We’re approaching the end of the third quarter for 2013 and I thought it would be appropriate to give a brief update on the status of Lake Winnipesaukee Waterfront sales year-to-date.
From 1/1/2013 to 09/23/2013 there were 95 “Closed” sales on Lake Winnipesaukee covering the towns of Alton, Gilford, Laconia, Meredith, Moultonborough, Center Harbor, Tuftonboro and Wolfeboro. The average selling price amounted to $917,845.00. It is interesting to note that Roche Realty Group, Inc. was involved in 25 transaction sides for the above. As a real estate company we’re obviously pleased with these results because it added considerably to our gross annual sales volume. When you compare stats from the same period in 2012, there were a total of 87 closed sales however the average selling price amounted to $1,040,399.
The net result was an increase in unit sales however the average selling price was lower compared to the previous year. Which means…..buyers were out there taking advantage of reduced selling prices and capitalizing on an oversupply of inventory. They were also taking advantage of the lowest interest rates in 40 years. We saw some great buys in Winnipesaukee Waterfront sales this year.
The highest sales price on Lake Winnipesaukee was at 37 Spindle Point Road, in Meredith, NH at $3,600,000, followed by another sale, this time in Alton at $3,570,250.
There were 29 sales over a million dollars year-to-date. There were 66 closed sales on Lake Winnipesaukee that sold for less than one million dollars! Many of these sales were well under the million dollar threshold.
On another interesting note there were a good number of Winnipesaukee Island sales that occurred in 2013, there were 14 island sales that started at a low of $165,000 at 97 Bear Island in Meredith and a high of $469,000 on Mark Island in Gilford, NH.
Looks like the market will show an increase in the average selling price as we enter the fourth quarter. As of 9/23/2013 there are 27 “pending” waterfront sales on Lake Winnipesaukee, of which, 17 were listed at over $1,000,000; 5 of them being priced over $2,000,000. Based on what has been occurring recently it appears the year should finish out better than last as long as the fourth quarter continues to show strong sales. We did see the pattern occur in the fourth quarter of 2012 and I expect the same results this year based on the activity we’re seeing out there in the field.
Posted by Frank Roche, President Roche Realty Group, Inc.
Data was compiled using the Northern New England Real Estate Network as of 09/23/2013. The above sales do not include non-MLS transactions and for sale by owners. Subject to errors and omissions.