During the first quarter of 2014 the average sales price for waterfront homes on Lake Winnipesaukee amounted to $974,658, which involved a total of 20 sales. For the same 3 month period in 2013 the average price amounted to $973,364 involving 11 sales. The average price showed a small increase however the number of unit sales showed a 55% increase over the same period last year.
During the 12 month period of 2013 there were 113 waterfront mainland home sales; this excludes island sales, condos and land. This compares to 123 sales for the year 2012, a drop of 10 unit sales. However there were a considerable number of island sales which would bring the waterfront sales up considerably. You can see from the above chart that the average sales prices were up in 4-towns while they dropped in the others.
If you count island property sales for the year 2013 there were a total of 134 sales at an average sales price of $947,936. This would compare to 130 sales in 2012 at an average sales price just a hair over $1 million. There is no question the majority of the closings for 2013 were under the million dollar mark; this is a good trend for buyers out there. For the first time in recent years we’ve seen some excellent values out there on Lake Winnipesaukee.
This second chart gives a breakdown of the unit sales in each town fronting on Lake Winnipesaukee, indicating the number of sales at various price points. The chart indicates a heavy concentration of sales below the million-dollar mark and there were a limited number of sales at higher price points. It appears to be a very good time to get into the game and acquire a waterfront property.
As in previous years the town of Moultonborough led in unit sales with a total of 33 sales including island properties. This is the case in every year when you consider that Moultonborough has a total of 66 miles of shoreline, far exceeding the amount of shorefront the other towns include. Alton is next with 33 miles of shorefront.
Frank Roche, President of Roche Realty Group commented “2014 should turn out to be another good year. The numbers so far are indicating sales are up in the state in unit sales and average prices have been climbing slowly. Especially in the lower price ranges where there is a shortage of properties. The Dow Jones Industrial average has surged to new highs and the availability of attractive financing at low rates are still out there. With a strengthening economy and a continued loose monetary policy by central banks around the globe were looking forward to a decent year considering consumer confidence has improved tremendously since 2008. We do know that real estate inventory levels are shrinking around the country, the average days on the market are getting smaller and what was an over-supply of inventory several years ago has been dwindling. Some of the more recent articles in business magazines and on the news are pointing to a continued housing rebound”. Roche indicated his company had over $103 million dollars in sales volume, involving 395 transaction sides in 2013, where sales were up 30% over the previous year. Roche also commented “that since 1997 Roche Realty Group has produced sales volume of nearly $1.5 billion of Lakes Region properties. They are also ranked the #10 Real Estate firm in New Hampshire during that 17-year period. Out of 864 real estate firms in the state, that’s pretty good for a local, independent, family-owned business! We’re proud of our success and I attribute it to the quality and professionalism of our REALTORS® and staff and the beautiful region we all live and work in. Fortunately for all of us the Lakes Region is New England’s playground”.
This article was written by Frank Roche, President Roche Realty Group, Inc. | www.s21794.p694.sites.pressdns.com
Roche Realty Group can be reached at (603) 279-7046 (Meredith Office) or (603) 528-0088 (Laconia Office).
*The above figures were obtained from the Northern New England Real Estate Network (NNEREN) from 01/01/13 to 12/31/13 for waterfront owned excluding island, condo, and land sale and other figures including islands. Above sales volume and ranking for real estate firms were compiled from NNEREN to 01/01/97-12/31/13