Buying a condo in the Upper Valley today is dramatically different then it was just a few short years ago. As with all housing in our region, supply has dwindled relative to demand as virtually no new condo complexes have been built recently or are being built now. The last complex to be built in the area, Treetops in Lebanon sold out in 2021 when an investment banker bought the last 30 plus units to hold as a rental investment. This clearly speaks to the lack of housing options in the area and what quality living space is worth in the current market when Wall Street investors are buying up our housing stock.
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Generally speaking, if you are looking for a condo in the Upper Valley you are restricted to the Towns of Hartford and Norwich on the Vermont side and the Towns of Lebanon, Hanover, Lyme, Enfield, Grantham, New London, Sunapee and Newbury in New Hampshire.
Hartford condo options are dominated by Quechee Lakes with Simpson Construction built condos at Woodhaven and Hemlock Ridge being the other sizable developments with amenities such as a pool and tennis court. Sterling Springs, Oak Knoll, Ledgestone Commons, and Stoney Creek are other examples of Hartford complexes where resales are prevalent. At this time there are no new condo complexes under construction in the Town of Hartford that we are aware of. As a result, pricing in all these complexes has increased dramatically over the past couple years with most selling for 50-100% higher prices then pre-2020.
On the New Hampshire side of the river the story is much the same with Eastman dominating the condo scene in terms of units and on-site amenities. Eastman condos have enjoyed a surge in demand these past few years as Buyers have gravitated towards a slower paced life that still offers amenities they value. Condo complexes like Quarry Hill and Morgan Drive in Lebanon, Brook Hollow, College Hill and the Courtyards in Hanover along with Shaker Landing and Lakeview in Enfield have also enjoyed a surge in demand as Buyers have sought housing close to work, Town or waterfront. For those focused on enjoying Lake Sunapee or Mount Sunapee and it’s skiing the Towns of Newbury, New London and Sunapee offer a variety of condo options.
While purchasing a condo was once considered a lifestyle choice exclusively for those looking for maintenance free living, in today’s market it is more about what you value in your backyard. Are you looking for walk to Town or work? Is Lake or Golf Course access important to your lifestyle? Sure, maintenance free living in exchange for paying condo dues is still an important factor, lifestyle or simply having a roof over your head is clearly the driver for most Buyers today.
We at Housing Solutions Real Estate know the condo options in our region, if you need help sorting through the options please contact us.