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

By Snyder Donegan
Posted Wednesday, Jan 20, 2021

LEBANON MARKET AREA

The Lebanon, New Hampshire real estate market continued to show strength in 2020 with 124 sales of single-family homes, matching its 2019 figure and setting a record in total dollar volume at $39,981,856. As of December 31, there were an additional thirteen (13) properties active under contract or pending and likely to close in the coming months.

Being an unprecedented year across the Greater Hanover-Lebanon and Woodstock real estate markets in general, Lebanon was certainly no exception. Prices in Lebanon have been on a steady rise since a low of $217,000 in 2012, climbing to a record high of $322,434 in 2020. On average, buyers paid closer to sellers’ asking prices than ever before, as the negotiating discount– percent difference between a home’s list price and sale price– fell to an all-time low of 1.14%. In fact, of the 124 transactions, over 50% sold either at or above asking price, pointing to the competition of the market and motivation level of buyers.

Increased buying activity has significantly depleted available inventory, however, as there were just eight (8) single-family homes actively listed in Lebanon as of December 31. Though we remain optimistic about the 2021 market, Lebanon will need a considerable infusion of new listings to keep up with what we expect to be continued strong buyer demand.

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 priced 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.

LEBANON FY 2020 BY THE NUMBERS

124 SOLD single-family homes
- Average Price: $322,434
- Median Price: $286,500
- Total Volume: $39,981,856
- Average Negotiating Discount: 1.14%
- Average Days on the Market: 49

13 ACTIVE UNDER CONTRACT/PENDING single-family homes
- Average Price: $367,915
- Median Price: $375,000
- Average Days on the Market: 122

8 ACTIVELY LISTED single-family homes
- Average Price: $564,613
- Median Price: $359,500
- Average Days on the Market: 257

Charts illustrating portions of the above information can be found below, followed by a complete list of all 124 properties that sold during the full year of 2020.

A list of all 124 properties that sold/closed in Lebanon during FY 2020 is below.

60 Spencer Street, Lebanon, NH	$40,500
60 Spencer Street, Lebanon, NH	$80,000
11 Trues Brook Road, Lebanon, NH	$85,000
423 Meriden Road, Lebanon, NH	$91,000
56 Mascoma Street, Lebanon, NH	$115,000
36 Church Street, Lebanon, NH	$120,000
26 Messenger Street, Lebanon, NH	$121,000
32 West Street, Lebanon, NH	$132,000
15 Peabody Street, Lebanon, NH	$164,500
34 Elm Street, Lebanon, NH	$170,000
1 Valley Street, Lebanon, NH	$175,000
1 Edwards Street, Lebanon, NH	$180,000
34 S Main Street, Lebanon, NH	$185,000
92 Mechanic Street, Lebanon, NH	$188,000
331 North Main Street, Lebanon, NH	$196,500
15 Shaw Street, Lebanon, NH	$205,000
136 Trues Brook Road, Lebanon, NH	$210,000
250 Dartmouth College Highway, Lebanon, NH	$210,000
378 Dartmouth College Highway, Lebanon, NH	$210,000
427 Dartmouth College Highway, Lebanon, NH	$215,000
153 Bank Street Extension, Lebanon, NH	$215,000
156 Dartmouth College Highway, Lebanon, NH	$219,000
423 Plainfield Road, Lebanon, NH	$220,000
9 Crawford Avenue, Lebanon, NH	$223,000
32 Floyd Avenue, Lebanon, NH	$225,500
104 School Street, Lebanon, NH	$229,000
171 Meriden Road, Lebanon, NH	$229,000
38 Guyer Street, Lebanon, NH	$230,000
2 Downes Avenue, Lebanon, NH	$230,000
84 Mechanic Street, Lebanon, NH	$232,750
92 School Street, Lebanon, NH	$235,000
34 Young Street, Lebanon, NH	$239,900
144 Hanover Street, Lebanon, NH	$240,000
22 Colburn Street, Lebanon, NH	$240,000
10 Farman Avenue, Lebanon, NH	$244,000
177 Hardy Hill Road, Lebanon, NH	$245,000
13 Perley Avenue, Lebanon, NH	$245,000
187 Etna Road, Lebanon, NH	$246,000
147 Slayton Hill Road, Lebanon, NH	$250,000
4 Laro Street, Lebanon, NH	$250,000
11 Amsden Street, Lebanon, NH	$255,000
158 Mascoma Street, Lebanon, NH	$258,000
13 Pleasant Street, Lebanon, NH	$260,000
57 Maple Street, Lebanon, NH	$260,000
263 Meriden Road, Lebanon, NH	$260,000
58 Daisy Hill Road, Lebanon, NH	$260,000
29 Highland Avenue, Lebanon, NH	$260,000
4 Downes Avenue, Lebanon, NH	$265,000
14 Pasture Lane, Lebanon, NH	$267,500
8 Johnson Avenue, Lebanon, NH	$268,500
4 Floyd Avenue, Lebanon, NH	$269,000
43 Seminary Hill Road, Lebanon, NH	$270,000
37 Sunset Rock Road, Lebanon, NH	$270,000
9 Guyer Street, Lebanon, NH	$275,000
387 Meriden Road, Lebanon, NH	$275,000
61 Young Street, Lebanon, NH	$275,000
9 Hough Street, Lebanon, NH	$277,000
32 Monica Road, Lebanon, NH	$277,500
19 Fairview Avenue, Lebanon, NH	$278,000
46 Church Street, Lebanon, NH	$280,700
94 Trues Brook Road, Lebanon, NH	$281,000
18 Crafts Avenue, Lebanon, NH	$285,000
75 Mountain View Drive, Lebanon, NH	$288,000
17 Williams Street, Lebanon, NH	$290,000
98 True's Brook Road, Lebanon, NH	$292,000
10 Prospect West Street, Lebanon, NH	$299,900
165 Bank Street Extension, Lebanon, NH	$300,000
213 Poverty Lane, Lebanon, NH	$303,500
218 Hardy Hill Road, Lebanon, NH	$305,000
22 Carlton Drive, Lebanon, NH	$305,000
62 Mountain View Drive, Lebanon, NH	$310,000
59 Mountain View Drive, Lebanon, NH	$310,000
3 Timothy Avenue, Lebanon, NH	$310,900
46 Mascoma Street, Lebanon, NH	$311,000
2 Dulac Street, Lebanon, NH	$313,500
1 Waterman Avenue, Lebanon, NH	$320,000
23 Farr Road, Lebanon, NH	$320,000
26 Bassy Street, Lebanon, NH	$320,000
16 Payne Road, Lebanon, NH	$320,000
9 Pearl Street, Lebanon, NH	$325,000
131 Prospect Street Extension, Lebanon, NH	$331,500
28 Wheatley Street, Lebanon, NH	$334,000
50 Prospect Street, Lebanon, NH	$335,000
120 Heater Road, Lebanon, NH	$355,000
26 Crafts Avenue, Lebanon, NH	$365,000
40 Brook Road, Lebanon, NH	$365,000
90 Trues Brook Road, Lebanon, NH	$368,000
122 Heater Road, Lebanon, NH	$380,000
65 Elm Street, Lebanon, NH	$389,000
11 Gilson Road, Lebanon, NH	$390,000
51 Daisy Hill Road, Lebanon, NH	$390,000
11 White Birch Lane, Lebanon, NH	$394,310
7 White Birch Lane, Lebanon, NH	$398,540
32 Slayton Hill Road, Lebanon, NH	$399,000
12 White Birch Lane, Lebanon, NH	$401,100
72 Buckingham Place, Lebanon, NH	$401,500
16 White Birch Lane, Lebanon, NH	$402,450
84 Dogwood Circle, Lebanon, NH	$405,000
10 White Birch Lane, Lebanon, NH	$406,970
248 Poverty Lane, Lebanon, NH	$410,000
5 Lash Road, Lebanon, NH	$413,000
22 White Birch Lane, Lebanon, NH	$413,635
1 Beacon Road, Lebanon, NH	$416,000
86 Dogwood Circle, Lebanon, NH	$419,900
1 Jones Avenue, Lebanon, NH	$430,000
33 Eldridge Street, Lebanon, NH	$432,500
13 White Birch Lane, Lebanon, NH	$432,635
19 Messenger Street, Lebanon, NH	$434,000
2 White Birch Lane, Lebanon, NH	$434,863
90 Bank Street, Lebanon, NH	$435,000
3 White Birch Lane, Lebanon, NH	$445,303
6 Allen Street, Lebanon, NH	$450,000
13 Skylark Road, Lebanon, NH	$464,500
314 Poverty Lane, Lebanon, NH	$469,500
28 Oak Ridge Road, Lebanon, NH	$551,000
17 Stagecoach Road, Lebanon, NH	$555,000
122 Buckingham Place, Lebanon, NH	$560,000
39 Wildwood Drive, Lebanon, NH	$573,000
19 Eagle Ridge Drive, Lebanon, NH	$600,000
47 Sunset Rock Road, Lebanon, NH	$651,000
40 Crafts Hill Road, Lebanon, NH	$720,000
65 Farr Road, Lebanon, NH	$725,000
29 Old King's Highway, Lebanon, NH	$795,000
109 Eastman Hill Road, Lebanon, NH	$1,287,000

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

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