Archive for the 'Housing Solutions' 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

The Hanover NH real estate market continues to be challenged by current economic factors.  That said there does seem to be a light at the end of the real estate tunnel. The following information was taken from the Multiple Listing Service.

In the 4th quarter the number of single family homes sold was down 14%from the 4th quarter of ‘08 (21 in ’08 – 18 in ’09). The good news is that the average selling price of homes was up 13% in the 4th quarter ($544,799 in’08 – $635,668 in ‘09).  Average days on market in the 4th quarter shot up to a whooping 162 in ‘09 from 91 in ‘08.

Year end numbers look a bit different……… sales of single family homes for the year was down 17% from ‘08 (115 in ‘08 – 95 in ‘09).  Average selling price was also down 17% from ‘08 ( $618,133 in ‘08 – $514,883 in ‘09)
Average days on market for ‘o9 was 155 and in ‘08 124.

One of the statistics which stands out most in the Hanover housing market is that the number of homes sold over $500,000 is down substantially (23 in ‘09 – 35 in ‘08) – in which the $500K to 1M group took the biggest hit ( 19 in ‘09 – 30 in ‘08).

More on condo sales in Hanover to come!

Carol & Matt

A client of mine called the other day with some interest in a to be built home listed at the Prospect Hills development in Lebanon.  Having read in the Valley News about the difficulties the Moulton family had encountered with their bank,  I called Melissa Robinson of Lang, McLaughry, Spera Real Estate who is marketing the project to see what the situation is today.   Melissa lives in the original Prospect Hills neighborhood and is a strong advocate for the development.  She was very open and informative, basically it boils down to the project is in bankruptcy and the judge handling the process understands that the best way to resolve the situation is to build and sell homes to generate funds for payment to creditors.   A Buyer might perceive some risk in a circumstance such as this, but as with all risk, there is often opportunity as well.  It will be interesting to see how things unfold at Prospect Hills over the next few years.

More later ……… Matt

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…)

New version of the Home Buyers Tax Credit!

For information and most asked questions this is a good article by Laura Saunders in the Wall Street Journal!

Poverty Lane Orchards

One of the great things about living here in the Hanover/Dartmouth College region is that as the seasons change, interesting seasonal foods and beverages appear for our enjoyment.  This time of year I always look forward to getting a gallon of cider made by the Patch family at Walhowden Farm in Lebanon Barbara.patch@myfairpoint.net.  They are located at 33 Walhowden Way in Lebanon, NH. A trip to their beautiful farm in the fall is a great day out.  I like their cider best of the local producers because they do not pasteurize it – they use ultraviolet light instead to kill any bacteria.  That leaves the cider with its natural tangy and clean taste; pasteurized cider tends to get a bit syrupy and loses some of the biting taste I appreciate.  (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

Sales for Lebanon NH of Single Family Homes!

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

The single family housing market in Lebanon NH has seen some marked improvement over last year.  Sales are up by 13% (46 in ’08 to 53 in ’09).  The average sale price is up 6%  ($235,111 in ’08 to $249,811 in ’09).  New listings for this quarter are up 22% (31 in ‘08 to 40 in ‘09)……..

The First-time home buyer tax credit seems to be striking again and so far it has helped the Upper Valley as a whole to ride the wave of the this recession.

More on Condo’s in Lebanon soon! Carol & Matt

Can you live without a car in the Upper Valley?

Sure, as long as you’re living in one of the core area towns it can be relatively easy thanks to Advance Transit.  Advance Transits routes are designed to link the major employers and retailers in the area with the most densely developed housing in the area.  The blue route links downtown Hanover NH with the Dartmouth Hitchcock Medical Center and downtown Lebanon NH. The red route links the shopping plazas on rt. 12A with downtown W. Lebanon NH and downtown Lebanon NH.  The brown route links Norwich VT outside of Dan & Whits and the Norwich Inn with downtown Hanover, NH and extends out to Kendall on rt. 10N linking up with both the Ray School and the Richmond Middle School for those kids who need a ride.  (more…)

Real Estate Stats for Hanover NH

The Hanover NH real estate market continues to feel the effects of the recession but the stats are starting to show some improvement. The following information was taken from the Multiple Listing Service.

In the 3^rd quarter the number of single family homes remained the same as the 3^rd quarter of ‘08 (39 in ’08 – 39 in ’09). The biggest indication of how much the bank and wall street fall outs have had on homes in Hanover NH are shown by the average selling price  – they are down 25% from the 3^rd quarter of ‘08 ($637,986 in ’08 to $476,984 in ’09).

Hanover’s Dresden School District continues to be a draw to young families in the Upper Valley.

There should be some great deals out there for homes that range from $600,000 and up!

More on condo sales in Hanover to come!

Carol & Matt