The Registry Review, Oct. 5, 2020

Page 1

Vol.42, No.41

www.thewarrengroup.com

W E E K O F M O N D A Y, O C T O B E R 1 2 , 2 0 2 0

THE REGISTRY REVIEW NEW HAMPSHIRE’S STATEWIDE REAL ESTATE & FINANCIAL NEWSPAPER A Publication of The Warren Group

WEEKLY SALES OF NOTE

LOOKING FOR LUMBER

Nashua 272 DANIEL WEBSTER HWY. . . . . . . . . . . . . . . . . . . . $6,500,000 B: Nashua 272 Rlty Vent LLC BAddr: PO Box 262 NORWOOD MA 02062 S: Tru 2005 Rei LLC Mtg: Northern Bk & Tr $5,200,000 Use: Retail-department Store, Lot: 1340

Claremont

Lumber Prices Hit Record Highs Nationwide Supply Chain Issues, Tariffs and DIY-ers Cut Into Availability BY KEITH LORIA SPECIAL TO THE REGISTRY REVIEW

2 WINTER ST U:MULTI. . . . . . . . . . . . . . . . . . . . . . . . .$6,200,000 B: Princeton Claremont LLC S: DLC Claremont LLC Use: Condo

Nashua 17 DUMAINE AVE . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,000,000 B: 23 Dumaine LLC BAddr: 400 Bedford St MANCHESTER NH 031 S: Fat Boys Realty LLC Tr, Tr for Harve Mtg: Primary Bank $2,053,224 Use: Commercial Potntl Dvlp Land, Lot: Prior Sale: $3,300,000 (12/07) 17 DUMAINE AVE . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,000,000 B: 23 Dumaine LLC BAddr: 400 Bedford St MANCHESTER NH 031 S: Fat Boys Realty LLC Tr, Tr for Harve Mtg: Primary Bank $2,053,224 Use: Industrial Warehouse, Lot: 145926s Prior Sale: $2,036,700 (03/10)

Concord TUSCANY VILLAGE U:1-26. . . . . . . . . . . . . . . . . . . . . $3,726,733 B: RJM Family Properties LLC BAddr: 305 Massabesic St MANCHESTER NH S: Moreau R J Communities Use: Condo

Alton 96 HOPEWELL RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,125,000 B: John I Vallerand & Robin N Vallerand BAddr: 5 Michael Dr BURLINGTON MA 01803 S: Randall Cail & Sarah Cail Mtg: Stoneham Cp Bk $999,999 Use: 5 Bdrm Contemporary, Lot: 207346sf Prior Sale: $2,750,000 (10/15)

Concord 23 CABERNET DR U:1-4. . . . . . . . . . . . . . . . . . . . . . . $3,080,000 B: Jal Properties LLC BAddr: 172 Rte 101 Unit 25c BEDFORD NH S: Moreau R J Communities

Meredith 126 POWERS RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,875,000 B: William D Goebel & Cheryl A Goebel BAddr: 12 Orchard Hill Dr WESTBOROUGH M S: Cont&Adirondack Exquisite Mtg: Bank of America NA $2,000,000 Use: 5 Bdrm Contemporary, Lot: 20473sf Prior Sale: $675,000 (11/16)

S

oftwood lumber prices increased nearly 50 percent since April, including a 14.9 percent climb in August – the largest four-month growth since the Bureau of Labor Statistics started tracking the data. Skyrocketing prices in lumber have smashed the prior record recorded in 2018, said David Logan, tax and trade director for The National Association of Home Builders (NAHB).

“Since April 2020, lumber prices have added $16,000 to the cost of building a new single-family home.” – Sharon Wayman, executive director, New Hampshire Home Builders Association “It’s more than 50 percent higher than that prior record,” he said. “The severity of the price increases differs slightly by region, but everyone in the country is facing the highest lumber prices they have ever seen.” That obviously creates some challenges for those working in New Hampshire’s homebuilding industry, as the soaring prices have impacted all contractors nationally. “Since April 2020, lumber prices have added $16,000 to the cost of building a new single-

REAL ESTATE RECORDS

$310,000 310000

3 Belknap �������������������������� 09/25/20 4 Carroll ���������������������������� 09/25/20 5 Cheshire ������������������������ 09/25/20 5 Coos �������������������������������� 09/25/20 5 Grafton ���������������������������� 09/25/20 6 Hillsborough ������������������ 09/25/20 8 Merrimack ���������������������� 09/25/20 9 Rockingham ������������������ 09/25/20 12 Strafford ������������������������ 09/25/20 13 Sullivan �������������������������� 09/25/20 15 Bankruptcies 15 Lien & Attachments 15 Foreclosure, Mortgagee & Other Lien Auctions 15 Requests for Bids & Proposals

$290,000 290000 $270,000 270000 $250,000 250000

Aug. Sept. Sept. Oct. Oct. Nov. Nov. Dec. Dec Jan. Jan. Feb. Feb. Mar. Mar. Apr. Apr. May May June June July July Aug. Aug. Aug. ’19

’20

Number 350000 of Sales $350,000 320000 $320,000

Year

Median Price

Change Prior Year

290000 $290,000

Aug. 2016

$250,000

3.19%

260000 $260,000

Aug. 2017

$259,533

3.81%

230000 $230,000

Aug. 2018

$273,000

5.19%

Aug. 2019

$295,000

8.06%

Aug. 2020

$333,000

12.88%

200000 $200,000

Aug.

Aug. ’16

Aug.

Aug. ’17

Aug.

Aug. ’18

Aug.

Aug. ’19

Aug.

Aug. ’20

Continued on Page 16

TO OUR CUSTOMERS

T

$350,000 350000 $330,000 330000

TRANSACTIONS THRU

Most of the reasons for the increase are related to issues brought on by the COVID-19 pandemic; Logan said there are both supply and demand reasons for the price spike. “In the first two to three months of the pandemic, certain businesses were not considered substantial. Forecasting that demand for the

Single-Family Median Sales Price

INDEX PG COUNTY

Reasons for the Increase

product would decline precipitously, lumber mills curtailed operations significantly from March into June, in some cases upwards of 50 percent,” he said. “When we got back into building mode, there was very little inventory sitting there to work with.” Meanwhile on the demand side, no one anticipated the surge in do-it-yourself projects. “We had a lot of people staying at home looking to complete projects they hadn’t had time to do before, so we saw this big surge in lumber by big box retailers,” Logan said. “The housing sector got off to a much quicker restart than anyone predicted and the supply lags behind what the country needs to build.”

NEW HAMPSHIRE MARKET STATISTICS

Sandwich 26 METCALF RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,575,000 B: James C Burkhardt & Karen A Miller BAddr: 10700 Creamcup Ln GREAT FALLS VA S: Mills Family LP

family home,” said Sharon Wayman, executive director of the New Hampshire Home Builders Association (NHHBA). “Contractors that I have spoken with are not only concerned about the rise in the cost of lumber but also the length of time it takes to get the materials needed to complete a project.”

q Statistics based on single-family home sales of $1,000 q Source: The Warren Group

©2020 The Warren Group Inc. All rights reserved. No part of this publication may be reproduced without the written consent of the publisher.

he Warren Group is making every reasonable effort to collect real estate data during these unprecedented times. As more registries restrict access and courts close down, we anticipate further collection issues and as a result you will see fewer sales, notices and liens in The Registry Review. We will publish this information as it is available. We apologize for any inconvenience this crisis may cause, and we thank you for your understanding and continued support of our newspapers. Please call or email customer service at 617-896-5388 or customerservice@thewarrengroup.com if you have any questions. All collection issues are also available on our website, www.thewarrengroup.com/data-collection-issues. Sincerely, Cassidy Norton, Associate Publisher The Warren Group


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