The Registry Review: Sept. 23, 2019

Page 1

Vol.41, No.38

www.thewarrengroup.com

W E E K O F M O N D A Y, S E P T E M B E R 2 3 , 2 0 1 9

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

WEEKLY SALES OF NOTE

SPRING MARKET REVIEW

Hampton OFF LAFAYETTE RD ����������������������������������������������������$5,000,000 B: NH State Of DOT S: Boston&Maine Corp

Manchester 1888 S WILLOW ST �����������������������������������������������������$5,000,000 B: Tidal Creek LLC S: Pindot LLC Mtg: Bank of New England $4,000,000 Use: Mixed Use-prim Comm & Agri, Lot: 2100899sf

Bedford

One Direction for Home Prices: Up, Up and Away Manchester, Portsmouth Suburbs See Boost as Buyers Spread Out BY JAY FITZGERALD SPECIAL TO THE REGISTRY REVIEW

24 OLD BEDFORD RD ��������������������������������������������������$4,100,000 B: Senior Living Of Bedford S: Old Bedford Road Realty LLC Mtg: NH Health&Educat $40,000,000 Use: 2 Bdrm Ranch, Lot: 523591sf

Bartlett 83 ROUTE 302 �������������������������������������������������������������$3,179,000 B: Sun Ng Glen Ellis Rv LLC S: Glen Ellis Fam Campground LLC Mtg: Meredith Vlg Svgs Bk $3,900,000

R

esidential real estate prices continued to push into record-high territory during the first half of 2019, propelled by strong demand, low interest rates and inventories and a years-long economic expansion blowing past warnings of a possible downturn. Some of the same dynamics also contributed to a spring rush by owners to refinance homes,

boosting the mortgage origination market across the state. There were indeed some troubling signs this past spring within the market, most notably yet another statewide decline in the number of single-family homes for sale in the state, according to data from the Warren Group, publisher of The Registry Review. There were 8,850 single-family homes put up for sale in New Hampshire from January to July,

Alton

Lack of Affordable Options Shows

317 MOUNT MAJOR HWY �������������������������������������������$2,850,000 B: Mt Major Self Storage LLC S: Alton Self Storage LLC Mtg: Lowell Five Cent Svgs $1,440,000 Use: Retail-department Store, Lot: 156380sf

In Nashua, sales fell from 448 year-to-date in 2019 to 439 through July. But single-family home prices soared during the key spring months, rising 8.7 percent to $310,000 compared to the same year-to-date period in 2018. One of the main reasons for Nashua’s surge, according to Morrissey, was the strong regional economy, driven by tech companies and workers sometimes moving just across the Massachusetts border. But the primary reason for the price jump was a “complete, absolute shortage of affordable housing” for sale, he said. Lower-end housing, in the $250,000 to $300,000 range, was hard to find in the Nashua market, he said. That category shortage led to a stronger market in duplex sales, as some buyers opted to purchase two-family homes, living in one unit while renting out the other to make

Moultonboro 22 PINE NEEDLE LN ����������������������������������������������������$2,500,000 B: Steven R Pruchansky Tr, Tr for SRP FT S: Benjamin H Hoffman & Alexa J Haskell-Hoffman Use: 2 Bdrm Ranch, Lot: 121097sf

North Hampton 25 WILLOW AVE ����������������������������������������������������������$2,000,000 B: ZJBV Properties LLC S: Patrick F Walsh & Karen G Walsh Use: 1-Family, Lot: 62291sf

Rye 4 MERRY MEETING LN ������������������������������������������������$1,220,000 B: Ellen L Arnold Tr, Tr for Ellen L Arnold RET S: John Fani Srour & Miranda R Fani Srour Mtg: Bank of America NA $845,000 Use: 4 Bdrm Colonial, Lot: 217800sf

With a lack of affordable homes everywhere, buyers – including Millennials –

Atkinson 6 HEMLOCK SHORE DR �����������������������������������������������$1,200,000 B: Jeroen Nijhof Tr, Tr for Nijiof FT S: Lawrence K Benson Tr, Tr for Benson FT Mtg: Peoples United Bank $720,000 Use: 3 Bdrm Ranch, Lot: 21824sf

are looking beyond trendy cities, real estate agents say.

Continued on Page 16

New Hampshire Market Statistics

TO OUR READERS

T

Number of Mortgages for Single-Family Homes

Portsmouth 379 NEW CASTLE AVE ������������������������������������������������$1,190,000 B: Todd Peters & Jan Peters S: Robert Mcdowell Use: 2 Bdrm Conventional, Lot: 8890sf

4,500 4500 8000

Both

7000

6000 3,750 3750 5000

INDEX

Refinance Purchase

4000

3,000 3000 3000

REAL ESTATE RECORDS PG COUNTY

down a hefty 7.7 percent from the same year-todate period in 2018. But buyers were out in droves during the all-important spring months, driving up singlefamily prices in most submarkets, from a statewide median of $265,500 in 2018 to $281,500 in 2019, for a 6.24 percent gain. “The market is fully recovered,” Allison James Estates’ Stephan Morrissey said of activity in the Nashua area, one of the hotter markets in the state this past spring. “It was as crazy as ever.”

2000

TRANSACTIONS THRU

3 Belknap ���������������������������� 09/10/19 4 Carroll ���������������������������� 09/10/19 4 Cheshire ������������������������ 09/10/19 5 Coos �������������������������������� 09/10/19 5 Grafton ���������������������������� 09/10/19 6 Hillsborough ������������������ 09/10/19 9 Merrimack ���������������������� 09/10/19 10 Rockingham ������������������ 09/10/19 11 Strafford ������������������������ 09/10/19 13 Sullivan �������������������������� 09/10/19 13 Bankruptcies 13 Lien & Attachments 14 Foreclosure, Mortgagee & Other Lien Auctions 14 Requests for Bids & Proposals

1000

2,250 2250

Dec. Jan. Feb. MarchApril May June July Aug. Sept. Oct. Nov. Dec.

1,500 1500 750 750

00

Jul. Aug. Aug. Sept. Sept. Oct. Oct. Nov. Nov. Dec. Dec. Jan. Jan. Feb. Feb. Mar. Mar. Apr. Apr. May May June June July Jul. July ’18

4000 4,000

6000

’19

BothMonth

Both

5000

Purchase

3200 3,200

3000 2000

Refinance

1000

0

Jan. 15

Purchase

Refinance

Both

Refinance

4000

Jan. 16

2400 2,400 Jan. 17

Jan. 18

1,586

2,097

3,683

July 2016

1,201

1,907

3,108

July 2017

1,636

1,831

3,467

July 2018

1,659

1,615

3,274

July 2019

1,674

2,243

3,917

Purchase

Jan. 19

1600 1,600 800 800

00

July 2015

July 15 July

Julu July16

’15

’16

July July17

’17

July July18

July July19

’18

’19

❑ Statistics based on single-family home sales ❑ Source: The Warren Group

©2019 The Warren Group Inc. All rights reserved. No part of this publication may be reproduced without the written consent of the publisher.

he Registry Review is online! After more than 40 years as a printed newspaper, all of the real estate information you rely on is now available at Both www.theregistryreview.com. (There are no plans to cease publication of the Refinance newspaper.) All current subscribers Purchase have complimentary access to the website. When you first visit the site, please click the “forgot password” button to set up your account. If you have any problems please call or email customer service at 617-896-5388 or customerservice@thewarrengroup.com. If you have any feedback or would like to contribute content, please email editorial@ thewarrengroup.com. Sincerely, Cassidy Norton Associate Publisher The Warren Group


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The Registry Review: Sept. 23, 2019 by The Warren Group - Issuu