Are Home Values Rising or Falling in Southern NH?

If you’ve read the latest housing headlines, you’ve probably seen some conflicting takes.

And when you zoom out, it makes sense as to why: A new Zillow report found that, in half of the country’s largest metros, home values rose over the past year. In the other half, they fell. 

So today, we’re breaking down what’s happening nationally, and more importantly, how it compares to what we’re seeing here in Southern NH.

National Market Trends

At the national level, home values have barely moved, rising just 0.2% over the past year. 

• Home values rose in 25 major markets, mostly in the Midwest and Northeast. Cleveland (+4.7%) and Hartford (+4.5%) led the pack.

• Home values fell in 25 markets, especially in the South and West. Tampa (-6.2%), Austin (-6%), and Miami (-4.6%) saw the steepest declines.

Aside from home prices, here’s what’s happening across the country:

• Sellers cut prices on 27.4% of listings, the highest rate since tracking began in 2018.

• Homes are lingering on the market longer, with a median 60 days on market, the slowest July in over a decade.

• Mortgage costs are down slightly, about $19 per month compared to last year, but still nearly $1,000 higher than before the pandemic. 

That means affordability remains a challenge, even in markets where buyers have the upper hand.

What’s Happening in Southern NH

National trends don’t always tell the full story. Here in  Southern NH:

• Median home price: $584.4k

• Price cuts: Approximately 25.5% of listings compared to 27.4% nationally.

• Days on market: Homes here are selling in 35 days on average, compared to national 60-day median

   

Homes here are still selling faster than the national median of 60 days, and buyers are seeing fairly stable prices. For sellers, well-priced homes continue to attract strong interest, while overvalued listings may take longer to sell.

What It Means for Buyers

Nationally, buyers are seeing more homes sit longer and more price cuts. In Southern NH:, Nationally, buyers are seeing more homes sit longer and more price cuts. In Southern NH, there’s still plenty of activity, well-priced homes move quickly, and buyers who act fast have the best chance at snagging the right property.

If you’re looking to buy, here’s my advice:

• Watch for price reductions. It’s a sign sellers are willing to negotiate.

• Get pre-approved so you’re ready to act when the right home hits the market.

• Don’t assume headlines about “falling prices” apply here. Check the local stats.

What It Means for Sellers

The national data is clear: Homes that are overpriced are sitting. Homes that are priced right are still selling.

In Southern NH, we’re seeing well-priced homes move quickly, often selling in around 35 days, while listings priced above market tend to stay on the market longer.

If you’re thinking of selling, remember:

• Pricing competitively from the start is more important than ever.

• Buyers are savvy, with plenty of data at their fingertips.

• Making your home shine online with great photos, 3D tours, or floor plans can help you stand out.

The Bottom Line

Kara Ng, a senior economist at Zillow, summed it up best: “Perhaps more than ever, whether it’s a good time to buy depends on where you live.”

The housing market is split nationally, but what really matters is what’s happening locally. If you’re thinking of buying or selling in Southern NH, the numbers show that strategy matters more than ever. 

Pricing, timing, and presentation will determine who wins in this market.