The New Hampshire housing market in January 2025 presents a complex landscape with varying trends across different metrics. The Median Sales Price has decreased by 1.2% year-over-year, settling at $487,700. This decline contrasts with the Median List Price, which has risen by 9.3% to $512,500, indicating a potential gap between seller expectations and buyer willingness.

Price Per Square Foot metrics also reflect this divergence. The median Price Per Square Foot has increased by 6.7% to $275, while the Median List Price per square foot has seen a 7.5% rise to $292. This suggests that while sellers are optimistic about pricing, buyers are more cautious, possibly due to economic factors or market saturation.

In terms of sales activity, the number of Homes Sold has decreased slightly by 0.9% year-over-year, with 951 Homes Sold in January. Pending Sales have also seen a minor decline of 0.4%, totaling 1,146. However, New Listings have increased by 6.9%, reaching 1,125, which may indicate a growing inventory and more options for potential buyers.

The inventory of homes has grown by 6.6% to 2,261, contributing to an increase in the Months of Supply, which is now at 2.4 months, up by 20% from the previous year. This rise in supply could lead to more competitive pricing and longer market times, as evidenced by the Median Days on Market, which has increased by 13% to 59 days.

The average sale to list ratio has slightly decreased by 0.6%, now at 99.2%, suggesting that homes are selling closer to their list prices, but not exceeding them as frequently as before. The percentage of Homes Sold above list price has dropped by 5.4% to 35.6%, further indicating a cooling in competitive bidding.

Price Drops have become more common, with a 2.6% increase, now affecting 15.9% of listings. Additionally, the percentage of homes going off the market within two weeks has decreased by 5.8% to 45.5%, reflecting a slower pace in buyer decision-making.

Overall, the New Hampshire housing market in January 2025 is characterized by increased inventory and listing prices, alongside a slight decline in sales and a longer time on the market. These factors suggest a shift towards a more balanced market, where buyers have more negotiating power and sellers may need to adjust expectations to align with current market conditions.