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Lakes Region Waterfront Sales Report - August 2011

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Posted 09-19-2011 at 07:09 AM by Roy Sanborn

August was a great month for sales on Lake Winnipesaukee.
There were:
Eighteen waterfront sales at an average price of $827,589.
• They sold at an average of 97% of their assessed value
• They sold at an average of 91% of the asking price.
• The highest sale was $1.669 million.
• There were 6 sales over $1 million.

Last August there were 14 sales on the big lake, but the average sales price was bit higher at $1.1 million. Six of those sales were over the $1 million mark as well but a $3.1 million boosted the average sales price. Anyway, it is good to see waterfronts selling well given the lackluster sales for the rest of the Lakes Region Market.

The least expensive sale was at 300 Cow Island in Tuftonboro. Cow Island is sometimes called Guernsey Island as it was once used to quarantine cows brought from Europe (so the story goes). This property was a 1954 vintage, four bedroom cottage that was in great shape and had been owned by the same family since those cows were still there. The fully furnished cottage has been completely updated and has a new wrap-a-round deck. There’s also a separate furnished guest cottage and a workshop. There are two lots of record with 150’ of frontage, a large U shaped dock, and stunning views. This property was on the market for 837 days starting at $450,000 and had been reduce to $349,900. It may have been on the market a while, but it only took 7 days to close the deal after the happy new owner came ashore to look. The sales price was $329,000 which is just under the tax assessed value of $335,100.

The most expensive sale on the lake was at 76 West Point Road in Moultonborough. This 3,826 square foot, like-new Adirondack home was built in 2002 . It has four bedrooms, four baths, a great room with the requisite floor to ceiling stone fireplace, lots of wood, and a wall of glass for viewing the lake. There are master suites on the first and second floors and the lower level walkout has two bedrooms, a huge family room, and a pub where you can watch the ballgames. The detached three car garage has a finished second floor that can serve as additional guest space or an office. The home sits on a 1.5 acre lot with 200’ of frontage, a dock, and sensational sunset views. This home was listed at $1.769 million and sold for $1.668 million after only 113 days on the market. The town’s tax assessment value is $1.63 million.

Three homes changed hands on Winnisquam last month at an average sales price of $685,891. In August 2010, there were two sales at an average of $723,125. The largest sale on Winnisquam last month was at 98 Swain Road in Meredith. This 3,549 square foot, three bedroom, four bath home in Waldron Bay has an open floor plan with a custom kitchen, beautiful great room with cathedral ceilings and stone fireplace, lower level family room, first floor master with a gas fireplace and private deck, and an enclosed porch overlooking the lake. There are great lake views from every room. This home sits on a nicely landscaped .88 acre lot with 193 feet of frontage that has a sandy entry and dock. This home was listed in 2009 for $1.17 million, relisted this year at $999,950, and sold for $935,000 after just 36 days on the market. The property is currently assessed for $788,500.

Once again, there were no sales on Squam last month which is a little discouraging. There have only been five sales on Golden Pond so far this year. There are currently 24 properties available on Squam that have been on the market an average of 294 days. Maybe, someone has to make another movie up there…

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