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2011 Year End Lakes Region Waterfront Sales Report

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Posted 01-13-2012 at 07:22 PM by Roy Sanborn

It was a great end to the year with fifteen waterfront sales on Winnipesaukee in December at an average of $675,300. That compares to nine sales last December but at a much higher average price of $1,306,044. Only three of the fifteen sales last month were over the million dollar mark resulting in the low average sale price.

The least expensive sale in December was at 65 Cow Island in Tuftonboro. This classic Lake Winnipesaukee summer camp has the desired knotty pine interior, wood floors, a first floor bedroom, two large bunk rooms upstairs, a wood stove, and the requisite screened porch where you can sit and tell lies all night. The camp sits on a .79 acre level lot with 150’ of shallow sand bottom frontage and crystal clear water. This property was offered at $324,500 and sold for $282,000 after 190 days on the market. This property is currently assessed for $352,900 so I’d say you have a pretty happy camper there.

Out at 62 Varney Point Left Gilford there’s a new owner that will be tearing down the existing structure to make way for her dream home. The existing home, which was built in 1930 and remodeled in 1988, was not quite to her tastes. But the fantastic westerly views and 115’ of shore front which features a 24’ x 32’ boathouse, attached dock, and breakwater was. The property was offered at $1.195 million and sold for $925,000 after 121 days on the market. That’s just over the new assessed value of $896,540. It will be intersting to see what she builds there...

The largest sale of the month was at 97 Pleasant Street in Meredith. This 1960’s vintage, three bed, four bath, 4,000 square foot home has been nicely updated throughout. It features a first floor master, eat in kitchen, double sided fireplace, recreation room, screened porch, and a three car garage. It sits on a .48 acre lot with 136’ of frontage, dock, and has great views down Meredith Bay. This home was first listed in 2006 at $1.75 million, re-listed in February 2011 for $1.3 million, and sold for $1.1 million which is just under the $1.19 million assessment.

So how did we do for the year on the Big Lake? Pretty darn good, I’d say! The total number of sales were up from 96 in 2010 to 107 in 2011 for an 11.5% increase. However, the average sale price was down below the $1 million mark for the first time since 2003 when it came in at $994,688. The average price is down partially due to some weakening in waterfront prices but also because more lower and fewer higher priced homes sold compared to the prior year. There were 69 properties sold below $1 million last year compared to 52 in 2010. On the high end there were just four sales over $3 million while there were nine in 2010. The total sales volume for waterfronts sold was $106.4 million in 2011 compared to $120.7 million in 2010. The largest sale on the lake for the year was at 31 Wallace Point in Moultonborough at $4.325 million.

There were four sales on Winnisquam last month at an average sale price of $370,250 compared to just one last December. The largest sale for the month was at 264-3 Black Brook Road Road in Sanbornton. This property consists of a three bed, three bath main house, a 1 bedroom guest house, and a three car detached garage on a .65 acre lot with 125’ of frontage. This house was first listed in June of 2009 at $725,000, listed in 2010 for $659,900, and in 2011 for $649,900. After another $20,000 price reduction it sold for $575,000 which is just over the current assessment of $556,000. This brings the total on Winnisquam to 23 sales in 2011 at an average price of $480,536. That’s a 44% increase in total sales from the 16 sales posted in 2010. Just as on Winnipesaukee, the average sale price was down for the year when compared to the prior year’s average of $560,000.

Over on Squam there was just one sale in December and that was the property at 50 Route 113 in Holderness. This is a 1926 vintage, four bed, two bath, 1,600 square foot New Englander on a 1.71 acre lot with 114' of shore front, sandy beach, and a dock. It was first listed in 2009 for $729,000 and then re-listed this year at $699,000. It was reduced to $499,000 and sold for $450,000. The property is currently assessed at $624,710. Do you see a pattern? There were just seven sales on Golden Pond in 2011 at an average $1.036 million. But that is somewhat better than the five transactions in 2010 although the average sales price was about one half of the $2 million average posted .
We’re hoping that 2012 will be a great year for sales on all the lakes in the area. After all, there’s no place more beautiful and better to live or vacation in than the Lakes Region and right now many people believe there is no place to invest than in lakefront property. If you are considering a waterfront property this may just be one of the best times ever to buy. So contact your REALTOR® and go take a look. You may just find the home you’ve always dreamed of…

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