Published October 6, 2026 in Market Update

Portsmouth prices fell while national prices kept rising

By Vladimir Babic

Real estate, Portsmouth, NH

The biggest fact in this market right now: Portsmouth moved in the opposite direction from the rest of the country. The Federal Housing Finance Agency reported U.S. house prices rose 2.6% from July 2025 to July 2026. In that same stretch, the Real Estate Data Aggregator counted a median sale price of $735,000 in ZIP 03801, down 16.8% from a year earlier. That is a real gap. Buyers have more room than they did last year. Sellers need to read today's market, not last year's.

All numbers below are from the Real Estate Data Aggregator for the three months ending July 31, 2026, for ZIP 03801.

Prices pulled back, but homes still sold close to asking

The median price fell 16.8% year over year. That is a meaningful drop. But the Real Estate Data Aggregator also shows the average sale price came in at 99.3% of list price. Homes sold for nearly what sellers asked. That tells you pricing discipline still matters. Set the right number and buyers show up.

More homes, fewer sales

The Real Estate Data Aggregator counted 119 homes for sale in the three months ending July 31, 2026. That is up 30.8% from a year earlier. New listings rose 9.2% too, to 154. But homes sold fell 23.5%, to 101. Supply is growing faster than demand. Months of supply rose to 3.6, up 1.5 months from a year ago. That shift gives buyers more choices and puts more weight on how a home is priced.

Rates add pressure on top of lower prices

Freddie Mac put the 30-year fixed mortgage rate at 7.28% as of October 1, 2026. Realtor.com noted rates topped 7% for the first time since January 2025. That is real carrying cost on top of a market where prices have already shifted. It is worth knowing both numbers before you set a price or make an offer.

Some homes still moved fast

Not every home sat. The Real Estate Data Aggregator shows 51.2% of Portsmouth homes went under contract within two weeks of listing. That is up 0.4 points from a year ago. And 30.7% of homes sold above list price, up 1.9 points year over year. The right home, priced right, still draws real interest.

One more thing: the numbers above cover all of ZIP 03801. One street can read very differently from the whole ZIP code. If you want to know where your block stands, reach out.