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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