The national trend of low inventory and buyers seeking idyllic environments away from America’s big cities has sent property prices soaring in New Hampshire.
If you’re not familiar with the Granite State, you may wonder why it has become such a hot real estate market. You may understand the appeal if you visit the state.
New Hampshire doesn’t have big cities like New York or Boston. But homebuyers who have been priced out of those cities or don’t have the temperament for the hustle and bustle consider that a bonus.
New Hampshire has a lot to offer the right homebuyers. Sitting on the northern border of Massachusetts, New Hampshire has several real estate markets a few hours’ drive from Boston, which is also accessible by train. That gives some New Hampshire residents the option of earning big-city salaries in Boston while enjoying a slow-paced, small-town lifestyle off the job.
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Prospective homebuyers will find many pleasant, small to medium-sized towns, many of which look like they belong in a Norman Rockwell painting. In that sense, a trip to New Hampshire is like diving into America’s past. The state has numerous communities where children grow up attending the same elementary school, junior high school and high school.
It is also statistically one of the safest states in America. In 2023, New Hampshire registered roughly 2,400 crimes per 100,000 residents — the lowest rate in the country. Nature lovers will enjoy New Hampshire’s White Mountain National Forest, and Vermont’s ski resorts are just a few hours from most of the state’s population centers.
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One thing to consider is New Hampshire’s location in the Northeast, which has cold winters that linger a few months longer than sunshine lovers might like. The plus side is New Hampshire residents enjoy relatively mild summers compared to the oppressive heat that bedevils the Mid-Atlantic and Southeast regions of the U.S.
Sports fans have major professional franchises such as the Celtics, Patriots and Bruins just a few hours south in Boston.
Put it all together, and it’s easier to understand why New Hampshire real estate prices are surging. Zillow shows the average home price in New Hampshire is $465,000, which represents an 8.7% increase in the last 12 months. That upward trend looks set to continue for the time being. Best of all, New Hampshire’s $465,000 average price is in line with the national average of $417,000 and considerably less than Boston’s $741,000.
New Hampshire has expensive areas, but there is still affordability in many markets. Buyers are starting to recognize all that the state has to offer, which is causing inventory levels to drop. New Hampshire real estate is worth a look for any investor or prospective homebuyer.
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This article This New England State Is One Of America’s Hottest Housing Markets originally appeared on Benzinga.com
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