How Real Estate Trends Affect the Lakes Region

Map of USA: How Real Estate Trends affect the Lakes Region

New Hampshire’s Lakes Region & New Hampshire

  • Can you believe a new analysis from Zillow has found that there are now 481 cities where the typical home is valued at $1,000,000 or more? Compare that to 285 cities on Zillow’s list in 2019. New York City and San Francisco Metro areas led the pack. Obviously, 2021’s record run-up in home price appreciation of 19.6% was part of the reason. Luckily we are living in New Hampshire’s Lakes Region!
  • I was also surprised to see that nationally the average size of a new mortgage just set a record as home prices have continued to climb. The average purchase loan size was a staggering $453,000. That’s a lot of debt for an average home loan.
  • According to, the average rate on a 30-year fixed-rate mortgage is 4.19%, with an APR of 4.12%. We are no longer at 40-year lows, and markets are predicting 4 rate increases this year. Possibly the current events in Ukraine could affect the Fed’s thought process; however, it’s obvious the Fed is behind the curve with inflation spiking at 7.5%, the fastest pace in 40-years. Take a look at applications to refinance a home loan which are now less than half the volume of a year ago. Rates are on the rise.
  • It’s not good news that consumers ended 2021 with record levels of debt currently at $15.6 trillion, according to the Federal Reserves New York District. This represents a $1 trillion increase over the previous year. This represents the largest annual gain ever in records going back to 2003. The largest chunk of consumer debt came from mortgages at $11 trillion mortgage originations alone totaled over $4.5 trillion — a new record.
  • Our clients in the Lakes Region are feeling the huge pressure from the lack of inventory which is compounded by the increase in interest rates…it feels like they are being hit on both ends.
  • com reports that new data shows national rents grew five times faster in 2021 than in 2020. In December, rents notched the 6th straight month of double-digit yearly increases nationwide. A key trend driving rental demand and price growth in many areas is rising workplace flexibility.
  • What’s pretty amazing when you look at national trends and statistics New Hampshire is showing up right at the top spot. According to, Manchester, NH, snagged the top spot as the hottest market in the United States. What’s remarkable this is the 10th time Manchester was #1 in 2021 on a monthly basis. Burlington, NC was #2, Rochester, NY was #3, Fort Wayne, IN #4, Oxnard, CA #5, Vallejo, CA #6, Santa Maria, CA #7, and Raleigh NC #8. Most of these metro areas were cheaper alternatives to larger, more expensive cities. With fewer white-collar professionals back in their offices full time, many are looking for reasonably priced homes farther out but within commuting distance. Affordability is their #1 concern. looks at where the most potential buyers are clicking on property listings. Properties in these markets also showed fewer days on the market. These markets also showed stronger job markets. Manchester, a city of 115,000 residents, is just an hour north of Boston; however, homes in the New Hampshire metro area were about $150,000 less than in the Boston metro area, where the median listing price was just under $700,000. Manchester is close to Boston with lots of jobs; it’s located in a state with no income tax or sales tax. It offers access to the outdoors and recreation activities which is where the Lakes Region comes in… “We are New England’s playground.” Homes in the Manchester metro market are selling at lightning speed, selling 10 days faster than the rest of the country at 38 days. It’s simple…people are taking advantage of the current remote employment landscape, and they are looking for their dream homes farther out which is accelerating sales in New Hampshire’s Lakes Region. Many of these buyers in the Greater Manchester area are coming from Massachusetts, Connecticut, Rhode Island, New Jersey, and New York, with homes selling in fewer than 21 days.
  • So when you look at the Lakes Region with our multitude of lakes, rivers, mountains, hiking trails, ski areas, and cultural resources, it’s no wonder that the Lakes Region is experiencing the same similarities as in the Greater Manchester area. People want to be up here in the worst way…they love our small-town communities, slower pace, and our inspiring natural resources. It’s a simple supply and demand issue. More and more out of staters who can work from home want to come to New Hampshire, but there are just aren’t enough houses for sale.
  • Here’s what we’re looking at… in 2011, just ten years ago, there were over 10,000 homes for sale in New Hampshire. At the present time, we have only 649 houses for sale—a huge

New Hampshire Statistics for 2021

  • 2021 median sales price: $395,000
  • 2020 median sales price:$335,000
  • 2021 closed sales: 17,485
  • 2020 closed sales: 18,474
  • 2021 sales volume: $8.04 billion
  • 2020 sales volume: $7.24 billion
  • 2021 average days on the market: 26
  • 2020 average days on the market: 47
  • 7 of the highest 11 single-family home sales in New Hampshire took place in the Lakes Region during 2021

Top 3 Sales in New Hampshire in 2021

  • $8,500,000 Meredith, Lake Winnipesaukee 8,372sf, 6 bedrooms, 9 bathrooms.
  • $6,000,000 Gilford, Lake Winnipesaukee, 6,201 sf, 5 bedroom, 7 bathroom
  • $5,280,000 Gilford, Lake Winnipesaukee, 8,288sf, 6 bedrooms, 6 bathrooms.

So looking ahead, I feel many of the dynamics seen in 2021 will carry through into this year’s housing market but at a much less frenzied pace. Low inventory will likely continue to be a dominating feature of this year’s market in the Lakes Region. However, interest rates are creeping up, which will ultimately affect the rapid rise in home prices. Sounds like a good time to be selling!

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

Share on facebook
Share on twitter
Share on reddit
Share on pinterest
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 →
Price Reduced

2022 vs. 2021 — Is The Lakes Region’s Frenzied Market Over?

It’s that time of year to provide all of you with an update on real …

Read More →
Roche Realty Meredith

Roche Realty Group Reports a Record of $181 Million in Sales

               Meredith- Frank Roche, President of Roche Realty Group, Inc, …

Read More →
Hillside Inn Winter

12 Things To Get You Through The Winter Months

On December 21st, the winter solstice marked the start of when days will begin to …

Read More →
Housing Inventory Lacking - Lake Winnisquam, NH

Lake Winnisquam, NH’s 4th Largest Lake is in Strong Demand

There are literally 273 lakes, ponds and rivers to enjoy in New Hampshire’s Lakes Region. …

Read More →
Interest Rates

Will We Ever See 1980s Interest Rates?

I was with a Realtor® friend of mine this past week, and we discussed what …

Read More →
Hikers overlooking the lake in New Hampshire, voted "Best State to Live in America" in 2020.

Squam Lake — a Lakes Region Treasure

This past summer, I was invited for lunch and a nice boat ride around Squam …

Read More →
Shop Local New Hampshire

Small Business Saturday in New Hampshire!

We have many things to be thankful for here in New Hampshire, plenty of natural …

Read More →
Couple downsizing to smaller home

Does Downsizing Your Home in Lakes Region Make Sense?

There are many things to consider when planning to sell your home to downsize into …

Read More →
Newfound Lake, New Hampshire

Newfound Lake is the 8th clearest lake in US

Newfound Lake is the 8th clearest lake in the United States New Hampshire has a …

Read More →
Echo Lake New Hampshire

New Hampshire Rankings are Impressive!

New Hampshire has always been fortunate to land in many of the country’s top 10 …

Read More →
Lakeside at Paugus Bay

Impressive New Construction in the Lakes Region

For new construction sales in New Hampshire’s Lakes Region, 2022 has shown very impressive results. …

Read More →
Inflation and housing prices

How Inflation Impacts Lakes Region Housing Prices

I was out with a friend this week on Squam Lake, and we were talking …

Read More →
Picture of author in the Grand Canyon

Is Lake Region Real Estate Drying Up Like The Southwest?

I just returned from a trip to Nevada, Arizona, and Utah this past week. Put …

Read More →
Brook Hill at Meredith: New luxury homes in Meredith, NH

Brisk Sales at Brook Hill in Meredith

Meredith— Sales at Brook Hill, a new luxury townhouse community in Meredith, have been exceptional …

Read More →

Impressive Sales at Lakeside at Paugus Bay

Laconia— Sales at Lakeside at Paugus Bay, a new luxury waterfront condominium community on Lake …

Read More →

Four Decades of Change in Lakes Region Real Estate

We were talking in the office the other day regarding how much the real estate …

Read More →
Supply and demand graph, real estate housing

The driving forces in the demand for NH housing

It is no secret that our country has seen some incredible growth in the real …

Read More →
Holderness, NH

Holderness Bridges Big Squam and Little Squam

Holderness is a lakeside community in the foothills of the white mountains on New Hampshire’s …

Read More →
high inflation

Energy & Ukraine Crisis Compared to 1970s Inflation

Russia’s invasion of Ukraine has emerged as a black swan event rattling the world during …

Read More →
Tilton, NH

Tilton — The Gateway to New Hampshire’s Lakes Region

Tilton, New Hampshire, is considered the gateway to New Hampshire’s beautiful Lakes Region because of …

Read More →
Map of USA: How Real Estate Trends affect the Lakes Region

How Real Estate Trends Affect the Lakes Region

New Hampshire’s Lakes Region & New Hampshire Can you believe a new analysis from Zillow …

Read More →
Laconia NH

Laconia, NH — A City on the Rise

The 17,000 resident “City on the Lakes” is nestled on the shores of three of …

Read More →
Two ice sailing enthusiasts on Lake Winnipesaukee.

Waterfront Sales Activity and Real Estate News

Here’s an update on the waterfront sales activity that we experienced over the past two …

Read More →
Tuftonboro, NH

Tuftonboro — “The Diamond in The Heart of New Hampshire”

Located just west of Wolfeboro, Tuftonboro is called “The Diamond in the Heart of New …

Read More →
Aerial view of Lake Winnisquam and Sanbornton, New Hampshire

The Rural Character of Sanbornton, New Hampshire

Sanbornton embodies all that one expects to find in an old New England town. This …

Read More →
Castle in The Clouds is one of Moultonborough's largest attractions.

Moultonborough’s 66 Miles of Shorefront Captivates

By landmass Moultonborough, NH is the largest lakefront community in the Lakes Region with 59.7 …

Read More →
Kevin Shaw - Roche Realty Group

Kevin Shaw of Roche Realty Group is Top Producer for 2021

Laconia— Frank Roche, president of Roche Realty Group with offices in Meredith and Laconia, recently …

Read More →
Wolfeboro, NH — The Oldest Summer Resort Town In America

Wolfeboro, NH — The Oldest Summer Resort Town In America

Wolfeboro: a Brief History Nestled in the foothills of the White Mountains and on the …

Read More →

Roche Realty Group Reports Record of $170 Million in Sales

Meredith- Frank Roche, President of Roche Realty Group, Inc, with offices in Meredith and Laconia, has …

Read More →
Meredith NH

Gilford and Meredith NH – How Do They Compare?

There are 25 towns and cities comprising the Lakes Region. This week I thought I …

Read More →

EM Heath, LLC Acquires 1084 Union Ave in Laconia

The future of Ace Hardware EM Heath LLC in Laconia became solidified this past week …

Read More →
Roche Realty Group Sells Landmark Commercial Building in Gilford, NH

Roche Realty Group Sells Landmark Gilford Commercial Building

Gilford- One of the most visible, historic landmark commercial properties in New Hampshire’s Lakes Region …

Read More →
New Commercial Constructioin in Lakes Region

Commercial Sales Increasing in the Lakes Region

Recently I’ve been outlining the sales activity for residential, waterfront, and multi-family apartments in the …

Read More →
Laconia NH Commercial Building Sale

New Owner for 8,447 Sqft. Commercial Building in Laconia

Laconia— Exciting news for the downtown Laconia district. Another substantial commercial building, including approximately 8,447 …

Read More →

Strong Demand for Multi-Family Apartments in NH’s Lakes Region

Last week I was driving through Loudon Road in Concord in the busy heights area, …

Read More →
NH Lake

Area Lakes Show Considerable Appreciation

Below you will find data and insight into what’s happening in sales activity on 8 …

Read More →
inflation in shopping center / grocery store

More Inflation Concerns

More Inflation Concerns I submitted an article a while ago titled “Is Our Current Inflation …

Read More →
Alpenrose Village Retail Center located at Rte. 11 B / Rte. 3 in Weirs Beach, Laconia

Roche Realty Group Sells Alpenrose Village Retail Center

Laconia, NH – Tom Drouin of Roche Realty Group in Meredith represented both the seller and the …

Read More →
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 …

Read More →

10 Things to Consider if You’re Buying in a Seller’s Market

Anyone looking to buy a home today knows they are in a seller’s market, which …

Read More →

Third Quarter Update – Lakes Region Real Estate Activity

I’ve pulled up some data to provide all of you with some current insight on …

Read More →
Home Maintenance - Person repairing wall in house

Home maintenance the difference between sold and stuck

Be honest… is your home in need of some repairs? Because the truthful answer to …

Read More →
Coins stacked up indicting inflation

Is our Current Inflation “Transitory?”

The Federal Reserve officials have described the current period of high inflation as “transitory.” In …

Read More →
ABBA Tribute performing at the Lakeport Opera House

Meet you at the Lakeport Opera House

Last Saturday, Nancy and I were invited to the Lakeport Opera House to take in …

Read More →
Picture of

The New Hampshire Advantage

All of us who live in New Hampshire’s beautiful Lakes Region certainly have lots to …

Read More →

Just like vacation seasons, vacation homes come and go

When you think about it, all homes are actually seasonal properties. Whether it’s a primary …

Read More →

Hunt for lower prices like a lone wolf

If you ever watched Saturday morning cartoons back in the day, you may recall Looney …

Read More →
Birds eye view of Lakes Region New Hampshire

Lakes Region Real Estate Market 6-Month Comparison

We are halfway through 2021 already, and as we head down the second-half stretch, I’ve …

Read More →

Leave a Comment