Home » New Hampshire Cities in Top Hottest Housing Markets
- ByFrank Roche
- June 12, 2024
- Roche Realty Group Blog
New Hampshire keeps showing up on the radar as one of the hottest housing markets in the country. According to Realtor.com’s May report, three New Hampshire cities were named at the top of their list for the 20 hottest markets in the USA.
The Manchester—Nashua metro area just received the #1 ranking in the USA out of 300 metros for the hottest housing market.
Also in the top 20 was Concord, New Hampshire, which was ranked as the #5 hottest housing market in the USA.
The Manchester area is no stranger to this list, as the city has ranked at the top of the list eight times in the past. The first time was in March 2021. Having grown up in Manchester it’s hard for me to believe the city would attract so much attention. During May, the median days on the market for a residential listing was only 14 days, and the median list price effective within the period was $630,000, a huge increase compared to the days when I grew up there. Even with its high median list price, The Manchester—Nashua region has continued to surge in popularity. Due to its proximity to Boston, which is less than an hour away. Also, when you look at the price differential with Manchester at $630,000 and Boston at $967,000 – $1,000,000. The affordability factor becomes significant. The other plus factors are no state income tax, sales tax, and a more relaxed quality of life.
Just 18 miles or 20 minutes up the road is Concord, with its beautiful downtown and the state capitol, great school system, shopping, and surrounding quaint rural towns. New residents can escape the sprawl of Massachusetts and be closer to New Hampshire’s lakes, mountains, and coastline.
Growing up in Manchester, the city was known for its huge former textile mills along the Merrimack River just below downtown. My mother, when she was young, worked at the Amoskeag Millyard, which later grew throughout the 19th century into the largest cotton textile plant in the world with 17,000 employees and close to 30 huge brick buildings with solid beam construction. I can remember in the 1960s, Arthur D Little Company from Cambridge, Massachusetts, performed an extensive study for the Manchester housing authority regarding the future use of the entire mill yard. At the time, my father, Atty. J. Francis Roche, was the city solicitor for Manchester, and I remember his extensive involvement with the Housing Authority, the Aldermen, and the Planning Board.
During the summer months, I worked at the City Engineering Department on the survey crew, and at one time, we did some work at the millyards. This was during the time urban renewal plans were underway in most cities. Some cities made some blatant mistakes in those years; however, Manchester’s millyards became a glowing testament to the vision of the planners to produce a wholly original work of art to repurpose those buildings.
One individual who was instrumental in the future planning of the millyards was John Grogan, who was the City of Manchester’s City Director of Planning for 23 years. I knew him well. He would many times be at my father’s law office on Hanover and Elm Street, next to City Hall. I also worked with John through the City’s Engineering Department, and he was a very smart planner who graduated from the Harvard Graduate School of Design with a master’s degree in Urban Planning. Grogan sent Manchester in the right planning direction.
If you look at the millyard and surrounding properties today, you can see how the planning vision paid off.
The largest textile mill in the world which saw its decline, is now an incubator and economic engine for so many businesses, high-tech companies, colleges, restaurants, and professional offices that serve the region.
It’s amazing to see how a struggling former textile city in New Hampshire has become one of the hottest markets in the country. A lot of the homes for sale in the area are still going into bidding wars, although not as prevalent compared to the COVID-19 pandemic. However, the bottom line is that the region has a very low housing inventory, with a lot of buyers looking for available properties.
The Realtor.com data suggests about 34% of potential buyers are coming from the Greater Boston Market, and about 21% came from the New York Metro Area, with 3% from nearby Concord. Most of the activity is from Massachusetts residents looking for more affordable homes on larger lots. Even in the Manchester millyards, some of the old buildings along the river have been turned into luxury lofts. On Elm Street downtown, there are a lot of restaurants, bars, and new shops.
The University of New Hampshire at Manchester, Southern New Hampshire University, and St. Anselm’s College are also big draws. The unemployment rate is one of the lowest in the country at 2.7%, and the median household income is much higher than the national average.
So, when you look at the above 3 cities in New Hampshire as the hottest housing markets in the country, you can see the spillover into our beautiful Lake’s Region.
As homeowners move into this state and discover the natural resources of our Lakes Region, the steady stream of cars up I-93 North continues. I just looked at the Kiplinger letter published May 30th ranking the best places to retire in New England based on the quality of life and other criteria, and guess what? Laconia, New Hampshire, was ranked as the #4 best place to retire. Laconia came out ahead of Burlington, Vermont, Providence, Rhode Island, and just behind Pittsfield, Massachusetts, and Portland, Maine.
Another PODS article named Exeter, Peterborough, and Gilford, as the three top towns to retire to in New Hampshire. The article mentioned Gilford’s scenic beauty and plenty of ways to engage in outdoor recreation and stay active all year. With Lake Winnipesaukee and Gunstock Mountain Resort in your backyard, life is good. Holderness, New Hampshire, was number 12 on the list. In other reports & studies, Meredith and Wolfeboro, New Hampshire, came out with high rankings. Meredith was named “one of the ten best small towns on the East Coast” by Travel + Leisure. In August of 2023, Travel + Leisure named Wolfeboro, New Hampshire, “the second-best small town in the United States.” The saying goes, “Life is good in New Hampshire.”
This article was written by Frank Roche. Frank is president of Roche Realty Group in Meredith, NH, and can be reached at (603) 279-7046. Please feel free to visit www.rocherealty.com to learn more about the Lakes Region and its real estate market.
- Buyers, Frank Roche, Lakes Region Real Estate, NH living, NH Towns, Roche Realty Group, Sellers
PrevPrevious ArticleSouth Down Shores and Long Bay: Market Trends
New Hampshire Cities in Top Hottest Housing Markets
June 12, 2024
New Hampshire keeps showing up on the radar as one of the hottest housing markets ...
Read More →
South Down Shores and Long Bay: Market Trends
June 7, 2024
South Down Shores and Long Bay on Lake Winnipesaukee are two very popular water access ...
Read More →
Lake House Dreaming: Make It a Reality
May 31, 2024
Owning a waterfront home in New Hampshire’s Lakes Region is a treasured experience. For many ...
Read More →
Beyond the BBQ: A Symphony of Remembrance and Summer Joy in the NH Lakes Region
May 23, 2024
Memorial Day serves as the official kick-off to summer in the Lakes Region. Towns ready ...
Read More →
Welcome to New Hampshire’s Lakes Region
May 17, 2024
New Hampshire’s Lakes Region is one of the most stunningly beautiful places in the United ...
Read More →
The Granite State: Top Spot for Relocation in 2024
May 10, 2024
New Hampshire just garnered major recognition as the best state to relocate to in 2024 ...
Read More →
Real Estate Sales Insights: Lakes Region Market Update
May 3, 2024
It’s hard to believe we’ve already churned through 4 months of 2024. I researched the ...
Read More →
Market Trends – Spring 2024
April 26, 2024
As a Realtor®, I’m always paying attention to the real estate market. I’m often asked ...
Read More →
The Historic Temperance Tavern in Gilmanton Sold
April 19, 2024
Gilmanton—According to Frank Roche of Roche Realty Group in Meredith, the historic Temperance Tavern in ...
Read More →
Balancing Needs and Wants When Buying a Home
April 12, 2024
In the current housing market, where choices are often limited, and demand frequently outstrips supply, ...
Read More →
Spotlight on Homes: New Hampshire Market Analysis
April 5, 2024
At present time, there are 1,007 single-family homes for sale in New Hampshire. The median ...
Read More →
New Hampshire Ranks High in Recent Studies
March 29, 2024
Every day in our industry, we see how rising home prices have made it more ...
Read More →
South Down Shores Barn Complex Transformation
March 22, 2024
In 1981, the transformation of Laconia’s scenic South Down Farm began, converting the former 126-acre ...
Read More →
Massachusetts and New Hampshire – a Tale of Two States
March 15, 2024
Most of my articles talk about housing, trends, home values, and the desirable lifestyle we ...
Read More →
Spring Trends in Lakes Region Properties
March 8, 2024
It’s been one of those winters, or should I say lack of winters, that we ...
Read More →
Sales Snapshot: New Hampshire’s Affordability Challenge
March 1, 2024
As we spring into March and approach our busy spring selling season, I thought I’d ...
Read More →
Gunstock: Gem of the Lakes Region
February 26, 2024
Nestled among the stoic peaks of the Belknap Mountain range in the heart of New ...
Read More →
Roche Realty Group Announces Top Producers for 2023
February 16, 2024
Meredith —Frank Roche, president of Roche Realty Group, announced the top five producers for the ...
Read More →
AI and the Future of Real Estate
February 9, 2024
Imagine, if you will, looking at a mysterious picture box filled with a whole world ...
Read More →
Prices Rise Ahead of Super Bowl Sunday
February 2, 2024
We’ve got a great match coming up for this year’s Super Bowl…The 49ers vs. the ...
Read More →
Smart Moves in Condominium Ownership
January 26, 2024
Here in the Lakes Region, a good part of our residential housing inventory is in ...
Read More →
Land Sales Unveiled: New Hampshire’s 2023 Market
January 18, 2024
New Hampshire The Granite State… true to its motto, “Live Free or Die”, which encapsulates ...
Read More →
Exploring Cash Sales Dynamics in Lakes Region Real Estate
January 12, 2024
I was at a sales meeting at Roche Realty Group the other day, and we ...
Read More →
Roche Realty Group Reports Over $150 Million in Sales
January 5, 2024
Meredith-Frank Roche, President of Roche Realty Group, Inc., ...
Read More →
Lincoln, New Hampshire: From Mill Town to Ski Destination
December 28, 2023
Tucked in the heart of New Hampshire, sprawling across 131 square miles of varied terrain, ...
Read More →
Celebrating the Spirit of “Giving” in the Lakes Region
December 21, 2023
Nestled in the picturesque landscapes of New Hampshire, the Lakes Region stands out not only ...
Read More →
Real Estate’s Future: The Impact of AI
December 15, 2023
The other day, I was talking with my son Chris about the changes in the ...
Read More →
Lakes Region Waterfront Sales 2022 vs. 2023
December 7, 2023
We’re getting near the end of the year, and I thought I would pull up ...
Read More →
Real Estate in a Winter Wonderland
December 6, 2023
As I drove around the other day with my kids, I was looking at some ...
Read More →
Roche Realty Host Annual Toys for Tots Drive
December 6, 2023
As the holiday season approaches, Roche Realty Group is excited to announce the kickoff of ...
Read More →
Small Business Saturday Living Gratefully in New Hampshire
December 6, 2023
We have so many things to be thankful for here in New Hampshire: plenty of ...
Read More →
Annie Brown Joins Roche Realty Group
November 16, 2023
Meredith — Frank Roche, President of Roche Realty Group, Inc., with offices in Meredith and ...
Read More →
Gunstock Upgrades for Winter as Real Estate Shows Resilient Growth
November 10, 2023
As the leaves of New Hampshire’s forests transition from the vibrant hues of fall to ...
Read More →
Preserving New Hampshire’s Lakes: A Community Effort
November 3, 2023
With over 250 lakes and ponds throughout New Hampshire’s Lakes Region, there are unlimited outdoor ...
Read More →
The Uninspected Home: A Spine-chilling Tale of Regret and Terror!
October 27, 2023
One night, not many years ago, in a quaint, somber town nestled amidst the haunting ...
Read More →
Interest Rates Impacted by Treasury Yields
October 20, 2023
It looks like the national picture for housing stats has not improved in recent months; ...
Read More →
Local Housing Crisis: Challenges and Solutions
October 13, 2023
Our communities are facing a shortage of both residential and commercial properties, a scenario that’s ...
Read More →
Fall Splendor in New Hampshire
October 5, 2023
New Hampshire in the fall is akin to stepping into a live canvas painting — ...
Read More →
Condominium Sales Surge in New Hampshire’s Lakes Region!
September 29, 2023
As we start entering October’s bright fall colors, I thought I’d take a look at ...
Read More →
Empower Your Offer in a Sizzling Real Estate Market!
September 22, 2023
As a seasoned real estate professional, I often consider the market conditions to keep myself, ...
Read More →
Reviews of New Hampshire’s Lakes Region
September 14, 2023
We’ve had a great summer in New Hampshire’s Lakes Region, and we’re approaching the brilliant ...
Read More →
Waterfront Sales Activity in the Lakes Region
September 6, 2023
As we head into September, I have compiled data and insight into what is happening ...
Read More →
Labor Day Weekend in The Lakes Region
August 31, 2023
Labor Day Weekend has arrived, and the weather forecast for the Lakes Region looks fantastic, ...
Read More →
The Mortgage Interest Rate Dilemma
August 25, 2023
This past week, we saw an increase in mortgage rates following a rise in bond ...
Read More →
New Hampshire 3rd Best State To Live In!
August 18, 2023
WalletHub just released its rankings of the best state to live in for 2023. It’s ...
Read More →
City/Town Comparison For Your Move
August 9, 2023
Some studies place moving to a new location as one of the top ten most ...
Read More →
New Hampshire Real Estate Inventory Crisis
August 4, 2023
A Multifaceted Analysis of Rising Interest Rates and Beyond New Hampshire is currently facing a ...
Read More →
Exploring the Peaks of New England
July 27, 2023
In my younger years in school, I always loved geography. Living in New Hampshire, there ...
Read More →
Climate Exodus: Insurers’ Fleeing High-Risk States
July 21, 2023
Flooding, Forest Fires, Heat Waves, Tornados, oh my! The recent stretch of weather has certainly ...
Read More →
Real Estate Tidbits to Consider
July 14, 2023
Here are a few real estate tidbits I’ve pulled to keep you up to speed ...
Read More →