Vol.41, No.38
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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