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Good Deals = Quick Sales

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Posted 09-22-2011 at 09:13 AM by Roy Sanborn



Residential homes sales in the Lakes Region communities covered by this market report jumped a healthy 23% in August compared to the same month last year. There were 83 sales last month at an average of $330,718 compared to 67 last August at an average of $411,780. A 23% increase in sales is welcome news but one month doesn’t make a trend. On a rolling twelve month basis we are still off last year’s pace…just a bit. For the twelve month period ending 8/31/10 there were 772 sales at an average of $312,389. For the twelve month period ending 8/31/11 there have been 758 sales at an average of $331,556. Hopefully, a strong fall sales season will bring us up over last year’s total numbers.

As usual, about 50% (49.4% to be exact) of the sales were under $200,000. The sale to asking price percentage averaged 93%. One statistic that perhaps tells a little more of a story is the sale to the original asking price percentage. Last month the sales price was 88% of the original asking price which means that there was a 5% reduction on average in the original asking price before the homes went under contract. Sale prices averaged 95% of the home's assessed value (for the homes reporting the assessed value in the MLS system).



There were a number of quick sales last month and it is always interesting to see what sold and why.The quickest sale, at least according to the MLS system, was a home that sold the same day it was put on the market only it was never on the market. Huh? It was actually a For Sale By Owner, that a quick thinking agent named Jason had in the back of his mind and showed to his client that had exhausted the other possibilities. It turns out that the buyer had always wanted this property and didn’t know it was for sale. This turn of the century Winnisquam waterfront property at 20 Winnicoash Street in Laconia has 1,624 square feet of living space, three bedrooms, 1 ½ baths, a one car garage, and sits on a .31 acre lot with 94’ of water frontage. The asking price was $480,000 and it sold for $457,674 which was well under the assessed value of $523,200.



Another extremely quick sale was at 44 Driftwood Drive in Moultonborough. This Winnipesaukee waterfront home was built in 2000 and has 2,924 square feet of living area, a master bedroom suite, three guest rooms , three full baths, cathedral ceilings, gas fireplace, and a two car garage on a .63 acre lot with 100 feet of frontage with southern exposure. This property was listed for $859,000 and sold for $825,000 after just two days on the market. The town’s current tax assessment is $943,000. Good deal, quick sale, happy seller, and happy buyer!

Over at 26 Hunter Court in Belmont an older 70’s vintage two bedroom, two bath, 1416 square foot ranch with a two car garage on a 1.11 acre lot also found a quick buyer. This property was listed at $134,900 and got a full price offer after only five days on the market. This great entry level home is currently assessed for $193,600.



Another ranch at 104 Waukewan Road in Center Harbor also sold for well under assessed value. This home was built in 1979 and has 1,536 square feet of living area with three bedrooms, two full baths, hardwood floors throughout, and a two car garage. It sits on a sunny 1.15 acre lot near the Waukewan Golf Course so I hope the new owners like to chase those little white balls around. This home was listed at $199,900 and sold for $187,500 after only 8 days on the market. The assessed value is $287,900. Are you beginning to see the trend?



A great little cottage with access to Hills Pond at 197 Alton Shores Road in Alton also sold in just 9 days. This four room, two bedroom, 680 square foot get-a-way is cute as a button and sits on .56 acres with two lots of record. The property is seasonal, but at only $93,500 it makes a great little summer vacation property. Perhaps you can go there to hide from the Mrs. or vice versa. The town’s current tax assessment is $117,1000.

So there you have it. Five quick sales; two waterfronts, two small ranches, one water access, and more accurately, five good deals.





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