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Real Estate Market Report for Hanover, New Hampshire - 2017 in Review

 

2017 was another strong year for the Hanover, New Hampshire real estate market.  While the number of sales of single-family homes was down slightly, we believe this decrease is only a reflection of a lack of inventory, rather than a reduction of buyer demand.

 

The chart below shows sales of single-family homes in Hanover from 2004 through 2017.  In general, the market has shown a fast rebound from the 2008 recession, with sales of residential homes up 42% in 2017 compared to the lowest point in 2009.  

 

 

In 2017, sales of residential homes in Hanover were down 14% compared to 2016, but again, we believe the decrease is simply due to a lack of inventory to meet the very high buyer demand.  A chart of the historical average negotiating discount (the percentage a house sold versus the last list price) in Hanover, posted below, supports this notion. 

 

 

In 2017, the average negotiating discount dropped to 2.61%, serving as a clear indicator that there is plenty of competition among buyers for a limited number of desirable homes.  This figure for 2017 is also representative of a number of bidding wars and instances where a seller received more than asking price.  In fact, in 11 of the 74 transactions that occurred in 2017, sellers received more than their asking price.

 

The luxury market for homes over $1 million has been hot in the past several years, and 2017 was no different.  2017 saw 11 homes close for over $1 million, which is the second greatest number of homes to have sold above $1 million any given year.  A graph of historical luxury sales is below.  Snyder Donegan assisted the seller in the sale of 3 Tyler Road, for $1,470,000.  You can click here to see photos of 3 Tyler Road and find more info.

 

 

A list of all 74 properties that sold/closed in Hanover in 2017 is below.

11 Downing Road, Hanover, NH

$1,725,000

6 Rope Ferry Road, Hanover, NH

$1,600,000

3 Tyler Road, Hanover, NH

$1,470,000

14 Occom Ridge, Hanover, NH

$1,450,000

43 Stevens Road, Hanover, NH

$1,325,000

49 Ferson Road, Hanover, NH

$1,300,000

21 1/2 Lyme Rd, Hanover, NH

$1,250,000

48 King Road, Hanover, NH

$1,188,000

5 BUTTERNUT LANE, Hanover, NH

$1,175,000

27 Rip Rd, Hanover, NH

$1,125,000

3 Lewin Road, Hanover, NH

$1,070,000

145 Dogford Rd, Hanover, NH

$995,000

393 Hanover Center Road, Hanover, NH

$950,000

32-33 Wolfeboro Road, Hanover, NH

$950,000

6 Ivy Pointe Way, Hanover, NH

$930,000

603 Hanover Center Road, Hanover, NH

$929,000

7 Weatherby Road, Hanover, NH

$885,000

7 Barrett Road, Hanover, NH

$885,000

2 Ferson Road, Hanover, NH

$850,000

4 Ivy Pointe Way, Hanover, NH

$840,000

35 Ferson Road, Hanover, NH

$832,000

5 Emily Lane, Hanover, NH

$820,000

6 Gates Road Road, Hanover, NH

$810,000

10 River Ridge Road, Hanover, NH

$795,000

15 Allen St, Hanover, NH

$785,000

58 Lyme Road, Hanover, NH

$784,000

4 Ladd Road, Hanover, NH

$775,000

1 Twin Brook Drive, Hanover, NH

$765,000

8 Carriage Lane, Hanover, NH

$757,500

12 Sargent Street, Hanover, NH

$755,000

18 Montview Drive, Hanover, NH

$730,000

107 Trescott Road, Hanover, NH

$712,500

370 Hanover Center Road, Hanover, NH

$690,000

6 Wyeth Road, Hanover, NH

$680,000

1 Cutting's Corner, Hanover, NH

$659,000

126 Lyme Road, Hanover, NH

$650,000

6 Cuttings Corner, Hanover, NH

$650,000

44 Rip Rd, Hanover, NH

$630,000

17 Low Road, Hanover, NH

$610,000

38 Great Hollow Road, Hanover, NH

$605,000

1 Woodcock Lane, Hanover, NH

$583,000

14 Ledyard Lane, Hanover, NH

$580,000

75 Lebanon Street, Hanover, NH

$570,000

108 Blueberry Hill Drive, Hanover, NH

$555,000

127 Lyme Road, Hanover, NH

$552,000

42 Rayton Rd., Hanover, NH

$550,000

1 Partridge Road, Hanover, NH

$550,000

32 Valley Road Extension, Hanover, NH

$544,500

71 Lebanon Street, Hanover, NH

$540,000

1 Mourlyn Road, Hanover, NH

$535,000

3 Ledge Road, Hanover, NH

$520,000

32 Rayton Road, Hanover, NH

$520,000

36 PARTRIDGE, Hanover, NH

$499,000

1 Pinneo Hill Road, Hanover, NH

$492,500

106 Blueberry Hill Drive, Hanover, NH

$487,500

78 King Rd., Hanover, NH

$484,000

4 Woods End, Hanover, NH

$468,000

45 East Wheelock St, Hanover, NH

$455,000

14 Rayton Road, Hanover, NH

$455,000

3 Storrs Rd, Hanover, NH

$430,500

80 Lebanon Street, Hanover, NH

$415,000

1 King Road, Hanover, NH

$400,000

155 Lyme Road, Hanover, NH

$358,000

11 Rayton Road, Hanover, NH

$355,000

15 Thompson Rd, Hanover, NH

$340,000

109 Lyme Road, Hanover, NH

$329,000

16 Goss Road, Hanover, NH

$320,000

26 Rennie Road, Hanover, NH

$310,000

147 Lyme Rd, Hanover, NH

$275,000

139 Lyme Rd, Hanover, NH

$240,000

3 Great Hollow Road, Hanover, NH

$240,000

9 Ibey Road Road, Hanover, NH

$219,000

4 Greensboro Road, Hanover, NH

$205,000

654 Hanover Center Road, Hanover, NH

$200,000

 

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