The Registry Review: May 2, 2022

Page 1

Vol.44, No.18

www.thewarrengroup.com

W E E K O F M O N D A Y, M A Y 2 , 2 0 2 2

THE REGISTRY REVIEW NEW HAMPSHIRE’S STATEWIDE REAL ESTATE & FINANCIAL NEWSPAPER A Publication of The Warren Group

WEEKLY SALES OF NOTE

HEMMED IN

Manchester

655 S WILLOW ST U: 1 & 3. . . . . . . . . . . . . . . . . . . . $19,500,000 B: Prime Storage Manchester LLC S: 655 South Willow LLC

Hanover

29 ROPE FERRY RD. . . . . . . . . . . . . . . . . . . . . . . . . . . $5,062,533 B: Liam P Caffrey Tr, Tr for Liam P Caffrey RET S: Robin S Wolpow & Marc B Wolpow Mtg: JPMorgan Chase Bank $3,360,000 Use: Residential-multiple Bldgs, Lot: 53579sf

Lebanon

Lebanon Looks to Act on Housing Shortage City to Focus on Workforce, ‘Missing Middle’ Construction BY JAMES SANNA REGISTRY REVIEW STAFF

92 NH ROUTE 4A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,250,000 B: Lake Mascoma RV LLC S: Goyettes Campground LLC Mtg: Bank of New Hampshire $2,320,000 Use: Mixed Use-prim Comm & Other, Lot: 1378674sf

Hampton

26 C ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,000,000 B: Mile Zero LLC S: Seawalk Enterprises LLC Mtg: Lowell Five Cent Svgs $1,800,000 Use: 1 Bdrm Condo, Lot: 20331sf

Hooksett

400 TECHNOLOGY DR. . . . . . . . . . . . . . . . . . . . . . . . . $2,000,000 B: Richmond Tech Drive LLC S: Sharon&Beth Dev LLC Mtg: Sharon&Beth Dev LLC $1,600,000 Use: Commercial Devlpble Land, Lot: 2792632sf

Salem

12 ARLINGTON POND CT . . . . . . . . . . . . . . . . . . . . . . $1,850,000 B: Salem Shores Properties LLC S: David A Devito & Kimberly A Devito Mtg: Enterprise Bk & Tr Co $1,100,000 Use: 4 Bdrm Contemporary, Lot: 51836sf

Wolfeboro

NARY SHORE RD L:C. . . . . . . . . . . . . . . . . . . . . . . . . . $1,795,000 B: Matthew N Rhyner & Corinne K Rhyner S: Curtin Violet A Est & Beth A Bysheim

Hampton

1076 OCEAN BLVD . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,550,000 B: Christopher H Sawyer S: Adele B Baker Tr, Tr for Adele B Baker RET Mtg: Mortgage Networks Inc $1,150,000 Use: 5 Bdrm Conventional, Lot: 6534sf

Carroll

9 MOUNT MADISON LN U:3 . . . . . . . . . . . . . . . . . . . . $1,537,333 B: JKB Bretton Woods LLC S: William R Cargill Jr & Alicia W Cargill Use: 5 Bdrm Condo, Lot: 609840sf

Rye

4 HIGHLAND PARK AVENUE. . . . . . . . . . . . . . . . . . . . $1,500,000 B: John A Federico S: Colleen L Duffy & Michael Duffy

A

nxious about the ever-higher cost of housing in the Upper Connecticut Valley, city officials in Lebanon are debating how they can take more aggressive action to address it. Under consideration: zoning reforms, an affordable housing demonstration project in cooperation with a developer or the local housing authority and changes to encourage more accessory dwelling unit construction. “My fear for our economy and for our employers is that we will lose some of that talent as it grows, it will go elsewhere,” Mayor Timothy McNamara told his colleagues on the City Council during an April 20 meeting held to discuss the topic. “You could work in Lebanon. You could work in Austin [Texas]. You could work in a lot of places where that singlefamily product is actually available.” Nestled in between the hills of the Upper Valley, the 14,282-person city’s restricted geography means most of the city is practically off-limits to homebuilding to house the tens of thousands who work at Dartmouth College in nearby Hannover, at the city’s DartmouthHitchcock Medical Center or at any number of high-tech and manufacturing companies that have grown up in the bucolic community over

PG

3 3 4 4 5 5 7 7 9 9 10 10 10 10

City Councilor Douglas Whittlesey told his colleagues at the April 20 meeting about how he moved to the area in his 20s after getting a job in the region and looking to raise a family. But today, he doubts he would be able to afford to repeat the experience, and worries about the broader effect on the city’s small businesses – not just the big employers like Dartmouth-Hitchcock, whose housing-driven hiring woes have made headlines in recent years.

Single-Family Median Sales Price $425,000 425000

INDEX

$400,000 400000

REAL ESTATE RECORDS

$375,000 375000

COUNTY

the last several decades. Lebanon’s yearly median single-family home price hit $330,000 on 120 total sales at the end of 2021 according to The Warren Group, publisher of The Registry Review. That’s a 32 percent jump over the $250,000 on 143 total sales where it sat at the end of 2018. The town isn’t the highest-cost in the region – next-door Hanover took that prize with a yearly median sale price of $711,000 in 2021 across 63 sales. But that fact isn’t giving local leaders comfort.

NEW HAMPSHIRE MARKET STATISTICS

Madbury

PISCATAQUA RD.....................................$1,450,000 B: Big Sky Farm LLC S: Donald K Schultze

Lebanon City Hall. City officials are exploring zoning reforms, density bonuses and even partnering with private developers to build more workforce housing.

TRANSACTIONS THRU

Belknap �������������������������� 04/15/22 Carroll ���������������������������� 04/15/22 Cheshire ������������������������ 04/15/22 Coos �������������������������������� 04/15/22 Grafton ���������������������������� 04/15/22 Hillsborough ������������������ 04/15/22 Merrimack ���������������������� 04/15/22 Rockingham ������������������ 04/15/22 Strafford ������������������������ 04/15/22 Sullivan �������������������������� 04/15/22 Bankruptcies Lien & Attachments Foreclosure, Mortgagee & Other Lien Auctions Requests for Bids & Proposals

$350,000 350000 $325,000 325000 $300,000 300000

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Mar. April Apr. May May June June July July Aug. Aug. Sept. Sept. Oct. Oct. Nov. Nov. Dec Dec. Jan. Jan. Feb. Feb. Mar. Mar. Mar. ’21

’22

Number 400000 $400,000 of Sales 360000 $360,000

Year

Median Price

Change Prior Year

320000 $320,000

Mar. 2018

$242,000

4.31%

280000 $280,000

Mar. 2019

$260,400

7.6%

240000 $240,000

Mar. 2020

$285,000

9.45%

Mar. 2021

$325,000

14.04%

Mar. 2022

$380,000

16.92%

200000 $200,000

Continued on Page 12

Mar.

Mar. ’18

Mar.

Mar. ’19

Mar.

Mar. ’20

Mar.

Mar. ’21

Mar.

Mar. ’22

q Statistics based on single-family home sales of $1,000 q Source: The Warren Group

©2022 The Warren Group Inc. All rights reserved. No part of this publication may be reproduced without the written consent of the publisher.

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