Hanover Sale Prices Trail Disclosure as Six of Ten Deeds Are Family Trust Transfers

HANOVER -- Ten property deeds were recorded in Hanover between July 3 and Aug. 1, but only four listed a sale price. Six of the ten transfers moved property from an individual owner into that same person's own trust, a pattern that limits what can be said about the broader market this period.

MARKET OVERVIEW

Ten sales were recorded in the period. Of those, four disclosed a consideration amount, ranging from $200 to $710, with a median of $564 among the disclosed sales. The other six listed no price, consistent with trust and estate transfers, where deed data often omits consideration. With only four priced transactions to compare, the raw count of ten recorded deeds does not by itself indicate whether the period was active or quiet; disclosed pricing data is too sparse to characterize market pace.

TOP SALES

305 Hanover St. sold for $710, the highest disclosed price of the period, recorded July 7. Sellers Albert J. Nogler and Lisa Nogler transferred the property to Christopher Howell and Rachel Howell.

113 Bradford Rd. sold for $625, recorded July 9. Sellers Jon Nassif and Jessica Nassif transferred the property to Cameron Drew and Alison Drew.

250 Main St. sold for $504, recorded July 7. The property transferred by attorney from Richard D. Uloth (with Kimberly A. Uloth acting as attorney) to Dova Properties Inc.

53 Franklin Rd. sold for $200, recorded July 14. Seller John J. Downey transferred the property to Foundation Holdings LLC.

The remaining six recorded transfers listed no sale price: 45 Birchwood Rd., 89 Stonegate Ln., 987 Broadway, 70 Franklin Rd., 570 Whiting St. and 168 Myrtle St.

NEIGHBORHOOD BREAKDOWN

Franklin Road had two recorded transfers in the period -- 53 Franklin Rd. ($200, sold to Foundation Holdings LLC) and 70 Franklin Rd. (price not disclosed, a trust transfer) -- the only street with more than one recorded deed this period. No other street repeated. Among the four disclosed sales, one fell under $500 (53 Franklin Rd. at $200) and three fell in the $500-to-$710 range (250 Main St., 113 Bradford Rd. and 305 Hanover St.). The six undisclosed-price transfers were spread across six separate streets with no geographic clustering.

MARKET NOTES

Every transfer with no disclosed price in this period was a trust transfer in which the grantor and grantee share the same name or family surname: Norman V. Sims Jr. to his own revocable trust (45 Birchwood Rd.); Janice V. Baldinelli to a family trust (89 Stonegate Ln.); Christopher Walsh and Kiriaki Fotiadis to trusts in their own names (987 Broadway); William Farrell and William V. Farrell to William V. Farrell Tr. and Gina M. Caruso Tr. (70 Franklin Rd.); Paul M. Spitz and Karen L. Spitz to trusts in their own names (570 Whiting St.); and Katy Lynne Hamilton to the Hamilton Revocable Trust (168 Myrtle St.). By contrast, all four transfers with a disclosed price involved buyers and sellers with different surnames, including two purchases by limited liability companies -- Foundation Holdings LLC at 53 Franklin Rd. and Dova Properties Inc. at 250 Main St. Beds, baths and square footage were not available in the deed data for any property in this period.

Recorded Deeds

Source: Registry of Deeds. Sale amounts shown as recorded; transfers without a disclosed consideration are noted as such.

Jul 6 - Jul 12

Jul 13 - Jul 19

Compiled from official town feeds, community organizations, and local press. Outside reporting is attributed inline.