The Concord, NH metro area housing market in February 2025 presents a complex landscape, characterized by both rising and falling metrics. The Median Sales Price has decreased by 4.6% year-over-year, settling at $439,000. In contrast, the Median List Price has increased by 5.6% to $475,000, indicating a potential gap between seller expectations and buyer willingness.

Price Per Square Foot metrics reveal a nuanced picture. The median Price Per Square Foot has risen by 5.1% to $251.43, while the Median List Price per square foot has slightly decreased by 1.1% to $256.74. This suggests that while sellers are listing homes at higher prices, the actual sale prices are not keeping pace, potentially due to market adjustments or buyer resistance.

Sales activity in the region shows significant growth, with Homes Sold increasing by 29.3% year-over-year, totaling 97 homes. Pending Sales have also risen by 9.3%, reaching 129. However, New Listings have declined by 16.4%, with only 97 new properties entering the market. This reduction in New Listings, coupled with a 6.2% decrease in inventory to 181 homes, indicates a tightening market.

The Months of Supply, a critical indicator of market balance, has dramatically decreased by 70.0% to 1.9 months. This sharp decline suggests a shift towards a seller's market, where demand outpaces supply. Despite this, the Median Days on Market have increased by 8.0% to 46 days, indicating that while demand is high, buyers may be taking longer to make purchasing decisions.

The average sale to list ratio has decreased by 2.0% to 99.5%, reflecting a slight reduction in the competitiveness of offers. Additionally, the percentage of Homes Sold above list price has dropped by 13.9% to 38.1%, further suggesting a cooling in bidding wars. Price Drops have increased by 2.7% to 10.5%, indicating that sellers may be adjusting their expectations to align with market realities.

Finally, the percentage of homes going off the market within two weeks has decreased by 13.6% to 55.0%, suggesting that while the market remains active, the pace of transactions may be slowing slightly.