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Lake Winnipesaukee and Winnisquam Waterfront Sales Report - 3rd Quarter

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Posted 10-14-2010 at 03:06 PM by Roy Sanborn

We are three quarters of the way through 2010 already. Where did the summer go? There were eight waterfront sales (including island property) on Winnipesaukee in September 2010 at an average price of $941,938. That compares to ten sales last September with an average of just $735,390. For the first nine months of 2010 there were 67 sales at an average price of $1.155 million and an average time on market of 252 days. That is up from a total of 57 sales for the same period last year at an average of $935,612 and 169 days on the market. The total sales volume is up 25% from $53.3 million in 2009 to $77.4 million so far in 2010. Last year there were 78 sales on Winnipesaukee for the entire year with 21 sales coming in the last three months. Hopefully, we’ll see the same results this fall.

The least expensive property sold on Winnipesaukee in September was at920 Rattlesnake Island in Alton. This two room, one bedroom camp built in 1985 has an expansive 512 square feet of living space so you are not likely to get lost inside. Since the privy is outside, however, I hope the new owner has plenty of flashlights and batteries for the night time treks to the john. The cottage sits on a .81 acre lot with spectacular views of the Ossipees and has 100 feet of frontage with a perched beach, breakwater, and dock. This property was originally offered at $279,000, was reduced to $199,000 and sold for $175,000 which is 70% of the current tax assessment. This was a really inexpensive way to get on the big lake and a good deal for the new owner.

An extremely nice and rather unique property sold at 202 Lees Mill Road in Moultonborough. It is unique because this 2.76 acre lot has frontage and docks on both Lee’s Pond and on Lake Winnipesaukee. This Adirondack style home was built in 2005 and has a total of 5,878 square feet of living space, four bedrooms, five baths, a gourmet kitchen with granite countertops and cherry cabinetry, a great room and family room each with stone fireplaces, a first floor office with built ins, the requisite master suite, a screened porch, a game room over the attached two car garage, plus a 30’ x 40’ heated post and beam barn. This property was listed at $1.65 million and sold for $1.5 million which was just under the listed tax assessment of $1.58 million (the Town of Moultonborough recently adjusted the assessment down to $1.43 million). It may be just my taste, but personally, I think this was a great deal on a wonderful property.

The largest sale for the month was another island property at 8 Big Beaver Island in Meredith. This period island estate is comprised of a five bedroom, 4,800 square foot main lodge and three cottages on 5.3 acres of land with 1,200 feet of frontage. The property also had two boathouses with three bays, 2 mainland boat slips, and four mainland parking spaces. This property was listed at $2.5 million and sold for $1.5 which was above the current tax assessment of $1.146 million.

Over on Lake Winnisquam there were just two sales last month compared to four last September. That puts the tally at twelve sales year to date compared to eleven for the same period last year. A classic waterfront camp (sometimes that means that the place needs work—and yes, this one does) at 62 Hill Road in Tilton on a ¾ acre peninsula lot was originally listed for $359,000 sold for $320,000. This lot had public sewer and 490 feet of frontage. I would expect to see a new home there in the future. The other sale was a ten room, five bedroom, 3 bath, 3,564 square foot contemporary home at 454 Shore Drive in Laconia. This home was built in 2000 and has a nice open concept living area, custom kitchen with granite countertops, first floor master suite, and a large family room in the basement. The home sits on a one acre lot with beautiful lawns leading gradually down to 214’ of sandy frontage and two docks. This home was listed for $875,000 with a tax assessment listed at $976,200, and sold for full price going under agreement after only eleven days on the market. The property now has a current assessment of $801,800 due to the recent property revaluation in Laconia. But you know what? This was a great house, in a great neighborhood, so it was still a great deal…

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