Archive for the 'Condos for sale Hanover NH' Category

Real Estate Stats for Hanover NH

The Hanover NH real estate market is starting to show improvement in the first couple of months of 2010.  The following statistics are taken from the Multiple Listing Service.

In the 1^st 2 months of 2010 the number of single family homes sold in Hanover NH are up by 65% from the same period in 2009 ( 9 in ’10 – 4 in ’09). The other good news is that the average selling price was up 30% ($580,825 in ’10 – $402,000 in ’09). The average days on market was up 11% (112 in ’10 – 99 in ’09). The challenge continues to be in the homes over $1,000.000.

In the 1^st 2 months of 2010 the number of condominium sold in Hanover NH was down 25% from the same period last year (6 in ’10 – 8 in ’09).  The average selling price in down 18% from ’09 ($304,167 in ’10 – $372,898 in ’09). The average days on market was up 15% (339 in ’10 – 287 in ’09).

More later on Lebanon Home & Condo sales!

Carol

Recently I spoke with Miro Weinberger about phase two of Gile Hill project now under construction and targeted for occupancy in early 2010.  Miro is one of the principals of the Hartland Group and has been the driving force behind the development. Gile Hill is located in Hanover, New Hampshire on Medical Center Drive which is the access road for the Dartmouth Hitchcock Medical Center.

It was interesting to hear from Miro how the Hartland Group has adapted their plans as the economy and housing market have changed over the past year.  The most significant change is that Estes & Gallop of Lyme NH has replaced Trumbull Nelson of Hanover NH as the general contractor for the project. Miro indicated that rebidding the buildings in 2009, along with a better understanding of what consumer’s value, will help them deliver a better product well suited for the market in 2010. (more…)

Sales for Condominiums in Lebanon NH

The following statistics are from the Multiple Listing Service (MLS).

The Condo market in Lebanon NH has not faired well in the ¾ Quarter.  Sales are down by 42% (33 in ’08 to 14 in ’09).  The average sale price is about the same ($181,135 in ’08 to $182.025 in ’09).  New Condo listings are up 37% (12 in ’08 to 19 in ’09).  It seems that more first-time home buyers are opting for single family homes instead of condos.

There seems to be a number of older condos that are competing with new developments that are cutting pricing or offering concessions for up-grades……

More Later!  Carol & Matt

The Hanover NH Condo Market

The condo market in Hanover NH has faired well through the current economic downturn. The number of closed units for the 3^rd quarter is up 49% (10 in ’08 to 19 in ’09).  The average selling price is down 13% ($279,780 in ’08 to $242,758 in ’09).

This information leads me to believe that the 1^st Time Home Buyer Tax Credit continues to drive the sales of condominiums in  Hanover NH and the rest of the Upper Valley.

More to come! Carol & Matt

54 DAYS AND COUNTING

Time is running out for 1^st time home buyers to take advantage of the $8,000 tax credit. To qualify, home buyers must complete the purchase of their home before December 1^st 2009! This is a great the opportunity to purchase a single family home in the Hanover and Lebanon NH area.

The IRS has recently issued a news release which reviews the qualifications for the 1^st time home buyer credit. Other resources that explain in detail include a You Tube Video and a First-Time Homebuyer Credit website. (more…)