LYME MARKET AREA
The Lyme, New Hampshire real estate market saw eighteen (18) sales of single-family homes in 2021, down from a record-breaking thirty (30) sales in 2020. As of December 31, there were an additional two (2) single-family homes active under contract or pending and likely to close within the coming months.
Snyder Donegan was pleased to assist six (6) buyers and sellers of all closed Lyme transactions in 2021.
Despite total sales being down, the average price of homes sold hit its highest point since 2012 by jumping to $748,979, while buyers paid closer to sellers’ asking prices than ever before as reflected in the average negotiating discount hitting an all-time low of 0.78%. In fact, buyers paid either at or above asking price in eleven (11) of the 18 transactions on the year. With inventory lasting a record-low 80 days on the market prior to sale, Lyme buyers proved they were willing to act fast and pay more in 2021 than ever before.
Inventory is now at an historic low, however, as there were no single-family homes actively listed on the market as of December 31. Though we remain optimistic about the 2022 market, Lyme will need a considerable infusion of listings to satisfy what we expect to be continued strong buyer demand.
GREATER HANOVER-LEBANON MARKET AREA
Like the GWA market, the Greater Hanover-Lebanon market area (Hanover, Hartford, Lebanon, Lyme, Norwich, Plainfield, Strafford) registered its second-highest total number of transactions in history with 401 sales of single-family homes, shy of 2020’s record of 439. Buyers paid either at or above a seller’s asking price in 266 of the 401 sales that transacted over the year, with the average price of a home reaching a record $620,277.
Not surprisingly, these record totals have left a vacuum in terms of available inventory, as there were just eighteen (18) single-family homes actively listed in the entire Greater-Hanover market area on December 31, 2021, down from twenty-eight (28) at the same point in 2020 and down sharply from the eighty-four (84) available at this time in 2019.
In regard to luxury sales, the Greater Hanover-Lebanon market area saw a record fifty-seven (57) sales of homes that sold/closed for $1 million or more, shattering the previous record of thirty-six (36) set in 2020. The town of Hanover alone recorded thirty (30) luxury sales, its highest total in history. Snyder Donegan was pleased to represent nineteen (19) of the buyers and/or sellers of those luxury properties, including the highest priced sale in Norwich 2020 (180 Birch Hill Lane –$3.375 million).
LYME FY 2021 BY THE NUMBERS
- 18 SOLD single-family homes
- Average Price: $748,979
- Median Price: $607,500
- Total Volume: $13,481,615
- Average Negotiating Discount: 0.78%
- Average Days on the Market: 80.6
- 2 ACTIVE UNDER CONTRACT/PENDING single-family homes
- Average Price: $667,000
- Average Price: $667,000
- Average Days on the Market: 58.5
- 0 ACTIVELY LISTED single-family homes
Charts illustrating portions of the above information can be found below, followed by a list of the 18 properties that closed during FY 2021.
A list of all 18 properties that sold/closed in Lyme during FY 2021 is below.
| 47 Goose Pond Road, Lyme, NH | $169,615 |
| 667 River Road, Lyme, NH | $260,000 |
| 301 Orford Road, Lyme, NH | $307,000 |
| 53 Dorchester Road, Lyme, NH | $345,000 |
| 4 & 5 Creamery Lane, Lyme, NH | $450,000 |
| 43 Pico Road, Lyme, NH | $525,000 |
| 16 Pleasant Street, Lyme, NH | $525,000 |
| 114 Dartmouth College Highway, Lyme, NH | $580,000 |
| 307 River Road, Lyme, NH | $600,000 |
| 129 Franklin Hill Road, Lyme, NH | $615,000 |
| 136 River Road, Lyme, NH | $675,000 |
| 35 Pinnacle Road, Lyme, NH | $700,000 |
| 50 Old Dorchester Road, Lyme, NH | $725,000 |
| 3 Preston Road, Lyme, NH | $840,000 |
| 651 River Road, Lyme, NH | $1,000,000 |
| 95 Whipple Hill Road, Lyme, NH | $1,230,000 |
| 7 Tavern Lane, Lyme, NH | $1,435,000 |
| 155 River Road, Lyme, NH | $2,500,000 |