The Ava Gallery and Art Center, located at 11 Bank Street just off the Green in Lebanon New Hampshire, is another amazing organization that helps make life here in the Upper Valley have that “metropolitan” feel.   Who would think that an arts organization the caliber of AVA would be located in our backyard?  The fact that it does exist is a testament to the diversity of people who have chosen to call this area their home and reflects the incredible cultural depth they bring with them.  Carol and I have attended several AVA silent auctions. The art available for purchase is always interesting and exciting. Carol and I often find a piece we must have – in fact one hangs in our Hanover office.  This past Friday evening we attended an artists opening that was well attended by a wide variety of interesting Upper Valley residents.  Cocktails and finger food make the experience of mixing with the crowd and viewing works from the various artists that much more enjoyable.  After cocktails and art at AVA, we joined some friends at Elixer in White River Jct. VT and enjoyed some live music with our dinner.  Ahhh, life here is good……:-)

Matt & Carol

http://lebanonfarmersmarket.org/index.html

http://hanoverfarmersmarket.org/
http://www.norwichfarmersmarket.org/
http://states.farmersmarket.com/4001/enfield-nh

The first was at the Inn at Idlewood off rt. 132 and it is hands down one of the finest dining experiences available at any price in the Upper Valley area.  Chefs Alexandre Bird and Marcy Marceau have created a little slice of paradise that is both their home and their business in a beautiful little valley that is all their own.  A large Carriage Barn has been converted to a beautiful Post and Beam dining room and bar.  An enormous deck is available for outside dining and functions that overlooks a pretty little pond with nice views of the surrounding hills.  

The evening we were there, a man named Jack from Strafford, Vt. was playing acoustic guitar all evening, his playing was top notch and he was a pleasure to chat with.  We spent our time rambling in and out of the formal space to the deck and enjoyed watching several small children playing by the pond. 

The food, where do you start?  Appetizers were amazing, the salads were the best we all have enjoyed anywhere in the Valley and each of our entrees were delicious.  All the food was well presented by the staff who were all both attentive and enjoyable to chat with. 

The Inn at Idlewood reminds me of fine dining experiences I have enjoyed in Europe, the good news is it is only minutes away.

www.marceausfinefoods.com   Check out the link, then go and enjoy some of the best food available anywhere.

The second experience was a Church supper at the Sharon Elementary School.  It was again an unbelievably good meal and wonderful dining experience.  Roast pork basted in maple syrup, mashed potatoes, peas, gravy and a multitude of pies, cakes and cookies to choose from for desert.  It is all you can eat, and man did I eat, that pork was the best roast pork I have ever had!  It was great to sit at a table full of folks you had never met, striking up conversations as you passed the platters around.  The hard working people who put the supper on went out of their way to make sure you had everything you needed.  All this for $9/person.  I’ll go anytime they have a supper from here on out.

Stay tuned for more on the Upper Valley……. Matt & Carol

 Okay, so as of May 31^st ‘09 the MLS statistics look like this.

‘08 Lebanon: 42 home/condo sales – avg DOM 114 – avg selling price $229,760 – list/sell ratio 96%

‘09 Lebanon: 34 home/condo sales – avg DOM 151 – avg selling price $185,708 – list/sell ratio 95%

So what this seems to be telling me is that the $8000 tax credit for 1^st time home buyers is fueling the current home sales which are down by approximately 20% both in number of sales and selling price. Average DOM is up by 37.  Also, in checking out the pending sales for Lebanon it looks like a total of 31 of which most should close in June – June of ‘08 saw 59 closed sales which is a difference of almost 47% down this year.

‘08 Hanover: 25 home/condo sales – avg DOM 145 – avg selling price $590,995 – list/sell ratio 93%

‘09 Hanover: 24 home/condo sales – avg DOM 207 – avg selling price $350,649 – list/sell ration 94%

It is interesting to note that in ‘08 the #’s in Hanover were 14 homes/ 5 condos – in ‘09 it is 3 homes/14 condos which again points to a slow down in upper end homes and more 1^st time home buyers in the condo market. Gile Hill development which is on the DHMC access road has fueled much of the condo market for Hanover this year.

The average selling price is down a whooping 40% with the number of sales down 20% in all but homes sales are down almost 80% ytd……………..ouch!  Average DOM is up by 62!

In checking the pending sales for Hanover it looks like there are 9 pending sales which most should close in June ‘09- June ‘08 saw 34 closed sales which is a difference of almost 45%.

Stay tuned for the end of 2^nd quarter report…………………. Carol & Matt

Here is how things shook out in Lebanon.  Total units sold fell from 146 in 2007 to 128 in 2008 for a decline of 12%.  The median sell price fell from $233,750 in 2007 to $212,750 in 2008 for a decline of 9%.  The number of days on the market fell from 126 in 2007 to 120 in 2008, so it took a little less time in 2008 to get a 12% fewer units sold at an average of 9% lower pricing.

In the last quarter of 2007 a total of 32 units were sold, in 2008 the number dropped to 18 inQ-4!  A 44% drop in total units year to year, seems like the recession sure found Lebanon as 2008 wrapped up.  Median sell price also dropped from $223,500 in Q-4 2007 to $192,700 in Q-4 2008 or a decline of 14%.  The number of days on market increased from 116 in Q-4 of 2007 to 198 in Q-4 of 2008, a 71% increase in the time on market.

Things seem to have hit the bottom and tipped up again as we have entered 2009 in the Lebanon housing market.  The number of units sold in Q-1 of 2009 has dropped to 14 from 20 in the same period of 2008, but the decline in unit volume is only 30%.  The median sell price in 2009 Q-1 has also declined to $190,500 from $222,500 in Q-1 2008.  The bright spot is the days on market have dropped from 154 in Q-1 2008 to 141 in Q-1 2009 or an 8% faster pace.  It has also dropped when measured against Q-4 2008 of 198 DOM to Q-1 of 2009 at 141 DOM.

Meanwhile, things in Hanover look a little bit brighter as you compare year to year and a bit more gloomy as we enter 2009.  Total units sold fell from 81 in 2007 to 72 in 2008 for a decline of 11%.  The median sell price rose from $420,000 in 2007 to $450,000 in 2008 for an increase of 7%!  The number of days on the market fell from 112 in 2007 to 102 in 2008 so it took a little less time in 2008 to get a 11% fewer units sold at an average of 7% higher pricing.  That does not sound too bad…..

In the last quarter of 2007 a total of 16 units were sold, in 2008 Q-4 the number only dropped 2 units to14 in total.  Median sell price rose from $444,500 in Q-4 2007 to $460,000 in Q-4 2008 or an increase of 3%.  The number of days on market decreased from 152 in Q-4 of 2007 to 81 in Q-4 of 2008, a 47% decrease in the time on market.  Where is the recession??

Well, it seems to have come home to roost in Hanover during the 1st quarter of 2009.  The number of units sold in Q-1 of 2009 has dropped to 8 from 13 in the same period of 2008 or a decline of 38%.  The median sell price in 2009 Q-1 has also declined to $361,025 from $420,000 in Q-1 2008, a drop of 14%.  The last gloomy data is that the days on market have increased from 120 in Q-1 2008 to 217 in Q-1 2009 or an 81% slower pace!   Further validation of the slowed pace of the Hanover market can be seen in the increase in days on market from Q-4 2008 of 81 to Q-1 2009 of 217.  The inventory sure got stale in a hurry.