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Winnipesaukee and Winnisquam Waterfront Sales Report- September 2012

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Posted 10-13-2012 at 01:05 PM by Roy Sanborn

September 2012 was a very good month for waterfront sales on Lake Winnipesaukee with thirteen transactions at an average price of $1.371 million. The median price point came in at $1.4 million as nine of those thirteen sales exceeded the million dollar mark. Last September, there were seven sales on the big lake at an average of $714,357. Year to date there have been 93 sales on Winnipesaukee at and average price of $1.104 million compared to 76 sales at an average of $1.041 million for the first three quarters last year. That's a 23% increase in sales so far this year. Pretty darn good, I’d say.

The least expensive sale for the month was a 1975 vintage, 2,622 square foot, year round, two bedroom cottage at 29 Peggy’s Cove Road in Alton. The cottage, which is just steps to the water, features lots of natural woodwork, cathedral ceilings, a family room in the basement, gas stoves, and a large deck running the length of the home. The .35 acre level lot has 183’ of sandy shore front, a crib dock, and sunny, southwesterly views. This property was first listed in 2010 for $850,000 and then again in 2011 for $735,000. This year it was brought back on at $675,000, reduced to $649,000, and then sold for $610,000. The total time on market was 666 days (is that a sign?) The property is assessed for $684,4000 so I suspect the buyer feels he got a great deal!

The home that sold at the median price point of $1.4 million was in Wolfeboro at 4 Delings Cove Road. This 3,034 square foot contemporary has six bedrooms including a first floor master suite, hardwood floors with radiant heat, living room with wood fireplace, lower level family room, and an eat in kitchen with new appliances. Outside the level 1.17 acre lot has 100' of frontage, a sandy beach, covered boat dock, a cabana, a water side patio area, and awesome views. Not much to dislike here! This home was first listed in May of 2009 at $1.699 million and then re-listed in March of 2011 at the same price. It was reduced to $1.499 million and then sold for $1.4 million after a total of 1,186 days on the market. The price differential between the first listing price and the actual sales price represents a $252.00 per day cost to the seller. What do you suppose the seller could have made on the $1.4 million (if it was all free and clear) if he had invested that about 1,186 days ago? The current assessed value on this property is $1.304 million.

The highest sale on the lake in September was at 22 Cattle Landing Road in Meredith. The sale of this property was another long ordeal as it was listed prior to construction back in June of 2006 at $2.995 million with construction to be completed in 2007. The price escalated to $4.25 million in June of 2008, then was reduced to $3.2, to $2.895 in 2010, and finally down to $2.695 million this year. Anyway, this exquisite 6,000 square foot Adirondack has all the features one would expect in a Winnipesaukee waterfront estate home including Brazilian Cherry hardwood floors, a great room with cathedral ceilings and floor to ceiling fireplace, lots of glass, six bedrooms including a sumptuous master suite with its own private deck, the requisite gourmet kitchen with all the goodies, a home theater, and an attached, three car, heated garage for the toys. The home sits on a .72 acre peninsula lot with 328' of frontage, amazing landscaping, beautiful patios and walkways, a perched beach, and, of course, a dock. The home also has 50% interest in another 8.5 acre lot to provide additional privacy. So, this home was marketed for 1,450 days with the sale coming in at $2.2 million. The assessed value by the Town of Meredith is at $2.577 million.

There were two sales on little sister Winnisquam in September. One was located at 9 Island Drive in Belmont. This 1940’s “vintage,” seasonal cottage has a knotty pine interior, two bedrooms, two baths, a cute living room with a fireplace, a nice screened porch, and a walk out basement. It sits on a .3 acre lot with 80' of sandy frontage and a dock. This property was priced at $349,000 and found a buyer at $311,000 after only 57 days on the market. The current assessment is $393,700. The other sale was at 11 Bear Point in Meredith. This is a 2,424 square foot, beautifully maintained contemporary built in 1989. It has four bedrooms, three and a half baths, a living room with a cathedral ceiling and fireplace, large deck, and a finished lower level walkout. The home sits on a .4 acre level lot with a sandy beach and dock. It was offered at $635,000 and sold for $623,000 after 39 days on the market. This puts the total number of sales on Winnisquam for the first three quarters of 2012 at 12 compared to 17 for the same period last year. Unfortunately, once again there were no sales on Squam Lake…

Data was compiled as of 10/10/12 using the Northern New England Real Estate MLS System.

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