It’s been a great summer, and the days have flown by. Can you believe it’s already Labor Day Weekend?
On a positive note, summer officially ends on the Autumnal Equinox, Monday, September 22nd. That’s good news, as it usually translates into one of the best times to enjoy all New Hampshire’s Lakes Region has to offer.
Real Estate Trends We’ve Seen This Season
Manchester-Nashua Market Tops the Nation
Manchester-Nashua, New Hampshire was ranked the #1 housing market in the country this summer (2025) by the Wall Street Journal and Realtor.com.
The ranking was based on quality of life and projected home price appreciation.
Among 200 metro areas evaluated, Manchester-Nashua took the top spot.
Other New England rankings: Springfield, MA (#3), New Haven, CT (#5), Worcester, MA (#7), Hartford, CT (#10).
New Hampshire Housing Prices: Cooling but Still High
According to the New Hampshire Association of Realtors, the median single-family home price hit an all-time high of $566,250 in June 2025, up 4.9% from June 2024’s record of $540,000.
By comparison, June 2020–2021 saw a massive 22.9% increase, so today’s market is showing signs of cooling after years of record-breaking growth.
Strong counties: Grafton, Belknap, Carroll, and Cheshire.
Factors keeping prices high: Low inventory and elevated interest rates.
Slight interest rate relief may come in September.
Migration Trends Into New Hampshire
Remote work and retirees are fueling growth in rural counties.
High housing costs in Massachusetts continue to push buyers north.
At Roche Realty Group, we’ve sold properties this year to buyers from across the U.S.—including California, Nevada, Texas, Oregon, Florida, the Carolinas, New Mexico, New York, Rhode Island, Ohio, and Connecticut—not just Southern NH and Massachusetts.
Affordability Concerns in Massachusetts
Realtor.com notes that while much of the U.S. has more listings, Massachusetts inventory is shrinking, with prices rising further.
In 2019, only 18% of homes for sale in Massachusetts were over $1M.
By July 2025, that number doubled to 36%.
This affordability gap drives migration to New Hampshire.
Boston vs. Manchester-Nashua:
Boston: ~$804,000 typical home value.
Manchester-Nashua: ~$520,000 typical home value.
Result: Buyers see New Hampshire as a bargain compared to Greater Boston.
Younger buyers, millennials, and Gen Z face tough challenges:
Few homes below $500,000.
Burden of student loans, high rents, and car payments.
Intense competition for starter homes.
National Market Contrast
In the 50 largest U.S. metros, prices split: 28 rising vs. 22 falling in the year ending June 2025.
Markets once red-hot (Texas, Florida, Arizona, Georgia, Denver, California) are cooling or seeing concessions.
New England and the Northeast remain strong due to limited inventory and less speculative overbuilding.
Luxury Market Snapshot
Buyers of $1M+ properties now have more options and leverage than lower-tier buyers.
Regions with activity: NH Seacoast, Lakes Region, Maine coast, Vermont high-end, Cape Cod, and the Islands.
Summer through October should bring peak luxury inventory, especially during foliage season.
Lake Winnipesaukee Real Estate Sales Update
January 1 – August 26, 2025 (Islands Excluded)
Sales: 43
Median Sales Price: $2,200,000
Average Sales Price: $2,698,353
Lowest Sale: $665,000
Highest Sale: $5,952,000
Median Days on Market: 25
Average Days on Market: 67
Total Sales Volume: $116,029,200
Note: Roche Realty Group has 2 more Lake Winnipesaukee closings scheduled between 8/26–8/29 in the $2M–$3M range.
January 1 – August 26, 2024 (Islands Excluded)
Sales: 36
Median Sales Price: $2,412,500
Average Sales Price: $3,006,602
Lowest Sale: $993,000
Highest Sale: $7,050,000
Median Days on Market: 19
Average Days on Market: 39
Total Sales Volume: $108,237,703
Current Active Listings on Lake Winnipesaukee (as of 8/26/2025)
Number of Listings: 40
Median List Price: $3,447,450
Average List Price: $4,635,819
Lowest List Price: $900,000
Highest List Price: $16,950,000
Median Days on Market: 97
Average Days on Market: 132
Total Listed Volume: $185,432,799
Key Takeaways for Lake Winnipesaukee Luxury Homes
Number of sales: slight increase in 2025.
Total sales volume: up $8M over 2024.
Median sales price: down $212,500.
Average sales price: down $308,249.
Days on market: longer in 2025.
Current listings: median list price much higher than median sales price, suggesting some pricing adjustments may be ahead.
Outlook for the Lakes Region Real Estate Market
Overall, the New Hampshire Lakes Region remains strong, especially for luxury and mid-tier buyers migrating from higher-priced markets. However:
Rising interest rates continue to affect affordability.
Younger buyers face hurdles in both NH and MA.
Luxury buyers are gaining leverage with more inventory available.
Lake Winnipesaukee shows steady sales volume but slower movement at the top end.
It looks like we may be seeing a shift in the air due to broader market factors… only time will tell.
This article was written by Frank Roche. Frank is president of Roche Realty Group, located in Meredith and can be reached at (603) 279-7046. Sales Data was pulled from PrimeMLS and is subject to change. Please feel free to visit www.rocherealty.com to learn more about the Lakes Region and its real estate market.
FAQ: New Hampshire Lakes Region Real Estate
Q: Are home prices still rising in New Hampshire’s Lakes Region?
A: Yes, prices remain high due to low inventory, but growth has cooled compared to the past few years.
Q: Why are buyers moving from Massachusetts to New Hampshire?
A: Massachusetts has shrinking inventory and rising prices, with many homes now over $1M. Buyers find more value and affordability in New Hampshire.
Q: How is Lake Winnipesaukee’s luxury market performing in 2025?
A: Sales and volume are slightly higher than in 2024, but median and average prices are lower, and homes are taking longer to sell.
Q: Will interest rates drop this fall?
A: Rates remain elevated, but there is potential for a small decrease in September, which could provide slight relief for buyers.
Q: Is now a good time to buy a luxury property in the Lakes Region?
A: Luxury buyers have more options and leverage in 2025, with peak inventory expected through October.
