It is to be expected that showings and sales on waterfront properties in the Lakes Region of NH would be slower in the winter months than in the summer. We always see tire kickers, dreamers, and wanna-be’s in the summer months but we also get most of the buyers in the warmer months. But, the buyers that are out scouting and viewing homes during the winter are probably a little more serious. They are the ones that would like to buy now and be into their waterfront retreat by ice out so they can be there to enjoy the entire boating season. That would definitely be my plan!

In January 2010 there were six properties on Winnipesaukee that changed hands at an average sales price of $1.45 million. That may not seem like a lot, but in January 2009 there was only one sale for $700,000, in Jan. 2008 only four at an (more…)

Winnipesaukee Waterfront Sales Report December 2009

After a very busy November on the the big lake we finished off the year with 3 more waterfront sales with a volume total of a little over $4 million.  The largest sale was in Meredith on Wagon Wheel Trail for $2.99 million, one in Moultonborough on Homestead Lane for $610,000, and one down in Alton on Farmington Rd for $500,000.

Click on the picture for details of these sold properties.

 As always, you can see the latest waterfront listings on Lake Winnipesaukee by clicking here or you can get information on and search for waterfront on any lake in the Lakes Region of NH by clicking here!

Lakes Region Home is you best source for exploring all the communities and homes in the beautiful Lakes Region of NH and Lakes Region Real Estate News will ensure that you are armed with all the latest market trends and data!

Winnipesaukee and Winnisquam 3^rd Quarter Waterfront Sales Report –Lakes Region of NH

 It is great to report that the waterfront sales on Lake Winnipesaukee and Lake Winnisquam seem to have held their own over the summer season despite a downturned economy and general reluctance on the part of everyone to buy just about anything. Astute buyers still recognize that waterfront properties are a great place to invest their money. Unlike the stock market and other investment opportunities, buying a waterfront is a tangible, secure investment right now and is something that can really be enjoyed.

In the 3^rd quarter of 2009 there were 26 sales on Winnipesaukee (including island properties) at an average price of $1,076,621. There were 7 homes sold at over $1 million with the highest sale being the property at 55 Broadview Terrace in Gilford that changed hands for a mere $6.5 million.  This is a 11,464 square foot, 6 bedroom, 8 bath home constructed in 2005 sitting on a 1.59 acre lot with 270 feet of frontage. Obviously, this is a fantastic home with all the amenities and quality one would expect at that price.

Year to date, there have been 55 waterfront transactions on the big lake at an average price of $960,961 with a total sales volume of $52.85 million. That represents about 40% of the total sales volume for all the residential properties in the towns that share the waterfront on Winnipesaukee. So how does that compare to last year? In 2008 there were 53 waterfront transactions over the same time period with an average price of $1,314,639 and a total sales volume of $69.68 million. That sales volume represented about 39% of the total sales volume for the same period last year. Pretty consistent.

Sales on Lake Winnisquam got off to a real slow start in the first six months of the year with only 2 sales. However, in the 3^rd quarter there were 9 transactions at an average of $529,667 and a total volume of  almost $4.8 million. The highest sale was at 87 Collins Brook Rd in Meredith at $740,000 for a 4,572 square foot, 14 room, 6 bedroom home, with 170 feet of frontage. The 11 transactions year to date on Lake Winnisquam came in at an average price of $495,409. That average is down from the $620,250 average posted in 2008 but the total sales are up from 8 sales in the first three quarters of 2008.

As with the residential market in general, the average prices on waterfront properties are down a bit signaling that there are some good deals out there for those buyers looking for their slice of the Lakes Region waterfront pie. Currently there are 27 properties available on Winnisquam ranging from $275,000 to just under $2 mil. On Winnipesaukee there are over 130 properties available where you can spend as little as $200,000 for an island property and just under $400,000 for a mainland direct waterfront access. So if you are looking for a waterfront retreat now is the time. I’d be happy to help, especially if you want to match that $6.5 million sale last month!

Waterfront property sales in the Lakes Region are obviously a very important segment of our local real estate market. After all, we are the Lakes Region, and people come here to vacation and play year after year. Not surprisingly, many visitors end up wanting to buy their own little piece of paradise on the waters edge. Waterfront sales are also a good indicator of the strength of the overall market and perhaps even our local economy. Waterfront property is, and will continue to be, one of the most expensive kinds of real estate you can buy here or anywhere else for that matter. The old saying “they ain’t making any more waterfront” has never been more true. So did buyers continue to see value on the water in the Lakes Region in 2008? A quick look at sales on Winnipesaukee and Winnisquam will tell the story.

There is no doubt that the overall real estate market in 2008 in terms of the total number of sales was down in every price range. It is not surprising, therefore, that the number of sales on Winnipesaukee and Winnisquam were both down in 2008 compared to previous years as well. It is just a sign of the bad economic times and it shows that some buyers are holding off purchasing that waterfront home of their dreams. In 2008 Winnipesaukee registered 76 sales compared to 115 in 2007. That is also just about half the sales recorded in 2004. Winnisquam had  just 10 sales in 2008 which is also about half the number for a normal sales year.

So maybe not as many people were buying in 2008, but the good news is that on both lakes the average sales price compared to 2007 went up. We now stand at $1,217,880 on the big lake. Except for a big spike in prices in 2006 which caused 2007 to look a little off, the average sales price on Winnipesaukee has gone up every year.  The average price on Winnipesaukee has almost doubled from the $637K average price registered back in 2000. The average sales price on Winnisquam broke the $600,000 mark which indicates how popular and desirable the big lake’s little sister has become. The fact that sales prices on the lakes have held up should give buyers of lakefront property assurance that their investment will increase in value over time and give current waterfront owners the confidence that values are there for them if they decide to sell.

The breakdown of sales by town on Winnipesaukee shows that Moultonborough leads the way in terms of total sales followed by Meredith and Gilford. That is not surprising due to the sheer number of waterfront homes in Moultonborough and the very low property tax burden there which makes it a very desirable town to live in. That’s definitely where I am headed as soon as I can save up my down payment!

Winnipesaukee Waterfront Sales Including Island Property

	Total Sold	Median Sales Price	Average Sales Price	% Sold to List Price
2004	150	$874,500	$1,052,026	93%
2005	121	$890,000	$1,144,289	93%
2006	108	$985,000	$1,234,276	92%
2007	115	$875,000	$1,168,190	91%
2008	76	$926,250	$1,217,880	91%

  

Winnisquam Waterfront Sales Report

	Total Sold	Median Sales Price	Average Sales Price	% Sales to List Price
2004	22	$495,000	$585,127	92%
2005	21	$450,000	$545,352	97%
2006	21	$560,000	$564,705	95%
2007	14	$497,000	$517,143	96%
2008	10	$629,500	$602,700	92%

Winnipesaukee 2008 Waterfront Sales Report

Town	Total Sold	Median Sales Price	Ave Sales Price	% Sold to List Price
Alton	8	$1,231,250	$1,215,938	90%
Center Harbor	-	-	-	-
Gilford	14	$703,500	$1,329,571	88%
Laconia	4	$527,500	$728,750	96%
Meredith	17	$916,500	$1,064,824	92%
Moultonborough	21	$1,000,000	$1,227,445	94%
Tuftonboro	7	$635,000	$756,286	89%
Wolfeboro	5	$2,600,000	$2,570,000	91%

On the waterfront…   We are halfway through the year and it seems appropriate to take a look and see how waterfront properties on the four major lakes in the Lakes Region are selling. Waterfront sales are a huge part of our total real estate market.  It is pretty clear to see from the following charts that most waterfront sales occur in the second half of the year, but it is worth a look to see how the first half sales stack up against prior years. All  the numbers in the chart are derived from sales occurring between Jan. 1 and June 30 of each year. These sales also include island properties.
 
Sales on Lake Winnipesaukee are off to a slower start than the past three years. We are down about 35% from last year but show an increase of $286,779 in the average sale price. Twenty of the thirty three sales were over $1 million. Eight of those million dollar plus sales were in Moultonborough. Gilford, Meredith, and Alton each posted three sales, and Laconia, Meredith, and Wolfeboro had one sale each.
 
Winnisquam, Squam, and Newfound lakes don’t have the sales volume of Winnipesaukee. After all, Winnipesaukee is a much larger lake bordering eight communities.  Winnisquam is the more affordable of the four lakes listed and posted four sales with a slightly lower average sales price than last year. Squam Lake had the highest average sales price of the four lakes in 2007 and posted two sales so far this year but dropped $400,000 in the average sales price. Newfound has had only one sale so far at an entry level price of $330,000.  With far fewer sales on these three lakes, lower average sales numbers don’t necessarily point to lower overall waterfront prices. They more likely reflect the lower values of the particular properties that sold. In any event, waterfront sales are a good indicator of how well the Lakes Region economy is doing overall, so let’s hope for a strong second half of the year.

Winnipesaukee Sale Jan - June 2008

Winnisquam Sales Jan - June 2008

Squam Sales Jan - June 2008

Newfound Sales Jan-June 2008

Sales were down in December which is to be somewhat expected as we head into the slower winter months. We expect to see the serious waterfront buyers returning after the holidays to check out the inventory of homes on the big lake so that they can be into their new home by the time spring rolls around. If you are looking for a detailed report that will help you identify the good buys on Lake Winnipesaukee, don’t hesitate to contact me.

Click on this link to view report:

december-2007-lake-winnipesaukee-sales.doc

Here’s a report of all the sales on the Big Lake in November of 2007. Who says you can’t sell a waterfront when it is cold outside??

Click on this link to view report:

nov-2007-winnipesaukee-sales.doc