Vol.42, No.01
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W E E K O F M O N D A Y, J A N U A R Y 6 , 2 0 2 0
THE REGISTRY REVIEW NEW HAMPSHIRE’S STATEWIDE REAL ESTATE & FINANCIAL NEWSPAPER A Publication of The Warren Group
WEEKLY SALES OF NOTE
2020 VISION
Durham 24 MADBURY RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . $23,810,000 B: Torrington Malden One LLC & UEP Living LLC S: Orion UNH Edge LLC Mtg: Peoples United Bank $37,795,000 Use: Apartment Bldg - 9 + Units, Lot: 56628sf
What’s Ahead for Residential Real Estate? Housing Market Poised for Steady Price Appreciation BY JAMES SANNA
Durham
REGISTRY REVIEW STAFF
29 MAIN ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $19,840,000 B: Torrington Malden One LLC & UEP Living LLC S: Orion Unh Edge LLC
Keene 69 ISLAND ST U:4A. . . . . . . . . . . . . . . . . . . . . . . . . . . $5,200,000 B: Keene Island Holdings LLC S: Island Mill Realty Group Use: Condo
Portsmouth 25 MAPLEWOOD AVE. . . . . . . . . . . . . . . . . . . . . . . . . $3,029,000 B: 25 Maplewood Avenue LLC S: Providence Bank Mtg: Provident Bank $9,500,000 Use: Commercial Devlpble Land, Lot: 11023sf 25 MAPLEWOOD AVE U:201. . . . . . . . . . . . . . . . . . . . $2,566,200 B: Provident Bank S: 25 Maplewood Avenue LLC
Lincoln 50 MAIN ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,950,000 B: First Tracks Real Estate S: BR 801 Real Estate Inv Mtg: Bank of New Hampshire $1,560,000 Use: Retail-department Store, Lot: 60548sf
New Durham 23 NEWPORT DR. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,435,000 B: Robert S Saunders & Julie T Saunders S: Charles T Todd Jr & Laurene Meberg-Todd Use: 3 Bdrm Contemporary, Lot: 217800sf
Wolfeboro 3 WYANOKE GATE LN. . . . . . . . . . . . . . . . . . . . . . . . . $1,300,000 B: Brian Hughes & Caitlin Hughes S: Robert B Bennett Tr, Tr for Robert B Bennett T Mtg: Meredith Vlg Svgs Bk $1,040,000 Use: 1 Bdrm Ranch, Lot: 60113sf
Amherst 106 CHESTNUT HILL RD. . . . . . . . . . . . . . . . . . . . . . . $1,270,000 B: Christopher A Vuich Tr, Tr for Chris&Lisa Vuich T S: Kenneth R Dionne Tr, Tr for Dionne RET Mtg: Radius Financial Grp $1,016,000 Use: 4 Bdrm Ranch, Lot: 606355sf
Conway 711 STRITCH RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,250,000 B: Deirdre Soraci Tr, Tr for Deirdre Soraci RET S: Russell L Canavari & Branda L Canavari
S
teady as she goes. That’s the order of the day for residential real estate statewide, marketwatchers say, as the economy stays strong, interest rates look set to stay low and smaller homes remain the focus of demand for many buyers. First-time homebuyers squared off against downsizing empty-nesters and second home buyers across New Hampshire throughout 2019, with the former often losing out, said Dan O’Halloran, broker and owner of the O’Halloran Group in New London and the 2019 president of New Hampshire Realtors. “You’ll get a first-time buyer who’ll spend a couple hundred on a house or maybe up to $300,000 and they’ll put 5 percent down,” he said. “ Retirees will be coming in and putting in a lot of money down or all cash. They’re beating out the younger buyers, the workforce we need to attract.”
Boomers Beat Out Millennials Neither O’Halloran nor Ignatius MacLellan, managing director of the New Hampshire Housing Finance Agency’s homeownership division, see this state of affairs changing much in 2020. “In a multiple offer situation, folks who are better off financially, folks who have recently sold a home have the cash to be successful in purchasing a home. That’s really hard for first-
$320,000 320000
INDEX
$300,000 300000
TRANSACTIONS THRU
3 Belknap ���������������������������� 12/24/19 4 Carroll ���������������������������� 12/24/19 4 Cheshire ������������������������ 12/24/19 5 Coos �������������������������������� 12/24/19 5 Grafton ���������������������������� 12/24/19 6 Hillsborough ������������������ 12/24/19 9 Merrimack ���������������������� 12/24/19 10 Rockingham ������������������ 12/24/19 12 Strafford ������������������������ 12/24/19 13 Sullivan �������������������������� 12/24/19 13 Bankruptcies 14 Lien & Attachments 14 Foreclosure, Mortgagee & Other Lien Auctions 14 Requests for Bids & Proposals
to the latest data from The Warren Group, publisher of The Registry Review. “I think about what happens to hardworking people when the rents are so high. Now, the majority of people who come into food pantries [where he volunteers] are working full time,” he added. “With this shortage there are real personal impacts that we can’t forget.” Another trend to watch, MacLellan said, is decreasing appetite for fixer-upper homes, particularly among Millennial buyers. Still, it’s not yet a universal truth, O’Halloran said.
$280,000 280000 $260,000 260000 $240,000 240000
Nov. Dec. Dec. Jan. Jan. Feb. Feb. Mar. Mar. Apr. Apr. May May June June July July Aug. Aug. Sept. Sept. Oct. Oct. Nov. Nov. Nov. ’18
’19
Number 300000 of Sales $300,000 280000 $280,000
Year
Median Price
Change Prior Year
260000 $260,000
Nov. 2015
$219,267
3.70%
240000 $240,000
Nov. 2016
$235,000
7.18%
220000 $220,000
Nov. 2017
$254,000
8.09%
Nov. 2018
$270,000
6.30%
Nov. 2019
$288,000
6.67%
200000 $200,000
Nov.
Nov. ’15
Nov.
Nov. ’16
Nov.
Nov. ’17
Nov.
Nov. ’18
Nov.
Nov. ’19
Continued on Page 16
TO OUR READERS
T
Single-Family Median Sales Price
ROUTE 101A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,200,000 B: S&E Amherst LLC S: John Lee Tr, Tr for R&P Nevada T
REAL ESTATE RECORDS
time homebuyers to beat,” MacLellan said, adding that it has even happened to younger members of NHHFA’s staff. The main problem, both say, is that retirees and first-time buyers tend to want the same product: a smaller one- or two-bedroom house that might cost between $150,000 and $300,000, depending on the local market. The number of listings priced below $300,000 has decreased 65 percent in the last five years, MacLellan said, while the number of homes for sale above $300,000 has stayed relatively constant. The median state-wide single-family sale price was $285,000 as of Nov. 30, according
NEW HAMPSHIRE MARKET STATISTICS
Amherst
PG COUNTY
With strong demand for more housing – from buyers moving into New Hampshire, from Millennials aging into the homebuying population and from downsizing Baby Boomers – expect prices to keep appreciating.
q Statistics based on single-family home sales of $1,000 q Source: The Warren Group
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