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The Lakes Region Real Estate Market Report - August2016 Sales

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Posted 09-22-2016 at 11:28 AM by Roy Sanborn

Lakes Region of NH Residential Sales Report - August 2016

There were 140 single family residential home sales in August in the twelve Lakes Region communities covered by this report. The average sales price came in at $305,575 and the median price point was $228,500. Last August there 130 transactions at an average price of $364,503 and a median sale price point of $226,050. The median price point is the midway point of all the houses sold during the month meaning half of the houses sold last month were above $228,500 and half sold below that price.

So what could you get for $228,500? Actually, quite a lot it seems. Take, for example, the property at 588 New Hampton Road in Sanbornton which sold for $228,000.
This 1800 vintage, 3,100 square foot, four bedroom, two bath colonial looks pretty nice. It has large rooms with vintage charm, a bright country kitchen with a center island and cook top, a living room with some nice built-in bookcases and wide pine floors, a dining room with the same flooring and a brick fireplace, newer roof, and newer furnace. The house sits on a large landscaped 3-acre lot with fenced yard. It was originally listed at $249,900, was reduced to $239,900 and sold for $228,000. It is assessed at $259,782. Looks like a lot of house for a reasonable price!

On the entry level end, I couldn’t help but notice a three bedroom, two bath, 1920’s vintage bungalow at 243 Elm Street in Laconia.
This classic home was built when things were built solid! It has lots of character with natural wood work, wainscoting, and hardwood floors. I remembered it because I sold it back in 2001 for $96,000. It was resold in 2004 for $157,000 and in 2005 for $179,533 before going to foreclosure in 2015. It just sold for $99,000 as a bank owned property which I think was a pretty good deal for someone. Seems like it came full circle.

The highest non-waterfront sale of the month that was at 88 Terrace Hill Road in Gilford. This 5,000 plus square foot, four bedroom, three and a half bath contemporary ranch wasn’t on the water but it has that secluded resort feel tucked away in a natural surrounding with perennial gardens, large in-ground pool, extensive decking with a hot tub and fire-pit. It’s the kind of place you can relax and chill out. This home has an open floor flan with a bright stylish kitchen with high end appliances and an adjacent breakfast nook, a formal dining room, a living room with cathedral ceilings and fireplace, a family room, first floor master suite, and lower level game room with wet bar and fireplace. Yup, just like Club Med! This home was listed at $749,000 and someone decided to go on vacation there in just 8 days for $710,000. Wonder if they need someone to clean the pool?

So far this year there have been 818 single family residential sales in the towns covered by this report. The average sales price thus far this year is $319,082. We are up 17% in the total number sales over the 697 posted last year for same period. That’s pretty darn good I’d say! If you are looking to sell your home this is a great time to put it on the market headed into the fall season. While things do tend to slow down over the holidays buyers are still out there looking for that right property. And, you might just have what they are looking for!

Dated compiled using the NEREN MLS system.
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