Vol.41, No.20
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W E E K O F M O N D A Y, M A Y 2 7 , 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
AFFORDABLE HOUSING
Peterboro 382 SAND HILL RD. . . . . . . . . . . . . . . . . . . . . . . . . . . $2,797,333 B: Samuel Rowse S: Robert J Finley & Karin K Finlay Use: Mixed Use-forest & Resid, Lot: 2710774sf
New London 115 LAMSON LN. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,911,733 B: Clara Cantor & Patricia Cantor S: Susan D Kenney & William A Kenney Jr Use: 3 Bdrm Contemporary, Lot: 65340sf
Sunapee 77 LAKE AVE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,850,000 B: Michael Hayes & Anita Hayes S: Lake Sunapee Partnership LLC Mtg: JPMorgan Chase Bank $1,300,000 Use: 5 Bdrm Contemporary, Lot: 10019sf
Alton ECHO SHORE RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,349,000 B: Duane Champoux & Marla Y Champoux S: Robert S Conrad Tr, Tr for Robert S Conrad RET
Newbury 111 HIGH POINT RD . . . . . . . . . . . . . . . . . . . . . . . . . . $1,250,000 B: Jonathan T Silver & Rebecca R Silver S: Barbara U Colehower & William S Colehower Mtg: Guaranteed Rate Inc $500,000 Use: 4 Bdrm Contemporary, Lot: 287932sf
Lee 119 CALEF HWY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,140,000 B: Mark Kustra Properties LLC S: James Paleologos Tr, Tr for Helen Paleologos LT Mtg: Federal Savings Bank $350,000 Use: Commercial Building, Lot: 43560sf
Laconia 44 INDIAN PATH . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,075,000 B: Stephen Evans & Alicia Evans S: Mark A Brady & Robin M Brady Mtg: Newrez LLC $860,000 Use: 6 Bdrm Conventional, Lot: 9261sf
Portsmouth 410 RICHARDS AVE . . . . . . . . . . . . . . . . . . . . . . . . . . $1,020,000 B: Paul J Reid Tr, Tr for Paul J Reid 2003 RET S: Scott J Bleczinski Mtg: Federal Savings Bank $816,000 Use: 3 Bdrm Bngl/cottage, Lot: 6105sf
Moultonboro 85 EAGLE SHORE RD. . . . . . . . . . . . . . . . . . . . . . . . . . . $975,000 B: Barry L Lightbown Tr, Tr for Donna M Lightbown 2016 T S: Irvin Crespo Tr, Tr for Irvin Crespo 2018 T Use: 2 Bdrm Camp/cabin, Lot: 165528sf
Meredith 43-45 STONEDAM ISLAND RD. . . . . . . . . . . . . . . . . . . . $965,000 B: Marc J Theroux & Tina R Theroux S: Karen M Durward Mtg: Cornerstone Bank $772,000 Use: 2 Bdrm Contemporary, Lot: 81893sf
Home Prices Outstrip Some Pocketbooks Increases Since 2014 Have Made Median Home Unaffordable BY DIANE MCLAUGHLIN SPECIAL TO THE REGISTRY REVIEW
A
cross New Hampshire, a lower inventory of single-family homes, rising sale prices and fewer days on the market point to a growing trend: a workforce housing shortage. “I don’t think there’s any community in the state that doesn’t have some issues in terms of ensuring that there is adequate housing and the type of housing that workers are seeking,” said Bob Quinn, vice president of government affairs for the New Hampshire Association of Realtors. Local zoning regulations, higher building costs and labor shortages in the construction industry are a few factors affecting the inventory of workforce housing. This shortage affects areas across the state. The statewide monthly inventory of singlefamily homes for sale has dropped by about 55 percent since 2014, according to NHAR monthly indicators. Fifteen years ago the state averaged about 11,700 homes for sale each month. Last year, the monthly average was about 5,200.
New Homes Are Higher-End In some New Hampshire counties, the houses for sale are not affordable. A single-family home in New Hampshire is considered affordable at $300,000, according to the New Hampshire Housing Finance Authority. For newly constructed homes, the median sale price in 2018 was $374,300, almost 19 percent higher than in 2014, according to the NHHFA. For existing homes sold in 2018, the median price was $250,000.
Single-family home prices have dramatically outstripped the ability for the average worker to buy homes in New Hampshire.
Looking at the overall numbers for singlefamily homes, the statewide median sale price was $265,000, up 22 percent since 2014, according to The Warren Group. Single-family homes are also selling more quickly, another sign of a workforce housing shortage. Single-family homes for sale in the past two years spent fewer days on the market than at any other time during the past 20 years: 68 days in 2017 and 61 days in 2018, according to the NHAR. That’s about a month shorter than in 2014 and two months shorter than in 2011 and 2012.
Every county saw single-family homes spend fewer days on the market in 2017 and 2018. In most counties, the number of days on the market has dropped year after year since 2012, according to the NHAR. In Rockingham County, the median sale price was $355,000 in 2018, a 30 percent increase since 2014, according to The Warren Group, publisher of Registry Review, while the median income has only gone up 7.3 percent according to the U.S. Census Bureau. A family making the median household income in the
New Hampshire Market Statistics
Continued on Page 16
TO OUR READERS
Single-Family Sales By Month
T
he Registry Review has for many years been a terrific source of
real estate data in New Hampshire,
2,500 2500
but it has the potential to be much
INDEX
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more. The newspaper now features
REAL ESTATE RECORDS
1,500 1500
Group, publisher of The Registry Re-
PG COUNTY
TRANSACTIONS THRU
3 Belknap �������������������������� 05/14/19 4 Carroll ���������������������������� 05/14/19 4 Cheshire ������������������������ 05/14/19 5 Coos �������������������������������� 05/14/19 5 Grafton ���������������������������� 05/14/19 6 Hillsborough ������������������ 05/14/19 8 Merrimack ���������������������� 05/14/19 10 Rockingham ������������������ 05/14/19 11 Strafford ������������������������ 05/14/19 12 Sullivan �������������������������� 05/14/19 13 Bankruptcies 13 Lien & Attachments 14 Foreclosure, Mortgagee & Other Lien Auctions 14 Requests for Bids & Proposals
articles from the staff of The Warren view; news briefs from real estate and
1,000 1000
financial institutions throughout the state; and analytics from The War-
500 500 00
ren Group’s proprietary data prod-
Apr. May May June Jun. July Jul. Aug. Aug. Sept. Sept. Oct. Oct. Nov. Nov. Dec. Dec. Jan. Jan. Feb. Feb. March Mar. Apr. Apr. Apr. ’18
’19
Number 1500 of 1,500 Sales 1250 1,250 1000 1,000 750 750 500 500
250 250 00
Apr. Apr. ’14
Apr. Apr. ’15
Apr. Apr. ’16
Apr. Apr. ’17
Apr. Apr. ’18
Apr. Apr. ’19
Apr. 2014 Apr. 2015 Apr. 2016 Apr. 2017 Apr. 2018 Apr. 2019
Number of Sales
Change Prior Year
899 860 1,262 1,204 1,274 1,168
-17.14% -4.34% 46.74% -4.6% 5.81% -8.32%
q Statistics based on single-family home sales of $1,000 q 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.
ucts. We invite readers to submit their news, feedback and story ideas to us at editorial@thewarrengroup.com. Sincerely, Cassidy Norton Associate Publisher The Warren Group