Manchester and Berlin set records last month for the highest median house prices, but Realtor Greg Powers is seeing more softening in asking prices.
"We have seen a lot more price reductions over the last month to month and a half" in the state's southern tier, Powers said Thursday.
The statewide median price rose 4.6% over the past year to $501,000 in October, but that was down $39,000 from June's record peak, according to figures from the New Hampshire Realtors.
"We are seeing incrementally more listings coming on the market and I think buyers are more aware of that, so they have gotten more patient," said Powers, a Realtor with Keller Williams Realty Metropolitan in Bedford.
The number of homes for sale has jumped 28.5% over the past three years, with more than 2,350 on the market last month -- 523 more than in October 2021.
North Hampton saw its most expensive home sale ever last month for nearly $10.5 million. The ocean view 1885 mansion sits on more than an acre of land along Ocean Boulevard, contains nearly a dozen bathrooms and boasts a sprawling 13,449 square feet, according to the Seacoast Board of Realtors.
The greater Seacoast group reported that real estate agents closed seven housing deals priced at or below $400,000 in October, the most since May 2023.
"If there is any trend, I suspect prices are moderating and days on the market are taking a little longer," said John Rice, a Realtor and chief statistician for the Seacoast Board of Realtors.
Manchester's median home price of $467,500 was nearly 17% higher than a year ago.
Last spring, about two of every three homes for sale in Manchester were under contract. That has dropped to just over half this week, meaning more homes available on the market, Powers said.
"It just means the demand is softening," he said.
Prices continue to increase in some areas, such as Manchester, because there still aren't enough homes for sale, he said.
There were 61 homes for sale last month compared to 57 a year earlier and 90 in October 2022, according to the New Hampshire Realtors.
Berlin's median price hit $248,138, nearly 17% higher.
Carroll County was the only one of the state's 10 counties to see a drop in prices year-over-year, $50,000 lower to $475,000 last month.
Hillsborough County rose 2% to $510,000 last month while Rockingham County eked out a $3,000 increase to $628,000.
Nashua's median price rose $9,000 to $514,000. Bedford climbed 11% higher to $682,500.
On the flip side, Franklin saw a $10,000 drop to $380,000 and Atkinson recorded a $50,000 drop to $625,000.
Interest rates had dropped to nearly 6% in late September and have climbed again to 6.72% on Halloween, but better than 7.76% a year earlier.
Powers said he hasn't noticed much difference in the number of buyers with interest rates generally in the 6 to 7% range in recent months.