I thought I would look at the real estate activity on the Lakes Region’s four largest lakes and compare the first 5-months of closed sales this year to the same period in 2020.
Here’s how sales are shaping up on the h2o:
Lake Winnipesaukee:
There were 43 Lake Winnipesaukee waterfront homes sold from 1/1/21-5/31/21. The average sales price came in at $1,921,546, and the median price point was $1,700,000. The median days on the market was 21. The total sales volume was $82,626,500. The highest sales price was $6,400,000.
Comparing the same 5-month period in 2020, there were 37 Lake Winnipesaukee waterfront homes sold from 1/1/21-5/31/21. The average sales price came in at $1,431,101. The median price point was $1,100,000. The median days on the market was 33. The total sales volume was $52,950,750. The highest sales price was $4,900,000.
Wow! A 56% increase in total sales volume and a 56.5% increase in the median sales price, plus a 16.2% increase in the number of waterfront homes sold during the same period. At the present time, there are only 10 waterfront homes available for sale on Lake Winnipesaukee. It looks like we will have a tough time exceeding the first 5-months sales volume with the shortage of active listings. I’ve never seen the inventory level on the ‘Big Lake’ so depleted.
Squam Lake:
There were 2 Squam Lake waterfront homes sold from 1/1/21-5/31/21. The average and median sales price was $2,075,000. The median days on the market was 213. The total sales volume was $4,150,000. The highest sales price was $2,300,000.
For 2020 covering the 1/1/2020-5/31/2020 period, there were no sales. Very little activity because of the shortages of listings. At the present time, there are no listings available for sale on Squam Lake.
Lake Winnisquam:
There were 6 Lake Winnisquam waterfront homes sold from 1/1/21-5/31/21. The average sales price was $1,180,550, and the median price point was $1,082,500. The median days on the market was 3; the homes sold very fast. The total sales volume was $7,083,304. The highest sales price was $2,718,304.
Comparing the same 5-month period in 2020, there were 3 Lake Winnisquam waterfront homes sold from 1/1/21-5/31/21. The average sales price was $405,666, and the median price point was $275,000. The median days on the market was 29. The total sales volume was $1,217,000. The highest sales price was $677,000.
What a huge difference between the two periods. A 482% increase in total sales volume and a 294% increase in the median sales price, plus a 100% increase in the number of waterfront homes sold during the same period. Unfortunately, there were not many sales for comparison purposes. At the present time, there are only 2 waterfront homes available for sale on Lake Winnisquam. With the massive shortage of inventory available, the number of sales for the full year looking forward looks dismal compared to previous years.
Newfound Lake:
There were only 2 Newfound Lake waterfront homes sold from 1/1/21-5/31/21. The average & median sales prices came in at $1,215,000. The median days on the market was 8. The total sales volume was $2,430,000. The highest sales price was $1,280,000.
Comparing the same period in 2020, there were 3 Newfound Lake waterfront homes sold from 1/1/21-5/31/21. The average sales price was $998,333, and the median price point was $765,000. The median days on the market was 12. The total sales volume was $2,995,000. The highest sales price was $1,640,000.
The first 5-months of 2021 showed a 58.8% increase in the median sales price; however, a 50% decrease in the number of waterfront homes sold on Newfound Lake. At the present time, there are only 2 waterfront homes available for sale on Newfound Lake. Inventory levels on this lake are extremely low. The lowest historically!
So far, in 2021, the highest sale on all four lakes was at 270 Governor Wentworth Highway in Tuftonboro. This custom-built Adirondack sold for $6,400,000. The new owner is enjoying 11+ acres with 305 feet of frontage on Lake Winnipesaukee with two docking systems and a gorgeous walk-in sandy beach. The 8,660 sqft lake home included 8 bedrooms, 10 baths, beautiful stone fireplaces, high-end finishes, and a 3-car attached garage. Definitely a slice of paradise!
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. Waterfront sales data was compiled by a NEREN map search on 06/3/2021 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.
