Monday, September 23, 2024 / by Vanessa Saunders
New Hampshire’s Real Estate Market: Riding the Wave or Stuck in the Past?
New Hampshire’s housing market is all over the national news, with record-breaking stats like 57.8% of homes selling above asking price over the last five years—almost double the national average. It's a number that grabs headlines, but behind it is a more complex story. Yes, the market is hot, and Manchester, in particular, has claimed the title of the hottest housing market in the U.S. for a record 29th time. But as someone who’s worked globally in real estate for over 24 years, I see this market in a way many don’t: it’s ripe for disruption, and unless things change, the same forces driving prices up will end up hurting the very people who keep this state running.
The Price of Success: What Happens When No One Can Afford to Live Here?
There’s no question that New Hampshire’s real estate market is booming. The state boasts a 76.4% increase in median home prices over the last five years, the second highest in the nation, just behind Maine. But here’s the thing—these high prices are locking more and more people out of the market. The service providers, the middle-income families, the people who are the backbone of this state—they simply can’t afford to live here anymore.
And when they leave, who will serve the community? Who will staff the restaurants, the hospitals, the schools? This imbalance isn’t sustainable, and eventually, it will backfire on the wealthy, who won’t be able to find the workers they depend on.
Antiquated Practices Are Holding New Hampshire Back
The success of New Hampshire’s housing market might make it seem like everything is working just fine. But as someone with two master’s degrees in marketing and years of experience in real estate innovation, I see the cracks beneath the surface. The outdated, inefficient methods in place here make buying and selling homes more difficult than it should be. Transparency is lacking, modern technology is often shunned, and the market can feel like a relic from a bygone era.
I’m not here to maintain the status quo—I’m here to change it. My global experience in real estate, including the use of cutting-edge technology like blockchain, is exactly what New Hampshire needs to move forward. I’m not just talking about making things easier for the top 1%—I want to make this market more accessible to everyone, from first-time buyers to seasoned investors.
Manchester: A Market on Fire, But What About Tomorrow?
The Manchester metro area has been ranked the country’s hottest housing market more times than any other in recent history. But here’s what isn’t being talked about: while homes in Manchester are selling for an eye-popping median price of $550,000, just across the border in Boston, that number climbs to $834,500. Manchester’s proximity to Boston is a major factor driving demand, but with such limited inventory—there are only 2,146 single-family homes and 673 condos available across the entire state as of mid-September—competition is fierce, and many buyers are left out in the cold.
In the Lakes Region, where I live, the situation is even more telling. As of now, there are 440 single-family homes and 103 condos for sale, with a median price of $650,000 for houses. Condos are sitting on the market longer, with a median price of $509,900. But here's the kicker—while homes nationwide are taking longer to sell, with price drops happening in markets like Tampa, San Diego, and Denver, New Hampshire’s market remains tight. And that’s a problem for both buyers and sellers.
A New Path Forward: Real Estate That Works for Everyone
I’ve spent years navigating complex markets around the world, and I’ve seen firsthand how innovative practices can open doors for people at all price ranges. It’s not enough to cater solely to the luxury market—New Hampshire’s real estate system needs to work for everyone, from the young family just starting out to the retiree downsizing, and yes, even the second-home buyers looking for that perfect lakeside retreat.
As I prepare to speak at the International MLS Forum in Milan about the future of real estate and blockchain technology, my mission is clear: I want to bring the same transparency, efficiency, and fairness to New Hampshire. Blockchain offers a solution to the antiquated methods we’ve been stuck with here—by providing security, accountability, and speed to real estate transactions. The days of opaque deals and outdated systems need to be behind us.
Learn more about my upcoming presentation in Milan on blockchain and its potential to revolutionize the real estate industry here.
Final Thoughts: Change is Coming
The future of New Hampshire’s real estate market is at a crossroads. Will we continue to rely on old methods, pricing out the people who make this state so special? Or will we embrace innovation and create a market that works for everyone?
I believe it’s time for change. I’m ready to use my global experience, my expertise in marketing, and my passion for this region to make New Hampshire’s real estate market not just the hottest, but the smartest, most inclusive, and most efficient market in the country.
If you’re ready to be part of that change, let’s work together.
