An In-Depth Look Into Manchester, NH’s Housing Market

Disclaimer: PropStream does not offer investing advice or make profit promises. This article is for educational purposes only. We recommend consulting financial professionals and/or doing your due diligence before working or investing in the Manchester, NH real estate market.

Manchester, New Hampshire (NH), was recently named the country’s hottest housing market for the 32nd time since mid-2017. The designation is based on the number of property listing views the market gets on Realtor.com and how fast homes sell.

In January 2025, Manchester property listings were viewed 3.6 times more than the national average, while listings stayed on the market for a median of 46 days, compared to 73 nationally.

So what’s driving buyer interest in Manchester real estate? And why is the market so active? Read on to find out and learn what this means for real estate professionals like you.

Manchester, NH Housing Market Snapshot

To better understand the Manchester, NH housing market, let’s dive into the most recent data.

In March 2025, the median home listing price in Manchester was $564,900, up 2.73% from last year. That’s $140,000 more than the national median listing price, indicating that buyers put a premium on living in Manchester and/or its home supply is particularly limited. Given the influx of people moving to New Hampshire and the statewide housing shortage, it’s likely both.

Case in point: There were only 269 active Manchester home listings in March 2025. That’s up 28% from last year but still low compared to historical inventory levels, especially for a metro with 178,687 housing units. Meanwhile, Manchester’s population is growing, putting upward pressure on home prices from the demand side.

As a result, Manchester home sales are moving quickly. In March 2025, the median number of days a listing sat on the market was 30, which is 23 fewer days than the national median (53).

Market Forecast for Manchester, NH Real Estate

Moving forward, Manchester’s home values are likely to keep rising due to persistent housing demand and lagging supply.

Based on population growth estimates, New Hampshire needs nearly 60,000 more housing units between 2020 and 2030 and nearly 90,000 more units between 2020 and 2040. Unless home construction significantly picks up, these new housing units are unlikely to materialize. In 2023, the state only authorized 4,555 building permits.

Meanwhile, demand for housing in Manchester is unlikely to soften anytime soon. The city’s proximity to Boston, the Atlantic Ocean, and outdoor recreation makes it highly sought after. Plus, millennials, America’s largest generation, are in their prime homebuying years, though they’ve lagged behind previous generations in becoming homeowners. As they age, more millennials will want to settle down and buy homes.

Furthermore, many potential homebuyers have been sidelined by high mortgage rates. The average 30-year fixed mortgage rate went from around 2-3% in 2021 to nearly 8% in 2023. Since then, it’s hovered in the 6-7% range. However, if mortgage rates fall this year, buyers will be able to afford more, drawing more of them into the market and putting upward pressure on home prices.

In short, demand for Manchester housing is likely to continue outpacing supply, resulting in a seller’s market for the foreseeable future.

6 Reasons to Work or Invest In Manchester, NH Real Estate

Now that you know the state of the Manchester housing market and where it could be headed, let’s explore the top reasons to work or invest here:

Population growth. The Manchester metro area has grown steadily since 2010. In 2024, it was home to 430,462 residents, up from 417,738 in 2019 (a 3% jump in five years). Furthermore, New Hampshire as a whole is growing, with inbound migration accounting for 51.5% of all migration in 2024. This boosts housing demand, driving up home values over time.

Proximity to Boston. An hour’s drive from Boston, Manchester is an attractive place to live for commuters and those who want to be close to all the arts, entertainment, and amenities Boston offers. As a result, Manchester is likely to have steady housing demand for a long time.

No state sales or income tax. Unlike most states, New Hampshire doesn’t have a broad-based state sales or income tax. This not only attracts businesses and homeowners but also allows you to keep more of your business or investment earnings.

Booming economy. The Manchester economy has taken off in recent years. The metro’s gross domestic product (GDP) went from $28.6 billion in 2020 to $36.6 billion in 2023. Meanwhile, the unemployment rate in January 2025 was 3.7%, below the U.S. rate of 4.4%. The metro’s top industries include tech, communications, financial services, and healthcare.

Outdoor recreation. Manchester offers several outdoor recreational opportunities, including 47 parks, a ski area, a 116-acre golf course, six ponds, and more. The city is also next to Massabesic Lake and Bear Brook State Park, and less than an hour from the Atlantic Ocean.

Transportation options. Getting around in Manchester is fairly easy. The Manchester Transit Authority (MTA) bus system is well-connected for intra-city travel, and the city’s Manchester-Boston Regional Airport is convenient for long-distance travel.

Find Your Next Manchester, NH Property with PropStream

Whether you’re looking to work in the Manchester, NH market as a real estate agent or investor, PropStream is your must-use tool for lead generation and outreach. Our database of over 165 million properties nationwide can help you find leads, motivated sellers, and uncover new market insights.

For example, our 20 lead lists make it easy to find pre-foreclosure, tax-delinquent, and other ownership situations and get updated anytime a new property meets your search criteria.

Notes on Data:

• Manchester, NH, and U.S. real estate data taken from Realtor.com® Economic Research (unless otherwise cited)
• Manchester, NH population data taken from the U.S. Census Bureau via FRED®