Lebanon New Hampshire Real Estate Market Report - Full Year, 2019

By Snyder Donegan
Posted Tuesday, Jan 21, 2020

The Lebanon, New Hampshire real estate market continued to tighten in 2019, setting a number of new records. Specifically, the market saw 124 sales of single-family homes, down just slightly from 2018, which saw 131 sales. Houses that sold in 2019 were on the market for an average of just 40 days before going under contract, the lowest duration on record for the market.

Prices in Lebanon have been rising steadily over the past decade, and in 2019 the average price of sold homes reached a record high of just over $295,000. On average, buyers paid closer to seller’s list prices than they have in prior years, and in many cases they paid more than list. In fact, 50% of the homes that sold in 2019 did so either at or above a seller’s asking price. The average negotiating discount – the % difference between a home’s list price and sale price – hit an all-time low of just 1.41%, down from 2.25% in 2018.

In regard to supply, there were twenty-four (24) homes actively listed for sale on December 31, 2019, compared to twenty-three (23) on the same date in 2018.

In regard to the broader real estate market in the region as a whole, the Greater Hanover-Lebanon market area – comprising Hanover, Norwich, Lyme, Hartford, and Lebanon – was very solid in 2019. The market area saw 338 sales of single-family homes in 2019, compared to 350 in 2018. While the number of transactions in Hanover, Lebanon, Hartford, and Lyme were nearly flat or saw an increase compared to 2018, Norwich saw a 30% decrease from forty-six (46) sales in 2018 to just thirty-two (32) sales last year. While surprising, this reduction is almost certainly due to the very limited supply of homes in Norwich at the onset of and throughout last year.

Prices continued to rise with Hanover, Hartford, and Lebanon each seeing record highs in regard to the average price of sold homes. In 2019, the average price of sold homes in Hanover was up 2% from the previous year and just shy of $750,000, Hartford was up 20% at $277,000, and Lebanon was up 3% at $295,000.

Another sign of continued strength in the Greater Hanover-Lebanon market area was the average negotiating discount, which has been steadily decreasing from a high of 5.85% in 2010 to a record-low of just 2.48% in 2019. To put this differently, 39% of homes that transacted during 2019 sold either at or above a seller’s asking price. This was even more pronounced in Lebanon, where 50% of homes sold at or above the asking price.

Supply of single-family homes was significantly diminished at the conclusion of 2019. Specifically, there were just 84 homes actively listed for sale on December 31 of last year, compared to 148 on the same date in 2018, a 43% reduction. In Norwich, the decrease was even more pronounced as there were just three (3) homes on the market at the end of 2019, a 73% decrease compared to 2018. Norwich, along with every town in the market area, will need a significant replenishment of new supply early this year to satisfy seemingly unending buyer demand.

Charts illustrating the above information can be found below, followed by a complete list of all 124 properties that sold in Lebanon in 2019.

A list of all one hundred twenty-four (124) single-family properties that sold/closed in Lebanon in 2019 is below.

11 Storrs Hill Road, Lebanon, NH	$40,000
20 Wolf Road, Lebanon, NH	$58,500
22 Rudsboro, Lebanon, NH	$64,900
695 Dartmouth College Highway, Lebanon, NH	$82,500
52 South Main Road, Lebanon, NH	$100,000
278 Meriden Road, Lebanon, NH	$134,000
29 Peabody Street, Lebanon, NH	$162,000
11 Coburn Terrace, Lebanon, NH	$165,000
10 Lakeview Drive, Lebanon, NH	$165,000
72 Spencer Street, Lebanon, NH	$168,700
64 S Main Street, Lebanon, NH	$169,000
40 Stoney Brook Road Highway, Lebanon, NH	$169,000
70 Young Street, Lebanon, NH	$172,000
79 Church Street, Lebanon, NH	$174,000
57 Water Street, Lebanon, NH	$177,000
28 Messenger Street, Lebanon, NH	$187,000
5 Richardson Place, Lebanon, NH	$190,000
9 Jones Avenue, Lebanon, NH	$195,000
9 Bomhower Street Extension, Lebanon, NH	$195,000
4 Central Avenue, Lebanon, NH	$200,000
109 Trues Brook Road, Lebanon, NH	$206,000
4 Rita Street, Lebanon, NH	$207,000
12A Eldridge Street, Lebanon, NH	$207,900
59 Water Street, Lebanon, NH	$210,000
192 North Main Street, Lebanon, NH	$210,000
39 Cross Road, Lebanon, NH	$213,600
5 Walnut Street, Lebanon, NH	$215,000
24 Colburn Street, Lebanon, NH	$215,000
15 Manchester Drive, Lebanon, NH	$215,000
13 Jones Avenue, Lebanon, NH	$215,000
54 Winter Street, Lebanon, NH	$220,000
23 Westboro Woods Lane, Lebanon, NH	$224,000
42 Elm Street, Lebanon, NH	$225,000
55 Westboro Woods Lane, Lebanon, NH	$227,500
6 Rita Street, Lebanon, NH	$229,900
16 Gerrish Court Court, Lebanon, NH	$230,000
20 Pleasant Street, Lebanon, NH	$232,000
5 Floyd Avenue, Lebanon, NH	$232,500
1 Union Street, Lebanon, NH	$235,000
36 Crafts Avenue, Lebanon, NH	$235,000
28 Dana Street, Lebanon, NH	$235,870
29 Dartmouth Avenue, Lebanon, NH	$240,000
23 Mack Avenue, Lebanon, NH	$249,000
4 Kinne Street, Lebanon, NH	$252,000
116 Slayton Hill Road, Lebanon, NH	$255,000
105 Trues Brook Road, Lebanon, NH	$255,000
1 White Avenue, Lebanon, NH	$256,500
20 Green Street West, Lebanon, NH	$257,000
140 Bank Street Extension, Lebanon, NH	$259,500
7 LaPlante Road, Lebanon, NH	$263,620
27 Floyd Avenue, Lebanon, NH	$265,000
21 Pasture Lane, Lebanon, NH	$266,000
171 Mascoma Street, Lebanon, NH	$269,000
25 Moss Road, Lebanon, NH	$270,000
196 Bank Street Extension, Lebanon, NH	$272,000
55 Young Street, Lebanon, NH	$274,000
4 Farman Avenue, Lebanon, NH	$276,600
1 Bassy Street, Lebanon, NH	$279,000
14 Williams Street, Lebanon, NH	$279,000
6 Carlton Drive, Lebanon, NH	$289,200
48 Manchester Drive, Lebanon, NH	$289,900
49 Storrs Hill Road, Lebanon, NH	$290,000
411 Meriden Road, Lebanon, NH	$290,000
40 Old Pine Tree Cemetery Road, Lebanon, NH	$292,000
225 Meriden Road, Lebanon, NH	$295,000
77 Slayton Hill Road, Lebanon, NH	$298,000
78 Mountain View Drive, Lebanon, NH	$299,900
37 Highland Avenue, Lebanon, NH	$300,000
20 Chelsea Circle, Lebanon, NH	$305,000
213 Dartmouth College Highway, Lebanon, NH	$310,000
5 Mack Avenue, Lebanon, NH	$310,000
6 Abbott Street, Lebanon, NH	$312,000
35 Moss Road, Lebanon, NH	$314,000
8 Cherry Circle, Lebanon, NH	$315,000
2 Deer Run Lane, Lebanon, NH	$320,000
21 Hough Street, Lebanon, NH	$321,000
10 Cherry Circle, Lebanon, NH	$325,000
14 Hall Road, Lebanon, NH	$325,000
39 Spring Street, Lebanon, NH	$325,000
457 Meriden Road, Lebanon, NH	$325,000
25 Cottage Circle, Lebanon, NH	$335,000
159 Slayton Hill Road, Lebanon, NH	$335,000
13 Cottage Circle, Lebanon, NH	$338,000
337 Mount Support Road, Lebanon, NH	$338,500
28 Fountain Way, Lebanon, NH	$339,000
2 Apple Blossom Drive, Lebanon, NH	$340,000
48 Nottingham Circle, Lebanon, NH	$347,000
53 School Street, Lebanon, NH	$349,500
21 White Birch Lane, Lebanon, NH	$354,675
363 Meriden Road, Lebanon, NH	$355,500
5 Rita Street, Lebanon, NH	$359,000
87 Dogwood Circle, Lebanon, NH	$362,827
24 White Birch Lane, Lebanon, NH	$364,781
24 Apple Blossom Drive, Lebanon, NH	$365,000
103 Maple Street, Lebanon, NH	$370,000
27 Lash Road, Lebanon, NH	$380,000
15 White Birch Lane, Lebanon, NH	$381,825
24 Chelsea Circle, Lebanon, NH	$382,000
24 Westview Lane, Lebanon, NH	$382,000
14 Dorset Lane, Lebanon, NH	$390,000
20 Messenger Street, Lebanon, NH	$392,000
121 Slayton Hill Road, Lebanon, NH	$395,000
88 Dogwood Circle, Lebanon, NH	$396,995
12 Wellington Circle, Lebanon, NH	$400,000
9 Kimball Street, Lebanon, NH	$400,300
17 White Birch Lane, Lebanon, NH	$400,500
15 Cross Road, Lebanon, NH	$407,500
51 Apple Blossom Drive, Lebanon, NH	$409,000
123 Seminary Hill, Lebanon, NH	$410,000
78 Slayton Hill Road, Lebanon, NH	$410,000
12 Dogwood Circle, Lebanon, NH	$419,000
30 Blueberry Hill Drive, Lebanon, NH	$420,000
7 Evergreen Court, Lebanon, NH	$425,000
30 Evergreen Court, Lebanon, NH	$430,000
2 Westview Lane, Lebanon, NH	$430,000
11 Blueberry Meadow, Lebanon, NH	$435,000
59 Apple Blossom Drive, Lebanon, NH	$435,000
32 Wellington Circle, Lebanon, NH	$464,490
7 Dunster Drive, Lebanon, NH	$475,000
121 Wellington Circle, Lebanon, NH	$479,000
62 Oak Ridge Road, Lebanon, NH	$499,000
20 Laplante Road, Lebanon, NH	$510,000
69 Wellington Circle, Lebanon, NH	$527,500
100 Daisy Hill Road, Lebanon, NH	$678,400