Hitting Lakes Region Real Estate Trends Right in the Numbers

Fall Season Foliage in NH

It is the season of statistics. Each Fall, inspired by the start of a new football season, many of us transform into engaged analysts and prognosticators. Even those of us who steer clear of dry facts and figures the rest of the year can find ourselves poring over the stats and asking questions like: Who’s leading in offensive yards? How do these numbers match up to last year? How do they compare to our last championship season, and what inferences can we make about performance going forward?

In the spirit of seasonal mathematical motivation, let’s look at what the real estate stats suggest about past, present and future home sales performance here in New Hampshire.

State Level Trends

  • New Hampshire’s median home prices peaked in 2005 at $270,000
  • In 2016 New Hampshire’s median home prices were 92 percent of the peak in 2005 ($249,500).
  • 17,567 homes were sold in New Hampshire in 2016, compared to 16,264 in 2005, an increase of 1,303 units and eight percent (and a 9 percent increase over 2015). That suggests an increase in real estate market strength, like a lineman improving from 27 to 29 bench press reps with 225 pounds.
  • The median number of days on market was the same in 2016 as the peak in 2005, at 83 days.

Belknap County Trends

  • At the county level, median home prices peaked in 2007 at $239,000
  • In 2016 Belknap County median home prices were 92 percent of the peak in 2007 ($219,950).
  • 1,140 Belknap County homes sold in 2016, compared to 725 in 2007, an increase of 57 percent and 415 units (and a 19 percent increase over 2015 sales).
  • In 2016 Belknap County averaged 103 days on market, compared to 140 in 2007, a decrease of 26 percent. This means homes are moving faster. For context, this would be like a wide receiver improving his 40 yard dash speed from 4.49 to 3.41 seconds.

Meredith Trends

  • At the town (Meredith) level, median home prices peaked in 2007 at $375,000
  • Median Meredith single family home prices in 2016 were 85 percent of the peak in 2007 ($320,000).
  • Meredith sold 97 homes in 2016, compared to 85 units sold in 2007, an increase of 14 percent. This was, however, a decrease of 12 percent from the 110 units sold in 2015.
  • In Meredith, days on market decreased from 138 in 2007 to 64 in 2016. That’s a decrease of 46 percent, a significant acceleration of sales speed. This is roughly equivalent to a quarterback completing 4,806 passing yards in nine games instead of 16.

So what do these stats suggest? According to Frank Roche, who has 40 years of Lakes Region real estate experience, “These stats show that the market in the Lakes Region still has a ways to go to catch up with peak selling prices. We’re still 15 percent below peak in Meredith, and based on the acceleration we’ve seen in 2017 year to date, we’re well on our way to reaching a new peak period.

“We still have a ways to catch up with Massachusetts, Connecticut, New York and New Jersey, however, in my past 40 years of experience, I’ve always felt that the Lakes Region follows Massachusetts by about two years, in terms of seeing real estate trends materialize. If you look at the Boston real estate market, which is presently on fire, there are new skyscrapers, apartments, condominiums and commercial developments going up everywhere. Thousands of units are selling at record high prices. They’ve got a new gambling casino underway with adjacent hotels under construction. GE [General Electric Co.] relocated there. There’s talk about Amazon’s second regional center being developed at Suffolk Downs, with a projection of 50,000 jobs if that occurs.

“So there are tremendous bright spots for growth south of us, which translates to eventual expansion into New Hampshire and ultimately the Lakes Region.”

Naturally, like any good coach, Roche went on to provide even more stats.

“Add to this a new report that just came out from 24/7 Wall St.,” he said, “which ranked New Hampshire as the seventh richest state in the country. It was reported that the median household income in the Granite State is now at $70,936, considerably higher than the national median income of $57,617. The report also indicated that relatively few residents in New Hampshire experience extreme financial hardship. Only 7.3 percent of NH residents live in poverty, the lowest in the country. The report also mentioned that the high incomes could be a result of the state’s education levels, which are ranked very high nationally.”

He added, “I also want to point out that the unemployment rate in New Hampshire, at just 2.8 percent, is the second lowest in the country, which is an obvious catalyst for real estate sales and activity.

“It’s pretty amazing that we’re doing so well here in the Granite State considering we have the tenth lowest population in the United States, with only one million three hundred thousand plus residents. We are in a good place right now!”


Brent Metzger is a saleBrent Metzger, Realtor at Roche Realty Group in Meredith NHs associate at Roche Realty Group in Meredith, NH.  He can be reached on his cell phone at (603) 229-8322, at the office at (603) 279-7046, or by e-mail: brent@rocherealty.com

Please feel free to visit www.rocherealty.com to learn more about the Lakes Region and its real estate market.

NH Lake Sales Activity - picture of lake with mountains and homes

Lakes Region Waterfront Sales 2022 vs. 2023

We’re getting near the end of the year, and I thought I would pull up ...
Read More →
Winter Snowmobile

Real Estate in a Winter Wonderland

As I drove around the other day with my kids, I was looking at some ...
Read More →
Toys for Tots Drive

Roche Realty Host Annual Toys for Tots Drive

As the holiday season approaches, Roche Realty Group is excited to announce the kickoff of ...
Read More →
Small Business Saturday New Hampshire

Small Business Saturday Living Gratefully in New Hampshire

We have so many things to be thankful for here in New Hampshire: plenty of ...
Read More →
Annie Brown Joins Roche Realty Group

Annie Brown Joins Roche Realty Group

Meredith — Frank Roche, President of Roche Realty Group, Inc., with offices in Meredith and ...
Read More →
Gunstock Mountain in Gilford, NH

Gunstock Upgrades for Winter as Real Estate Shows Resilient Growth

As the leaves of New Hampshire’s forests transition from the vibrant hues of fall to ...
Read More →
Preserving New Hampshire's Lakes

Preserving New Hampshire’s Lakes: A Community Effort

With over 250 lakes and ponds throughout New Hampshire’s Lakes Region, there are unlimited outdoor ...
Read More →
Home Inspections — The Uninspected Abode: A Spine-chilling Tale of Regret and Terror!

The Uninspected Home: A Spine-chilling Tale of Regret and Terror!

One night, not many years ago, in a quaint, somber town nestled amidst the haunting ...
Read More →
Interest Rates

Interest Rates Impacted by Treasury Yields

It looks like the national picture for housing stats has not improved in recent months; ...
Read More →
Local Housing Crisis: Challenges and Solutions

Local Housing Crisis: Challenges and Solutions

Our communities are facing a shortage of both residential and commercial properties, a scenario that’s ...
Read More →
Fall Splendor In New Hampshire

Fall Splendor in New Hampshire

New Hampshire in the fall is akin to stepping into a live canvas painting — ...
Read More →
Samoset Condominiums on Lake Winnipesaukee

Condominium Sales Surge in New Hampshire’s Lakes Region!

As we start entering October’s bright fall colors, I thought I’d take a look at ...
Read More →
Empowering your offer

Empower Your Offer in a Sizzling Real Estate Market!

As a seasoned real estate professional, I often consider the market conditions to keep myself, ...
Read More →
Reviews of New Hampshire's Lakes Region

Reviews of New Hampshire’s Lakes Region

We’ve had a great summer in New Hampshire’s Lakes Region, and we’re approaching the brilliant ...
Read More →
Waterfont Sales Activity Wolfeboro, New Hampshire

Waterfront Sales Activity in the Lakes Region

As we head into September, I have compiled data and insight into what is happening ...
Read More →
Labor Day Weekend

Labor Day Weekend in The Lakes Region

Labor Day Weekend has arrived, and the weather forecast for the Lakes Region looks fantastic, ...
Read More →
Interest Rates

The Mortgage Interest Rate Dilemma

This past week, we saw an increase in mortgage rates following a rise in bond ...
Read More →
Best State To Live In — New Hampshire at #3

New Hampshire 3rd Best State To Live In!

WalletHub just released its rankings of the best state to live in for 2023. It’s ...
Read More →
City/Town Comparison can make the research process easier

City/Town Comparison For Your Move

Some studies place moving to a new location as one of the top ten most ...
Read More →
New Hampshire Real Estate Lacks Inventory

New Hampshire Real Estate Inventory Crisis

A Multifaceted Analysis of Rising Interest Rates and Beyond New Hampshire is currently facing a ...
Read More →
Peaks of New England

Exploring the Peaks of New England

In my younger years in school, I always loved geography. Living in New Hampshire, there ...
Read More →
Climate Exodus: Insurance Companies Seeking Refuge from High-Risk Sates

Climate Exodus: Insurers’ Fleeing High-Risk States

Flooding, Forest Fires, Heat Waves, Tornados, oh my! The recent stretch of weather has certainly ...
Read More →
Real Estate News Headlines - Lakes Region NH

Real Estate Tidbits to Consider

Here are a few real estate tidbits I’ve pulled to keep you up to speed ...
Read More →
Roche Realty Group Sells out Lakeside at Paugus Bay

Roche Realty Group — 6 Months in Review

Closed sales for the first 6 months of 2023 have been impressive at Roche Realty ...
Read More →
Newfound Lake

Lakes Region Waterfront Sales Activity 6 Month Comparison

Below you will find data and insight into what is happening in sales activity on ...
Read More →
Buying Land

Buying Land in New Hampshire — Comprehensive Guide

New Hampshire, also known as the Granite State, offers a diverse landscape that includes picturesque ...
Read More →
Weirs Beach: A Tale of History, Community, and Natural Beauty

Weirs Beach: A Tale of History, Community, and Natural Beauty

As we celebrate the 100th anniversary of the oldest bike week in the country, let’s ...
Read More →
First Five Months of Lakes Region Real Estate

Five Months of Lakes Region Real Estate Activity

The month of May’s real estate statistics just came out for New Hampshire, and it ...
Read More →
A bird's eye view of Long Bay on Lake Winnipesaukee

South Down Shores and Long Bay on Lake Winnipesaukee — Its History

When construction started in 1981, Laconia’s South Down Farm offered a picturesque setting for condominium ...
Read More →
Memorial Day — rows of gravestones with flags in military cemetery

Memorial Day Weekend Arrives in the Lakes Region!

The long-anticipated Memorial Day weekend has arrived after a long winter, and the Lakes Region ...
Read More →
Unlike the dandelions new listings aren't popping up in the Lakes Region

Will Listings Start Bloom Like Dandelions?

Will Real Estate Listings Bloom Like Dandelions? During my rides around the Lakes Region, I’ve ...
Read More →
boat launch

Public Boat Launches in the Lakes Region

New Hampshire’s Lakes Region is a paradise for boating enthusiasts and we are now entering ...
Read More →
Real Estate Scams

Real Estate Scams to Be Aware of

One of my Realtors® received a call today from a gentleman purporting to be the ...
Read More →
Brant Point Lighthouse, Nantucket overlooking the ocean

From the Lakes Region to Nantucket

I spent a few days on Nantucket Island this past week for a quick getaway. ...
Read More →
Lakes Region Real Estate Is Still Hot

Lakes Region Real Estate Market is Sizzling

The real estate market in the Lakes Region and the state of New Hampshire is ...
Read More →
Lake Winnipesaukee Kayak

Buying a Lake House — Where to Start?

Owning a waterfront home in New Hampshire’s Lakes Region is a treasured experience. For many ...
Read More →
Home improvements

Home Improvements Before You Sell

One question I commonly get asked is, “What type of projects or improvements should I ...
Read More →
Single-Family units are down

How’s the Lakes Region Market Looking?

We’ve already passed the first quarter of 2023 for real estate sales in New Hampshire’s ...
Read More →
Moving into new home young happy couple celebrating toast Champagne

Buying a Home? Follow These Tips & Tricks

Spring has officially arrived and launches the beginning of our spring selling season for real ...
Read More →

How Marketing Real Estate Has Evolved

Back in the year 2000, the world was at the beginning stages of a major ...
Read More →
Mount Washington, New Hampshire

New Hampshire — 30 Reasons to Move Here!

With lakes, beaches, mountains, forests, rivers, and the ocean for people who enjoy the outdoors, ...
Read More →
New Hampshire Ski Resort

Ski Resorts in New Hampshire Are Ready for Spring Skiing!

It’s been a good week, and mother nature hit our region with a blanket of ...
Read More →
Market Trends

Real Estate Market Trends to Follow

I’ve been pulling up some current research on the real estate market on a national, ...
Read More →
Carol Mattice

Roche Realty Group Welcomes Carol Mattice

Meredith — Frank Roche, President of Roche Realty Group, Inc, with offices in Meredith and ...
Read More →
Kevin Shaw - Roche Realty Group

Kevin Shaw of Roche Realty Group is Top Producer for 2022

Laconia— Frank Roche, president of Roche Realty Group with offices in Meredith and Laconia, recently announced ...
Read More →
Lisa Lewis

Lisa Lewis Joins Roche Realty Group

Meredith — Frank Roche, President of Roche Realty Group, Inc, with offices in Meredith and ...
Read More →
Wanda Keenan

Wanda Keenan Joins Roche Realty Group

Meredith— Frank Roche, President of Roche Realty Group, Inc. with offices in Meredith and Laconia, ...
Read More →
Land for sale

Buy Land in New Hampshire — They’re Not Making it Anymore

The science is in and the more trees a state has, the happier and less ...
Read More →
The Price of Real Estate

Did The Price of Real Estate Increase in Your Town?

Everyone’s always interested to see how their real estate values have performed over the past ...
Read More →
Laid off employee in recession

Are We Headed into a Recession?

It’s pretty big news lately; Microsoft, Amazon, and other tech companies have laid off more ...
Read More →

Leave a Comment