The Lyme, New Hampshire real estate market was strong in 2019 with twenty (20) sales of single-family homes, essentially matching 2018, which saw nineteen (19) sales.
Homes that sold in 2019 were on the market for an average of 4.5 months before going under contract, down from a post-recession high of 8.5 months (in 2012). The average negotiating discount – the % difference between a home’s list price and sale price – was 3.64% for 2019, the lowest on record for the market.
There were fifteen (15) properties actively listed at the conclusion of 2019, of which seven (7) were listed for over $1 million.
In regard to the broader real estate market in the region as a whole, the Greater Hanover-Lebanon market area – comprising Hanover, Norwich, Lebanon, Hartford and Lyme – was very solid in 2019. The market 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 either 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 substantially with Hanover, Hartford, and Lebanon each seeing record highs in regard to average price. 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 twenty (20) properties that sold in Lyme in 2019.
A list of all twenty (20) single-family properties that sold/closed in Lyme in 2019 is below.
| 644 River Road, Lyme, NH | $225,000 |
| 43 Breck Hill Road, Lyme, NH | $260,000 |
| 59 Pico Road, Lyme, NH | $320,000 |
| 36 Goose Pond Road, Lyme, NH | $355,000 |
| 216 Orford Road, Lyme, NH | $359,000 |
| 11 Dorchester Road, Lyme, NH | $365,000 |
| 144 Orford Road, Lyme, NH | $369,000 |
| 333 Goose Pond Road, Lyme, NH | $375,000 |
| 22 Post Pond Lane, Lyme, NH | $385,000 |
| 18 Citadel` Lane, Lyme, NH | $394,000 |
| 65 Pout Pond Lane, Lyme, NH | $399,000 |
| 16 Pleasant Street, Lyme, NH | $405,000 |
| 530 River Road, Lyme, NH | $473,000 |
| 23 Storrs Hill Lane, Lyme, NH | $475,000 |
| 522 River Road, Lyme, NH | $500,000 |
| 69 Pout Pond Road, Lyme, NH | $675,000 |
| 73 Franklin Hill Road, Lyme, NH | $795,000 |
| 280 Orford Road, Lyme, NH | $798,750 |
| 17 Maple Lane, Lyme, NH | $875,000 |
| 2 On The Common Road, Lyme, NH | $985,000 |
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