Lincoln, NH Real Estate
Spring Market Update
Lincoln is a picturesque and historic town located in the heart of the White Mountains of New Hampshire. Despite rising interest rates and a higher average number of days on market, over the past year, the real estate market in Lincoln has seen strong growth. Home prices have increased substantially, yet we are seeing a lot of foot traffic at open houses and multiple buyers putting in offers for properties that come on the market.
- Rising Home Prices & Mortgage Rates:
- The YTD average home sale price in Lincoln as of April 2023 is $430,545 (Data from Multiple Listing Service). This represents an increase of +11.5% over the past year. For comparison, home sale prices in the State of New Hampshire saw an average increase of only +5.0% during this same period.
- mortgage rates have stabilized over the past few months, hovering around 6%, and homes in Lincoln are selling above the list price by ~+1.3%. For comparison, the State of New Hampshire has seen home prices selling at a discount to the listing price, with an average sale-to-list ratio of only ~99%.
- The average number of days a home spends on the market in Lincoln has increased by 17 to 48 days over the past year. This decline in velocity may be driven by the higher mortgage rates, however, offers at still being made at and above list price given that buyers recognize the value and amenities that Lincoln has to offer.
30yr Fixed Rates Average in the United States (MORTGAGE30US)
One of the biggest contributing factors to the strength in Lincoln's real estate market is the expansion plans at Loon Mountain Resort. Loon Mountain Resort is investing heavily in expanding its ski terrain, adding new lifts, and automating snowmaking. Loon’s next big phase of growth involves expanding South Peak by adding 30+ new acres of terrain, a 4-person list, and more. There are also long-term plans for reputable builders, including Longfellow, Copley and Cargill Construction, to build luxury single family homes and condos that will be adjacent to these new trails, creating a unique opportunity for prospective buyers.
These expansion plans are expected to boost Lincoln popularity, attract more tourists, and potentially increase the number of vacation homes and rental properties available for year-round enjoyment in Lincoln. This should be beneficial for local businesses who rely on tourism and continue to increase the value of real estate in Lincoln & the surrounding area (e.g., Woodstock, Campton).
Availability data as of 4/22/2023
If you’re looking for someone to help guide you through the buying or selling process in Lincoln, please don’t hesitate to reach out. The team at Alpine Lakes Real Estate is committed to providing all our clients with exceptional service and making sure your real estate journey is a success.
I would be thrilled to help you take your first steps towards your dream home in the White Mountains today & hope to hear from you soon.
Alpine Lakes Real Estate
78 Main Street
Lincoln, NH 03251