Sanborn – Lakes Region waterfront sales report

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May showed a little uptick in waterfront sales on Winnipesaukee with 14 transactions at an average sales price of $907,196 and a median price point of $826,000. Four sales came in over the million dollar mark. Last May we had twelve transactions on the big lake at an average sales price of $638,231.
Not unexpectedly, the least expensive sale was on an island, 97 Bear Island in Meredith, to be exact. This is certainly not a luxury property but it got someone onto Winnipesaukee for only $165,000 which is over $100,000 less than the tax assessed value of $269,900. The property consists of a 1950s vintage, 1,245 square foot, two bedroom, one bath cottage on a .43 acre lot with 100' of frontage on the east side of Bear. This property was originally listed in November of 2011 at $229,000, was subsequently relisted in February of 2013, and sold after a total of 406 days on the market. I suspect someone is happy with a bargain basement buy on the big lake...
The property at 7 Red Sands Lane in Alton best represents the median price point sale. This is another 1950s vintage year round home with 984 square feet of living space, a classic knotty pine interior, hardwood floors, two bedrooms, one bath, and long range views up the lake. The 1.61 acre lot has 183' of frontage and a grandfathered docking system with a 31' x 13' deck over the water and two 10' x 30' docks. That's pretty darn nice and the new owner must have thought so, too. This property was on the market at $849,000 and sold for $803,000 after 147 days on the market. The current tax assessment is $775,700.
Honors for the highest sale of the month go to the property at 64 Timber Lane in Alton. This home is a newer construction, high quality, 7,296 square foot, Adirondack home built in 2009. It has 14 rooms, five bedrooms (including a first floor master suite with its own fireplace,) and six baths. The impressive, exposed post and beam great room has soaring cathedral ceilings, a massive stone fireplace (there are a total of six in the home), and fabulous views of the lake through a wall of windows. The chef's kitchen has a commercial grade gas range, two sinks, two dishwashers (I guess people can be messy here), cherry cabinetry, and granite countertops. Of course the walkout lower level would not be complete unless it had a fantastic game room, double sided fireplace, and lounge. Outside, you'll find bluestone patios, decks, and a granite set of stairs leading down to 150' of frontage with a U-shaped dock and breakwater. This home was first listed in January 2011 for $2.799 million, relisted in February 2012 at $2.699 million, and sold for $2.5 million after a total of 784 days on the market. The current tax assessment is $2.15 million. Pretty impressive.
There were no waterfront sales on Winnisquam last month. Zip, zero, nadda, none... But there were two on Squam. And someone appeared to get a good buy up there at 17 Marden Point in Holderness! This 1942 vintage, two bedroom, year round cottage is but twenty feet from the lake and was owned by the same people for over 50 years. It has an open concept living/dining area, a fireplace, and large screened porch. What else do you need? The cottage sits on a third acre level lot with 124' of water frontage. The property was originally listed at $694,000, was reduced to $489,000, and sold for $459,100 after 662 days on the market. The $100 was probably for the fishing gear the owner left there? The current tax assessment on the property is $700,830. I think that was a pretty good buy, don't you?!!
Another below assessment Squam Lake sale was at 69 NH Rt 113 in Holderness. This is an 1,880 square foot contemporary home that was built in 1995. It is across the street from the lake but has a separate lot on the water with 65' of frontage and a double dock. This move-in-ready home has three bedrooms including the master suite, three baths, a wood fireplace in the living room, a family room in the lower level, and great views of the lake. It also has a charming separate guest house with its own kitchen, living room, bedroom, and bath. Perfect for when Mom comes to visit. This home was listed at $580,000 and sold at $550,000 after just 15 days on the market. It is assessed at $613,220. Now that tells me this is a nice property and it was priced right!
Please feel free to visit to learn more about the Lakes Region real estate market and comment on this article and others. Data was compiled using the Northern New England Real Estate MLS System as of 6/11/13. Roy Sanborn is a REALTOR® at Four Seasons Sotheby's International Realty and can be reached at 603-455-0335.