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
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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
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