is “live free or die,” there’s a “right to revolution” enshrined right in the state constitution, and there are no laws forcing people to wear seat belts or motorcycle helmets. But even setting aside its, uh, freedoms, the state has a whole lot to recommend it.
Tourism is a major driver of the economy in New Hampshire, as people are drawn there by its world-class skiing, forests, and even beaches. Thanks to a very low crime rate, high employment rate, and a strong overall economy, New Hampshire consistently ranks high for quality of life. The state median household income consistently ranks in the top ten in the nation, and it also ranks as one of the best educated states in America. All in all, the outlook for New Hampshire is bright, and projected to get even brighter.
New Hampshire Real Estate Market Forecast for 2019
New Hampshire home values rose 6% over the last year, and are predicted to rise by the same amount over the next year. This is a quite healthy growth rate when you consider how expensive it is to own real estate in New Hampshire, where the property tax rate consistently ranks in the top five most expensive markets in the nation.
Home values are very high in New Hampshire, compared to the national average, coming in at $282,600. This is partly because so many New Hampshire residents make the one hour commute to Boston, making some markets quasi-extensions of Boston’s high-priced market.
Rents are also quite high when compared to the national average, coming in at just a hair below $1,500. Supported by a strong economy and solid quality of life factors, New Hampshire’s real estate market figures to continue its rise in the near future.
What’s the Best Time to Sell a House in New Hampshire in 2019?
As in many northern states, you should avoid trying to sell your home during the harsh winter months. The numbers show that the best time to sell your home in New Hampshire is the month of July, when homes moved a full 12 days faster than the yearlong average.
Something else to consider: while July is the month when homes sell fastest in New Hampshire, it’s not the month when homes sold for the most. If you’re trying to maximize your profits, and have a little patience, you should aim for a November sale, when homes in New Hampshire sell for 5.1% more than the yearlong average.
Once you pick your month, don’t forget that the day of the week when you list your home can also make a huge difference in how your sale goes. Statistics show that listing your home on a Thursday, preferably as early in the day as possible, leads to the best outcomes.
That’s because prospective home buyers are just beginning to plan their weekend open houses on Thursdays, so your listing will be fresh and at the top of the list. Listing early in the week risks getting buried under all the subsequent listings, and it’ll be difficult to sell your home if no one makes it to your open house.
When Is the Best Time to Buy a House in New Hampshire in 2019?
The best time of the year to buy a house in New Hampshire is the month of January.
Why? Simple. It really comes down to the law of supply and demand. January isn’t just one of the harshest winter months in a state known for inclement weather (did you know that scientists recorded the strongest wind gust ever in New Hampshire), but it also falls smack in the prime of the post-holiday hangover, when people are assessing their battered finances, and recovering after a hectic couple months of parties, family reunions, and holiday dinners.
Homes in January took an average of 20 days longer than the yearlong average to sell, and when they finally did sell, they brought in 12% less than the yearlong average price. While it might be hard to brave the fierce January wind chill, it could pay off big time if you’re looking to buy in New Hampshire..
This tracks closely with national data, but you might also consider starting your home search even earlier, in the thick of holiday season. Christmas week is a great time to look at homes with little or no competition; if you’ve ever been in a bidding war for a home, you know what a luxury it is to put in an offer knowing it’s probably the only one.
Picking the right month and day to put your home up for sale could mean an instant sale for several thousand dollars above your asking price, whereas picking a sub-optimal month and day could mean a long, fitful wait, followed by one or two lowball offers. Which is to say, timing the market is one of the most important factors affecting your home sale.
The best way to ensure you time the market well is to partner with an experienced local agent. A great local agent will know almost instinctively all the statistics and percentages that we’ve laid out above, and can provide even more granular detail based on your local market’s eccentricities and micro-fluctuations. A great New Hampshire agent has been through many selling cycles and closed countless sales, so they’ll be intimately familiar with any issue that might arise.
Clever Partner Agents are elite performers in their markets, and come from top brokerages and brands. Whether you work in Boston and are looking to buy a family home to commute to in Nashua, are looking for a vacation home on the beach in Hampton, or have your eye on a ski chalet near Bretton Woods, our agents can help you get your dream home at a price you never dreamed possible. Contact us today for a no-obligation consultation!