March and April 2023 County Data - NH

[Andrew Bosco]

Hey everyone,

Big update - I have all multi-family county data available in NH now. This report will show the last 2 months worth of data of what has sold on the MLS. There's quite a bit of data, so I split this as the southern half of the state and then central/northern. Some notes; variance = % difference of sold price vs. listing price. High variance = overbid and low variance = underbid.

If you want to see anything specific, then shoot me a PM!

Summary: Low inventory (per usual) and lower sales volume than previous year High desirability continues in Hillsborough, Rockingham and Strafford County. Cheshire and Rockingham sell a large majority of 3 units for those looking for 3+ units. In southern NH, cost per units in Cheshire and Stafford show high affordability. In Central/Northern, NH the combination of underbidding even with lack of inventory shows a good chance to buy a multi with less cash than other areas.

Avg DOM & Variance This is pretty unique actually. April - we don’t see much for AVG DOM because the AVG was so low, so the system didn’t calculate the days. I was visually seeing less than 7 days for all relevant counties. That’s showing some high desirability and buyers getting out there. As for variance, Cheshire County continues

2 Unit Overview Hillsborough will continue to dominate the inventory game with sheer mass vs. other countries. Between March and April - only 14 properties have sold in Hillsborough, which goes to show you the lack of inventory. That said, the average cost for a Hillsborough 2 unit has sold around 194-222K. There’s much less inventory in other areas, but the affordability of a 2 unit seems to be in Merrimack County within the same general region.

3 Unit Overview There has been a nice spread of 3 units sold in April between the major inventory markets of Hillsborough, Rockingham and Strafford. Rockingham continues to be the most expensive, but also the highest appreciation market (shared previously on other posts). Strafford county looks like a stellar 3 unit buy location and with close proximity to Rockingham, could be a great area to buy.

4 Unit Overview Between 5-7 4-units were sold each month across the whole state. The data will be a bit skewed because of that low inventory. Same pattern though - Rockingham is high priced whereas other areas show a cheaper value to buy ratio. The Carroll County price is high due to a turn-key sale of a 4 unit. Otherwise, in southern NH, 4 units stick around the 135K mark and in northern NH, 4-units sell for around the 100K mark.

5 Southern NH County Sales Overview Classic case here for Southern, NH - sales are down this year. Less inventory. Most areas sell 2 families, but 3 units seem to be more common in recent sales in Rockingham, Cheshire and Strafford.

5 Central/Northern NH County Sales Overview Same thing here in Northern/Central NH - sales are down from the former year. Belknap seems to be a good area for sheer quantity and price point for 3-4 units. Commercial properties are also present in Grafton vs. other areas (again, limited inventory).