PORTLAND, ME (June 20, 2024) – Legacy Properties Sotheby’s International Realty, Maine and New Hampshire’s leading luxury property company, with offices in Portland, Kennebunk, Brunswick, Damariscotta, Camden, and Northeast Harbor, announces that with inventory at a mere 2 months’ supply, the median price for a single family residential home in New Hampshire continued to climb in May, reaching an all-time high of $525,000.
New Hampshire Monthly Indicators
Months’ supply is the length of time it would take to sell off the current inventory at the average rate of sales for the previous 12 months. A balanced market is considered between 5-7 months’ supply, a rate not seen in New Hampshire since it last hit 5 months’ supply in October 2016.
With those factors at play, affordability remains historically low. The NHAR Affordability Index in May was at 56 for the second consecutive month, meaning the state’s median household income is just 56 percent of what is necessary to qualify for the median-priced home under today’s interest rates. It’s the lowest such number for any month since NHAR began measuring affordability in 2005.
For NHAR’s full slate of market data, including our Monthly Indicators report and detailed county- and town-level reports, visit our FastStats landing page. To create your own customizable and brandable market reports, visit NHAR’s members-only InfoSparks page.
Legacy Properties Sotheby’s International Realty can be reached at 207-780-8900 and [email protected]. Legacy Properties Sotheby’s International Realty, with offices in Portland, Kennebunk, Brunswick, Damariscotta, Camden, and Northeast Harbor, is Maine and New Hampshire’s leading luxury and lifestyle property company with six offices and more than 100 agents serving Maine and New Hampshire’s coastal, lake, and mountain communities.
Offices Located at:
- 2 City Center, Portland, ME 04101 // 207.780.8900 (Greater Portland)
- 150 Port Road, Kennebunk, ME 04043 // 207.967.0934 (Southern Maine and Seacoast New Hampshire)
- 141 Maine Street, Brunswick, ME 04011 // 207.729.2820 (Mid Coast Maine)
- 170 Main Street, Damariscotta 04543 // 207.563.2775 (Boothbay Harbor, Damariscotta and Bristol Regions)
- 46 Bay View Street, Camden, ME 04843 // 207.230.1003 (Camden, Rockport, and Knox and Waldo County)
- 6 Neighborhood Road, Northeast Harbor, ME 04662 // 207.780.8900 (Mount Desert Island, Hancock and Washington County)
