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

 

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

 

 

 

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