Published October 10, 2026 in Market Update

Portsmouth prices eased as mortgage rates stayed above 7%

By Lais F

Real estate, Portsmouth, NH

Here is the one thing that changes how you should think about Portsmouth right now. The Real Estate Data Aggregator counted a median sale price of $790,000 in ZIP 03801 for the three months ending August 31, 2026. That is down 7.3% from the same three months a year before. Prices eased. That is worth knowing before you pick a number.

At the same time, Freddie Mac reported the 30-year fixed rate averaged 7.40% as of October 8, 2026. Realtor.com noted that mortgage rates topped 7% for the first time since January 2025. Borrowing costs are real, and buyers feel them. That is part of why fewer homes are trading hands.

Fewer sales, more choices

The Real Estate Data Aggregator counted 101 homes sold in ZIP 03801 for the three months ending August 31, 2026. That is down 25.2% from the same period a year earlier. Fewer closings, but more homes to look at. The same data shows 111 homes for sale, up 16.8% year over year, and 150 new listings, up 8.7%.

More supply and fewer buyers means sellers have less room to push on price. The Real Estate Data Aggregator put months of supply at 3.4 months, up 1.2 months from a year ago. That shift gives buyers a little more breathing room than they had last year.

Homes are taking longer to sell

The Real Estate Data Aggregator shows the median days on market was 44 days for the three months ending August 31, 2026. That is 12 days longer than the same period a year before. Not every home sat. The share that went under contract within two weeks was 45.3%, though that is down 7.3 points from a year ago. Speed still happens, but you have to earn it.

Well-priced homes still close near full ask

Even with the slowdown, the Real Estate Data Aggregator shows the average sale price came in at 99.3% of list price. That is down just 0.1 points from a year ago. And 27.7% of homes sold above list price, up 0.3 points. Sharp pricing still works. Overpriced homes are the ones sitting.

The national picture lines up

Portsmouth is not alone in this. Realtor.com reported that 20.8% of listings nationally saw price cuts in September, the highest share since October 2022. The Federal Housing Finance Agency said U.S. house prices rose just 2.6% from July 2025 to July 2026. Growth has slowed everywhere. Portsmouth's 7.3% price dip is steeper than the national trend, so local pricing matters more than ever.