Real Estate Tidbits in The Lakes Region

Lakes Region Real Estate Market - View of NH Lakes

Here’s a quick update on the market and a few things I’ve observed that will have an impact on the real estate market moving forward:

  • Housing statistics were just released by the New Hampshire Association of Realtors® for the month of February 2021 for single-family home sales in New Hampshire compared to February of 2020. Here are the results
    • Closed sales are up2%
    • Median sales price is up5%
    • The dollar volume of closed sales is up9%
    • Days on the market is down5%
    • Pending sales are down2%
    • Month of inventory available is down7%
    • New listings are down17%
    • Home for sales are down07%
  • According to the and, we can expect a big hit to second home and investment mortgages. Why? Fannie Mae just announced that they are limiting new loans secured by second homes or investment properties to 7% of the overall loans they purchase (approximately half their historic levels) effective April 1st. As a result, many mortgage lenders will soon be adding considerable cost to these types of mortgages because they can’t be certain that Fannie or Freddie will ultimately purchase the loans (due to the 7% cap noted above.)

This appears to be a big money grab to shore up their financial situation. However, this could have a big impact on the second home market here in the Lakes Region, the coastal towns in New England, and a huge impact on the Florida condo and second home investment properties. Cash purchases will obviously not be affected, but it will add increased costs to the financing process.

  • In a previous article in December, I mentioned Fannie and Freddie also added a 0.5% cost to all mortgage refinances over $125,000 because the pandemic increased defaults and forbearances. That added cost came at a hard time when families were experiencing financial difficulty. It seems like everything these days is increasing.
  • The US Treasury Yield this week hit 1.744%; this is the highest level we have seen since January of 2020. Keep an eye on this figure. If it gets close to 2%, we could see interest rates rise a bit further in the coming weeks. However, Freddie Mac’s chief economist stated, “while there are multiple temporary factors driving up rates, the underlining economic fundamentals point to rates remaining in the low 3% range for the year.” The increase in the 10-year yield is raising havoc with the NASDAQ exchange. Let’s hope interest rates don’t follow the same path forward.
  • The current number of single-family homes for sale in New Hampshire is 925 (in 2010, there were 11,000 single-family homes for sale in NH!). For condos, there are only 309. For mobile homes, there are only 68!
  • In Belknap County, there are only 78 single-family homes for sale, Carrol County has 102, and Grafton County has 97.
  • On Lake Winnipesaukee, there are only 17 waterfront homes available for sale! The lowest asking price is $795,000. The highest asking price is $19,500,000. The average price is $4,287,823. The median asking price is $2,000,000. When you consider the lake has 240 miles of shorefront, 17 homes for sale is telling me one thing… we need listings!
  • On some of the smaller lakes here is what we have for sale: Lake Winnisquam (1 listing), Squam Lake (2 listings), Newfound Lake (0 listings), Lake Opechee (0 listings), Lake Wentworth (0 listings, Merrymeeting Lake (0 listings), and Lake Kanasatka (1 listing). It looks like the waterfront scene is following Mark Twain’s famous quote, “Buy land they’re not making it anymore.” Certainly, if you’re not going to put money in real estate, where else? If you’ve been following Bitcoin, which has soared to $58,216 could that be your answer…only time will tell. Myself, I like real estate. You can physically use it and enjoy it. It cannot be lost, stolen, or carried away, and it is about the safest investment in the world. The only caveat is there are real estate cycles…at what point does a market appear overvalued? We have to be careful.
  • A core logic report stated, “the average New Hampshire homeowner gained $27,000 in equity in the 3rd quarter on a year over year basis. That was nearly double the national average of $13,000 in equity gain for the same period. New Hampshire’s gain was among the highest of any state.
  • The University of New Hampshire-Carsey School of Public Policy just reported New Hampshire is now gaining significantly more migrants from other US destinations than earlier in the decade. The Largest gains are among young adults 18 to 29). Each year an average of 8,300 more people moved to New Hampshire than left it for other US destinations between 2015 and 2019. This is good news for our state, which is challenged by an aging workforce and population.
  • During 2020 the most expensive home that sold in New Hampshire was on Lake Sunapee at $7.5 million, and the most expensive parcel of land sold was in Brookfield at $2.7 million for 80 acres!
  • During 2020, $8.8 billion of real estate was sold in New Hampshire, increasing 19% over the previous year.
  • There were 18,449 single-family homes sold, 5,052 condos sold, 1,131 mobile homes sold, and 2,717 land sales that took place in 2020.
  • So, I mentioned earlier there are only 925 single-family homes for sale in New Hampshire. We have a long way to go to reach last year’s volume of 18,449 sold homes.

As Warren Buffett said, “Games are won by players who focus on the playing field…not by those whose eyes are glued to the scoreboard.” Buckle your seatbelts here in the Lakes Region. This will be a very hectic selling season as we move forward.

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. Lake data was compiled by a NEREN search on 03/18/2021 at 3:00 pm EST and is subject to change. Please feel free to visit to learn more about the Lakes Region and its real estate market.

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 →
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 →

Leave a Comment