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Hanover, New Hampshire Real Estate Market Report - Full Year, 2020

 

HANOVER MARKET AREA

The Hanover, New Hampshire real estate market registered a record-high ninety-four (94) sales in 2020, up from seventy-nine (79) in 2019. As of December 31, there were an additional four (4) properties active under contract or pending and set to close with the coming months.

 

When looking at the data for Hanover and most of the greater Hanover market area, nearly all of it points to the extraordinarily high motivation level of buyers, particularly in the second half of the year. Of all 94 closed homes, buyers paid either at or above the seller’s asking price in thirty-seven (37) of those transactions, while the average negotiating discount– percent difference between a home’s list price and sale price– was down from 2019 to 2.99%. Additionally, twenty (20) of all sold/closed homes were over $1 million– up from twelve (12) in 2019 to a new all-time high– creating a record-high average price of $826,404. With inventory flying off the shelves at an unprecedented pace, Hanover buyers were willing to act fast and pay more this year than ever before.

 

Undoubtedly one the most staggering statistics of Hanover’s 2020 data, however, is that of active listings at year’s end. As of December 31, there were just six (6) single-family homes actively listed on the market, down precipitously from twenty (20) in 2019 to an all-time low. Though we remain optimistic, with buyer demand still high but so little inventory available, it stands to reason that without a considerable infusion of new listings into the market, 2021 could potentially get off to a slower start than usual.

 

GREATER HANOVER-LEBANON MARKET AREA

The Greater Hanover-Lebanon market area (Hanover, Hartford, Lebanon, Lyme, Norwich, Plainfield, Strafford) also had a banner year in 2020 with 439 sales of single-family homes, eclipsing its 2019 total of 338, a 30% increase. Like the Greater Woodstock area, each town in the GHLA either met or exceeded its 2019 figures for total sales, with Hanover, Hartford, and Lyme setting all-time records. In 200 of the 439 sales that transacted over the year, buyers paid either at or above a seller’s asking price, with the average price of a home reaching $505,604. Not surprisingly, these record totals have left a vacuum in terms of available inventory, as there were just twenty-eight (28) single family homes actively listed in the entire Greater-Hanover market area on December 31 compared to eighty-four (84) at the same point in 2019.

 

In regard to luxury sales, the Greater Hanover-Lebanon market area saw thirty-six (36) sales of homes that sold/closed for $1 million or more. Snyder Donegan was pleased to represent the buyers, sellers, or both in the highest 2020 individual home sales in Hanover (24 Occom Ridge – $3.1 million) and Lyme (42 Claflin Lane – $2.575 million).

 

Inventory is now genuinely tight at most price points up to about $1.5 million, and prices clearly rose, particularly in moderate price points and in properties closer to well-known towns like Woodstock and Hanover. Because of this, we are starting to see buyers move both outwards in location from traditional “centers” and upwards in price. And more rural, even “remote” properties have special appeal to those seeking more permanent safety from the COVID storm or a simpler way of life.

 

HANOVER FY 2020 BY THE NUMBERS

  • 94 SOLD single-family homes
    • Average Price: $826,404
    • Median Price: $728,500
    • Total Volume: $77,681,950
    • Average Negotiating Discount: 2.99%
    • Average Days on the Market: 85
  • 4 ACTIVE UNDER CONTRACT/PENDING single-family homes
    • Average Price: $640,975
    • Median Price: $719,950
    • Average Days on the Market: 191
  • 6 ACTIVELY LISTED single-family homes
    • Average Price: $1,552,033
    • Median Price: $869,150
    • Average Days on the Market: 116

 

Charts illustrating portions of the above information can be found below, followed by a complete list of all 94 properties that closed during FY 2020.

 

A list of all 94 properties that sold/closed in Hanover in FY 2020 is below.

120 & 121 Wolfeboro Road, Hanover, NH

$112,000

9 River Road, Hanover, NH

$170,000

5 and 6 Goose Pond Road, Hanover, NH

$211,500

15 Thompson Road, Hanover, NH

$299,000

342 Hanover Center Road, Hanover, NH

$300,000

121 Lyme Road, Hanover, NH

$310,000

246 Hanover Center Road, Hanover, NH

$327,000

101 Greensboro Road, Hanover, NH

$350,000

86 Greensboro Road, Hanover, NH

$365,000

40 Stevens Road, Hanover, NH

$400,900

371 Dogford Road, Hanover, NH

$405,000

8 Dairy Lane, Hanover, NH

$432,271

636 Hanover Center Road, Hanover, NH

$433,500

14 Reservoir Road, Hanover, NH

$440,276

663 Hanover Center Road, Hanover, NH

$449,000

20 Ledyard Lane, Hanover, NH

$470,000

25.5 School Street, Hanover, NH

$470,000

4 Emily Lane, Hanover, NH

$479,000

2 Ferson Road, Hanover, NH

$489,000

349 Dogford Road, Hanover, NH

$489,000

22 Rennie Road, Hanover, NH

$499,000

82 King Road, Hanover, NH

$515,000

4 Dunster Drive, Hanover, NH

$529,000

13 Gibson Road, Hanover, NH

$553,000

160 Lyme Road, Hanover, NH

$560,000

13 Gibson Road, Hanover, NH

$575,000

5 Woods End Road, Hanover, NH

$576,500

18 Haskins Road, Hanover, NH

$580,000

10 Dunster Drive, Hanover, NH

$582,000

112 King Road, Hanover, NH

$590,000

4 Kingsford Road, Hanover, NH

$595,000

23 River Road, Hanover, NH

$597,500

6 Mink Drive, Hanover, NH

$610,000

80 East Wheelock Street, Hanover, NH

$622,000

71 Etna Road, Hanover, NH

$625,000

64 Greensboro Road, Hanover, NH

$630,000

23 Low Road, Hanover, NH

$642,500

3 Dunster Drive, Hanover, NH

$650,000

174 Etna Road, Hanover, NH

$668,100

2 Fox Field Lane, Hanover, NH

$675,000

21 Low Road, Hanover, NH

$680,000

44 Berrill Farms Lane, Hanover, NH

$689,000

603 Hanover Center Road, Hanover, NH

$690,000

401 Hanover Center Road, Hanover, NH

$694,500

10 Quail Drive, Hanover, NH

$705,000

2 Meadow Lane, Hanover, NH

$720,000

1 Saddle Run Road, Hanover, NH

$728,000

11 Low Road, Hanover, NH

$729,000

1 Granger Circle, Hanover, NH

$739,000

1 Fern Lane, Hanover, NH

$740,000

11 Wyeth Road, Hanover, NH

$748,000

36 River Road, Hanover, NH

$769,310

31 Low Road, Hanover, NH

$772,000

1 Ripley Road, Hanover, NH

$800,000

180 Lyme Road, Hanover, NH

$805,000

7 Pingree Road, Hanover, NH

$809,000

39 School Street, Hanover, NH

$819,433

8 Woodcock, Hanover, NH

$836,000

2 Bacchus Circle, Hanover, NH

$839,000

1 Mitchell Lane, Hanover, NH

$842,385

125 Trescott Road, Hanover, NH

$845,000

16 Mulherrin Farm Road, Hanover, NH

$850,000

23 Rip Road, Hanover, NH

$850,000

21 Mulherrin Farm Road, Hanover, NH

$855,000

6 Weatherby Road, Hanover, NH

$860,000

9 Heather Lane, Hanover, NH

$860,000

10 Pine Drive, Hanover, NH

$866,250

198 Lyme Road, Hanover, NH

$899,000

33 Lyme Road, Hanover, NH

$900,000

23 Partridge Road, Hanover, NH

$920,000

50 Ferson Road, Hanover, NH

$920,000

4 Heneage Lane, Hanover, NH

$930,000

6 Laurel Street, Hanover, NH

$932,500

6 Hovey Lane, Hanover, NH

$949,025

131 South Main Street, Hanover, NH

$1,030,000

24 Hemlock Road, Hanover, NH

$1,185,000

40 Etna Road, Hanover, NH

$1,200,000

1 Rip Road, Hanover, NH

$1,220,000

1 S Esker Street, Hanover, NH

$1,260,000

18 Valley Road, Hanover, NH

$1,265,000

7 River Ridge Road, Hanover, NH

$1,275,000

17 Hemlock Road, Hanover, NH

$1,290,000

8.5 Pleasant Street, Hanover, NH

$1,320,000

52 King Road, Hanover, NH

$1,495,000

45 Rip Road, Hanover, NH

$1,500,000

147 Three Mile Road, Hanover, NH

$1,548,500

4 Quail Drive, Hanover, NH

$1,600,000

56 King Road, Hanover, NH

$1,710,000

9 Occom Ridge, Hanover, NH

$1,720,000

2 Parade Ground Road, Hanover, NH

$1,725,000

16 Chandler Road, Hanover, NH

$1,750,000

3 Balch Hill Lane, Hanover, NH

$1,775,000

39 Tranquil Brook Lane, Hanover, NH

$1,845,000

24 Occom Ridge, Hanover, NH

$3,100,000

 

 

 

 

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