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Winnipesaukee and Winnisquam Waterfront Sales Report - July 2012

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Posted 08-21-2012 at 02:24 PM by Roy Sanborn

Winnipesaukee waterfront sales took a little dive to cool off in July with only four transactions at an average price of $1.153 million. That’s down from the ten sales last July at an average price of $1.223 million. For the year thus far, there have been 66 sales on Winnipesaukee at an average price of $936,634 compared to 51 sales for the first seven months of 2011 at an average of $1.162 million and 45 at an average of $1.211 million in 2010.

As of 8/15/12, there were 389 properties available on the big lake including island properties. With a total of 119 waterfront sales over the previous 12 months the current inventory level represents a 39 month supply of homes. Breaking it down a little further, the absorption rate for homes under a million is 29.5 months and a staggering 65.5 months if you are lucky (?) enough to have a home listed over the $1 million mark. Waterfront sellers should really look at these numbers as a real incentive to try and be the best value on the lake in order to attract a buyer sooner than much, much later.

The least expensive sale on Winnipesaukee was at 16 Rodgers Road in Alton. This property consists of a sixties vintage, 2,324 square foot, 3 bedroom main home, and a guest cottage on a level .6 acre lot. It has120 feet of shoreline located in a quiet cove with great views, sandy beach, a covered “U” shaped dock plus an additional dock for company.This home was first listed back in May of 2009 at $795,000 and was on the market for a total of 844 days before finding a buyer at $672,000. The property is currently assessed for $688,300 by the town of Alton.

Over in Meredith at 26 Oak Island Road a very charming home with that much sought after lake feel also found a buyer. This high quality home was built in 2000 and offers 2,481 square feet of living space, three bedrooms, four baths, an open concept kitchen with custom cabinetry, hardwood and Berber flooring, lots of windows, a lower level walk out family room, gas fireplace, screened porch, and deck. Just really nicely done! The home sits on a .47 acre well landscaped lot with 147 feet of frontage, dock, and great lake views. This property was originally listed at $949,000, reduced to $899,000, and sold for $840,000 after 380 days on the market. The home is currently assessed at $863,700. I am sure the new owner is ecstatic…

The largest sale of the month was a new home under construction at 66 Pipers Point in Alton. This home has 3,186 square feet of living space, four bedrooms, four baths, and all the high end features one would expect in a new home on the lake. Unfortunately, there were no internal pictures of this fine home to get the feel of the place, but it is described as having a first floor master, two guest bedroom suites, a custom kitchen (of course), an open concept floor plan, a stone fireplace, a large screened porch, and waterside deck. The home sits on a .83 acre lot with 138 feet of shore front. This property was listed at $2.195 million and sold for $1.95 million after 77 days on the market. The tax assessment of $485,200 represents the cottage that was torn down to make way for this beautiful home.

The only sale on Winnisquam in July was at 438 Shore Drive in Laconia. This custom built, 3,700 square foot, contemporary style home was built in 2000 and has four bedrooms, three baths, custom kitchen, a formal dining room, family room, gas fireplace, cathedral ceilings, hardwood and tile floors, and great westerly sunset views. The home sits on a .66 acre lot with perennial gardens, 150 feet of frontage, and a 40 foot dock. This property was listed at $989,000, reduced to $795,000, and sold for $765,000 after 618 days on the market. The current tax assessment for the property is $810,200.

Once again, there were no sales on Squam Lake. Sad but true. It is also sad that many of the younger generation in the Lakes Region have never seen the classic movie "On Golden Pond" with Henry Fonda and Katherine Hepburn. It would seem that watching this movie should be required by all schools in the area and by any flatlanders moving to the Lakes Region. There’s a lot more that can be learned in that movie than just finding out who Walter is…

Data was compiled as of 8/15/12 using the Northern New England Real Estate MLS System.

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