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2010 Year End Lakes Region Residential Sales Report

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Posted 01-21-2011 at 04:24 PM by Roy Sanborn

There were 59 homes sold at an average price of $369,112 during the month of December in the communities in this Lakes Region report. That’s down some from the 68 sold in December 2009, but the average price is up considerably from $290,008. As usual, more than 50% of the sales were below the $200,000 mark with five waterfront sales over the $1 million mark helping to lift up the average sale price.

The highest sale for the month of December was at 49 McLeod Road in Alton at $3.5 million. This property is a spectacular 23 acre family compound comprised of three lots of record, a circa 1914 year round main home, and four charming vintage cottages. The property has a private, tranquil setting with its own pond, 650 feet of shoreline, a sandy beach, covered boat dock, and long range views with beautiful sunsets. One of the best buys for the month was at 33 Windjammer Ridge in Laconia in the gated community of Meredith Bay. This gorgeous, 4,141 square foot, contemporary cape was built in 1996 and has four bedrooms, three baths, a first floor master suite, gourmet kitchen, huge deck, screened porch, two car garage, and beautiful views. This was a bank owned property that was assessed at $824,600 and was purchased for 69% of that at $566,000! A fantastic home at a fantastic price!

Sales were up nicely for the year in the Lakes Region with a total of 773 transactions at an average price of $320,898. This represents an 8% increase in the total number of sales and a 10% increase in the averages sales price compared to 2009! This is really great news for our area as the overall statewide sales were down 3%. The median sales price for 2010 came in at $192,000 compared to $185,000 in 2009 indicating that there were more expensive homes sold this year compared to last. Strong retirement and second home sales were, and will continue to be, largely responsible for increases in our sales numbers.

Of the 773 properties that changed hands this year there were 407 sales under $200,000 (compared to 400 in 2009) and 232 sales between $200-400K (compared to 210 last year). There was a big increase in sales over the $400k mark with 134 in 2010 compared to 109 last year. The homes that sold over the $400k price point in 2010 totaled $130.5 million in sales compared to just $97.47 million last year. There were 36 homes that sold over $1 million this year compared to just 18 last year. That 100% increase in sales in this category had a huge impact by adding an additional $38 million to the total sales volume for the year bringing it to $248.05 million for the year. When you stop and think about it, that is a lot of real estate sold for these twelve towns in little old Central New Hampshire.

The largest sale of the year award goes to (Taa-daa!) the property at 59 Little Road in Meredith. This extraordinary home has a whopping 12,933 square feet of living space, so there is nothing “little” about it! This stunner has 20 rooms, five bedrooms (including a first floor master suite), seven total baths, and a five car garage! This home obviously has all the high end features imaginable including beautiful wood and stone work, massive fireplaces, a gourmet kitchen, soaring great room, an in-law apartment, wine cellar, exercise room, an outdoor kitchen, and multiple decks and patios. This home sits on a 4.31 acre lot that provides total privacy and 830 feet of frontage with great views. The property was originally listed at $8.9 million, was reduced to $6.999 million and sold for $6.839 million after 419 days on the market.

So 2010 is in the history books and we optimistically look forward to the current trends continuing in 2011 ensuring another positive year for housing sales in the Lake Region. After all, who’d want to live anywhere else? Well…maybe Maui!

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