As we look ahead to the winter real estate market in New Hampshire’s Lakes Region and beyond, a number of converging trends suggest that while the market remains active, its character is shifting. Below is a short breakdown of what sellers, buyers, and investors should keep in mind.
🔍 Key Trends to Watch
- Still a seller’s market — but with signs of moderation
Statewide, the median price of single‐family homes in New Hampshire recently reached around $550,000 in August. NH Business Review+2Real Estate Partners+2 Inventory remains very low by historic standards — in March 2025 the state was reported to have just about 1.2 months’ supply. Real Estate Partners+1
Yet, there’s evidence of a slight softening: inventory is slowly rising, days on market are creeping up, and some price reductions are appearing. Real Estate Partners+1
In the Lakes Region specifically, large demand remains for waterfront and second-home properties, but higher‐end non-waterfront homes are showing slower movement. Roche Realty Group+1 - Inventory creep + more time for buyers
The number of active listings has increased year‐over‐year. For example, one report highlighted a 20.9% increase in listings by August 2025 compared to the year prior. New Hampshire Home Searches+1
This does not mean buyers are back in full control — demand still outpaces supply — but it does mean that buyers may have a bit more breathing room than in the frenzy years of 2020-22. - Pricing dynamics depend heavily on location, condition, and type of home
- Waterfront, lake access, and “lock-and-leave” second homes in the Lakes Region are still moving relatively quickly. Trade Secrets+1
- On the other hand, luxury properties and non-prime locations are taking longer to sell; there are reports of median list-to-sales price discrepancies. Roche Realty Group
- Overall price growth continues, albeit more modestly. One forecast for the state predicted home prices could grow ~3.7% in 2025, after a ~4% gain in 2024. pageinnisrealestate.com
- Affordability and interest rates remain headwinds
Mortgage interest rates remain elevated, which reduces purchasing power and may slow sales at the margin. Meanwhile, affordability is increasingly a challenge in the Lakes Region: one article noted that for a “starter home” the monthly payment and required income have climbed dramatically. The Laconia Daily Sun
For many, the market is still tilted toward well-qualified buyers with more flexibility.
📍 What Winter Might Look Like in the Lakes Region
- Sellers: If you’re listing a lake-access home or one in a prime Lakes Region town (e.g., Meredith, New Hampshire, Wolfeboro, New Hampshire), you’re still in a favourable position—but setting the right price, staging, and marketing will be more important than before. Properties overpriced for the market are likely to linger.
- Buyers: While competition remains, there’s slightly less frantic bidding than in the peak “remote-work / pandemic” boom years. If you’re ready and prequalified, you may find opportunities in well-positioned homes that have been on the market a bit longer.
- Investors and second-home buyers: The Lakes Region still attracts out-of-state interest, especially for waterfront and vacation-style properties. But with growing inventory and some latent price resistance, deals may require more nuance: look for homes needing light renovation, ones given longer days on market, or consider off-peak listings.
- Regional spillover: Beyond the Lakes Region, in more rural or inland parts of the state, expect slower movement and greater sensitivity to pricing. Homes in less‐desirable locations may face more competition from sellers and longer time to sell.
✅ Final Word: Strategy for Winter
- For sellers: Price realistically and be prepared for a slightly longer time on market. Premium features (waterfront, quality finishes, turnkey condition) will still command strong attention.
- For buyers: Enter with pre-approval, act decisively when you find a home that meets your criteria, but know you may have more time to negotiate (or to wait for the next good listing).
- For everyone: Keep an eye on interest rate movements and inventory trends. Even small shifts can impact home-buying calculus in the coming months.