Lake Winnipesaukee Waterfront Sales Report 3rd Quarter 2008
Since the bad news on Wall Street seems to continue on a daily basis and is undoubtedly affecting us all one way or another, I wanted to give you an update on the current real estate market on Lake Winnipesaukee which might help cheer you up!
We are very fortunate that the real estate market in NH is no where near as bad as the rest of the country. There certainly has been a drop in the number of homes sold this year in the Lakes Region compared to the past few years and inventory levels are high. But homes are still selling. If you look at all of the residential properties that have sold so far this year we have experienced about a 9-10% drop in the average sales price of a home.
However, if you look at the chart below (which is for Winnipesaukee waterfront sales only), you will see that while the total number of sales is down, the average price of Lake Winnipesaukee waterfronts has actually seen a slight increase over last year. I think that is a testament to the old adage that goes “they aren’t making any more water front”. These numbers should give waterfront owners some piece of mind knowing that their property investment is pretty sound and that values are still there if you want to or need to sell your property.
Lake Winnipesaukee Waterfront and Island Property Sales
|
First 3 quarters of: |
Total Number of Sales |
Avg. Asking Price |
Average Sales Price |
% of Sales Price to Asking Price |
Days on Market |
|
2006 |
65 |
$1,370,669 |
$1,266,349 |
92% |
161 |
|
2007 |
80 |
$1,227,755 |
$1,144,386 |
93% |
144 |
|
2008 |
52 |
$1,468,769 |
$1,335,535 |
91% |
192 |
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