As the Real Estate Season Turns

As the Real Estate Season Turns

“There’s hope for buyers on the horizon, with more real estate opportunity to come.”

This past spring and summer flew by, and fall’s radiant colors will bring another large group of fall foliage enthusiasts to enjoy the splendor of our colorful season.

We saw a frenzied surge of real estate activity here in the Lakes region during 2021. This resulted in record price increases and brought the stock of available homes in the Lakes Region to record lows. All the Realtors® in the region experienced well-heeled purchasers crowding out competitors through cash purchases, sometimes buying a house sight unseen and without inspections.

It was a year that none of us will forget. I do feel that the surge and mania is slowing down somewhat, and that’s a good sign. We need our Granite State natives to have an opportunity to purchase a home in the Lakes Region… it’s been so difficult for them this past year, especially for first-time homebuyers and middle-income residents. We are seeing price reductions in MLS more frequently for primary homes. I strongly feel that as winter approaches the market should loosen up a bit as more product gets added. Here’s how we look today:

  • New Hampshire has 1,850 active single-family homes for sale with a median listing price of $449,900
  • Gilford has 22 single-family homes for sale with a median listing price of $574,000, a low of $84,900, and a high of $10,000,000. 101 single-family homes have closed between 1/1/21-9/16/21 with the median sales price at $489,000, a low of $200,000, and a high of $5,280,000.
  • Laconia has 31 single-family homes for sale with a median list price of $399,000, a low of $177,000, and a high of $1,425,000. 151 single-family homes have closed between 1/1/21-9/16/21 with the median sales price at $310,000, a low of $51,724, and a high of $4,900,000.
  • Meredith has 23 single-family homes for sale with a median list price of $760,000, a low of $375,000, and a high of $1,995,000. 71 single-family homes have closed between 1/1/21-9/16/21 with the median sales price at $550,000, a low of $89,000, and a high of $3,300,000.
  • Moultonborough has 22 single-family homes for sale with a median list price of $674,450, a low of $239,900, and a high of $3,200,000. 107 single-family homes have closed between 1/1/21-9/16/21 with the median sales price at $625,000, a low of $130,000, and a high of $5,400,000.
  • Lake Winnipesaukee currently has 14 single-family homes for sale on the mainland with a median price of $2,547,500, a low of $920,000, and a high of $19,500,000
  • There are 5 Lake Winnipesaukee island properties for sale with a median list price of $760,000, a low of $725,000, and a high of $1,290,000.
  • The highest sales on Lake Winnipesaukee from 1/1/21-9/16/21 were impressive:
    1. $6,400,000 270 Governor Wentworth Highway, 305 Feet of shorefront on 11.6 acres with 8,660 sf of living space.
    2. $5,400,000 75 Norway Point, Moultonborough. 2,089 ft of shorefront on a point on 1.34 acres with 4,529 sf of living space.
    3. $5,280,000 432 Edgewater Drive, Gilford. 185 ft of shorefront on 1+ acres with 8,268 sf of living space.
    4. $4,900,000 548 Endicott Street E., Laconia. 356 ft of shorefront on 1.33 acres with 10,718 sf of living space.
  • Lake Winnipesaukee was ranked as the 8th best lake in the USA for 2021 by Planetware.com. From the cleanest to the prettiest, the natural to the manmade, here’s their list of the top 14 lakes in the USA:
    1. Lake Tahoe, California
    2. Crater Lake, Oregon
    3. Lake Powell, Arizona & Utah.
    4. Lake Michigan, Michigan, Wisconsin, Illinois, Indiana.
    5. Lake of the Ozarks, Missouri.
    6. Lake Superior, Michigan, Wisconsin & Minnesota
    7. Lake Havasu, Arizona.
    8. Lake Winnipesaukee, New Hampshire.
    9. Hanging Lake, Colorado.
    10. Flathead Lake, Montana.
    11. Lake Chaplain, New York & Vermont.
    12. Lake Kabetogama, Minnesota.
    13. Yellowstone Lake, Wyoming.
    14. Echo Lake, New Hampshire.

Yes, there’s currently a low supply with strong demand, but just as the seasons change with bright illuminated colors to the chills of winter… “There’s hope on the horizon.” The future months will bring more real estate opportunities.

Frank Roche, President of Roche Realty Group, Inc. with offices in Meredith and Laconia, NH

This article was written by Frank Roche. Frank is president of Roche Realty Group with offices in Meredith and Laconia, NH, and can be reached at (603) 279-7046. Sales data was compiled by a NEREN map search on 09/16/2021 at 10:00 am EST and is subject to change. Please feel free to visit www.rocherealty.com to learn more about the Lakes Region and its real estate market.

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