New Hampshire’s Four Largest Lakes Lack Inventory

Housing Inventory Lacking - Lake Winnisquam, NH

As we’re nearing the 1st quarter of sales activity in the Lakes Region, I thought I would compare the closed waterfront home sales on several of our major lakes to the same period in 2020:

Lake Winnipesaukee (1/1/2021-3/24/2021 without islands):

  • There were 13 waterfront home sales.
  • 3 sales were in Alton, 3 sales in Tuftonboro, 2 sales in Laconia, 2 sales in Meredith, 2 sales in Moultonborough, and 1 sale in Wolfeboro.
  • The average sales price was $1,627,115.
  • The Median sales price was $1,650,000.
  • Total sales volume was $21,152,500.
  • The average days on the market was 170.
  • The median days on the market was 68.
  • The lowest sales price was at 210 States Landing Road in Moultonborough at $725,000. The property included a .75-acre lot with 150 feet of shorefront and a rustic 2-bedroom, 1-bath 796 sqft seasonal cottage.
  • The highest sales price was at 19 Sawyer Point Road, Tuftonboro, at $3,250,000. The property included 1.1-acres with 220 feet of shorefront with a custom 5-bedroom, 6-bath 6,500 sqft log home with a 3-car garage, double bay boathouse, and inground pool.

Lake Winnipesaukee (1/1/2020-3/24/2020 without islands):

  • There were 14 waterfront home sales.
  • 6 sales were in Moultonborough, 3 sales in Alton, 2 sales in Laconia, 2 sales in Meredith, and 1 sale in Wolfeboro.
  • The average sales price was $1,787,803.
  • The median sales price was $1,310,000.
  • Total sales volume was $25,029,250.
  • The average days on the market was 53.
  • The median days on the market was 33.
  • The lowest sales price was at 87 Harglen Lane, Laconia, at $470,000. The property included 0.62-acres with 125 feet of shorefront on a small cove separated by a railroad track overpass to Paugus Bay with a 674 sqft cottage.
  • The highest sales price was at 73 Spindle Point Road in Meredith at $4,900,000. The property included 3.04-acres with 407 feet of shorefront and approximately 8,426-sqft of living space.

My observations:

  • A very similar number of sales year to date.
  • Average sales price lower in 2021 because of the $4,900,000 sale in 2020.
  • Median sales price higher in 2021, resulting in a 25.95% increase over 2020 because of the limited supply of inventory for sale.
  • Median days on the market lower in 2020 surprised me (33 vs. 38)
  • Total sales volume was 18.3% higher in 2020 vs. 2021 because of the limited supply of inventory for sale.
  • At the present time, there are only 17 waterfront homes for sale on Lake Winnipesaukee with 240 miles of shorefront. There is huge demand this season for acquiring properties on New Hampshire’s largest lake. It will be a difficult year for Realtors® with a limited amount of inventory for sale.

Lake Winnisquam (1/1/2021-3/24/2021):

  • There were only 2 waterfront home sales.
  • 1 Sale was in Meredith, 1 sale in Sanbornton.
  • The median sales price was $1,082,500.
  • Total sales volume was $2,165,000.
  • The median days on the market was 3.
  • The lowest sales price was at 3 Bay Road, Sanbornton, at $875,000. The property included a 0.45-acre lot with 221 feet of shorefront, 2 docks, sandy beach, and a lake home with approximately 3,252 sqft of total living space.
  • The highest sales price was at 37 Stoney Brook Road, Meredith, at $1,290,000. The property included 0.37 acres with 80 feet of shorefront and featured a 4,768 sqft lake home in a quiet area of New Hampshire’s fourth-largest lake.

Lake Winnisquam (1/1/2020-3/24/2020):

  • There was 1 waterfront home sale, and it was located in Belmont.
  • The sales price was $265,000
  • The days on the market were 202.
  • The sale was at 120 Sunset Drive, Belmont, at $265,000. The property included 0.29-acres with 71 feet of shorefront located on a canal. The lake cottage included 992 sqft of living space.

My observations:

  • Little to observe for comparisons, 1 sale in 2020 located on a canal, NOT true water frontage for comparison.
  • Lake Winnisquam has seen a real leap in values over the past year and three months compared to previous years.
  • The existing inventory has sold off. At the present time, there are no waterfront homes for sale. When you consider the lake has 28.2 miles of shoreline and how many homes are located on each mile, it’s very rare to see the inventory level at zero! It will be a difficult year for Realors®, all of them have customers for the lake, and there is no available product.

Squam Lake (1/1/2021-3/24/202):

  • There were NO waterfront home sales during this period.

Squam Lake (1/1/2020-3/24/2020):

  • There were NO waterfront home sales during this period.
  • There are presently only 2 waterfront homes for sale on Squam Lake today.
  • With strong demand, competition for listings will be ough as it is every year.

Newfound Lake (1/1/2021-3/24/2021):

  • There were 2 waterfront home sales in Bridgewater and Bristol.
  • The median sales price was $1,215,000.
  • The median days on the market was 8.
  • The lowest sales price was at 171 Shore Drive in Bridgewater for $1,500,000. The property included a .55-acre lot with 110 feet of shore frontage and a lake house with 3,088 sqft of living space.
  • The highest sales price was at 185 Pikes Point Road in Bristol at $1,280,000. The lot included 1.21-acres with 96 feet of shorefront, and the lake house includes 3,772 sqft of living space.

Newfound Lake (1/1/2020-3/24/2020):

  • There were NO waterfront home sales during this period.

My observations:

  • At the present time, there are NO waterfront homes for sale on the lake.
  • Considering there are 22 miles of shoreline, it is rare to see no waterfront home for sale.
  • It looks like 2021 will be a difficult year for Realtors® on Newfound. There’s always a strong demand for this crystal clear lake.

You can see from the above that there is strong demand and very limited inventory on our major lakes. It is without question the best possible time to sell your waterfront property.

 

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. Waterfront properties sales data was compiled by a NEREN map search on 03/24/2021 at 3:00 pm 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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