It seems like we are having a little resurgence in the condominium market in the Lakes Region. Just a little bit, but every little bit helps. Prices have dropped from the peak years and there is a pretty good supply of units available in all price ranges. Halfway through 2013 there have been 81 condominiums sold in Belknap County at an average price of $178,947. That total is up from the 72 transactions at an average of $157,002 per sale for the first half of 2012.
Laconia has the most condominium complexes of any town in the area. Consequently, it has the most units for sale and has had the most transactions with fifty two units changing hands during the first half of the year. Everything from cottage condos along Weirs Boulevard to higher end free standing townhomes are selling. And there are some bargains.
There were eleven units that sold below $100,000 in Laconia with five of those in the Meredith Bridge association over in the Weirs. These units typically are just under 1,000 square feet in size and have two bedrooms although there are some one bedroom garden units. They come with a garage or carport and the association has a nice clubhouse, pool, and gym. Plus, you can walk down to Weirs Beach and take a dip, play ski ball, or get lunch and two margaritas at Crazy Gringo's and make it back home without getting into trouble. Condos here are selling in the $65,000 to $85,000 range which is really pretty affordable for a vacation getaway or primary residence especially considering they were selling between $125,000 and $150,000 back in 2006 and 2007.
There were sixteen sales in the gated communities of South Down and Long Bay over the first six months of the year ranging from $147,474 for a 2,261 square foot, four bedroom bank owned unit at 5B Fells Way all the way up to $540,000 for a free standing 3,600 square foot home at 29 Prides Point. The homes in Long Bay are also a condominium form of ownership. There are a number of different associations within Long Bay with some providing full landscaping and snow removal services while others leave the lawn care for the owner. Of course, residents get the use of all the fabulous amenities including the beaches, docking facilities, walking trails, pools, and tennis courts. And it is these amenities that make these condos so desirable and saleable year after year. Imagine owning a condo in South Down for less than $200,000 and having all of these amenities! As of this writing I counted at least four available in that range.
There were sixteen condo sales in Gilford ranging from quarter shares in a one bedroom unit at the Fireside Inn and Suites (a.k.a. B Mae's Resort) for a mere $17,500 all the way up to $465,000 for a wonderful front row, three bedroom, four bath, 2,500 square foot unit in the desirable Broadview Condominium complex on Belknap Point Road. This unit has stunning views and the amenities include tennis courts, sandy beach, and docks. Of course, the Samoset Resort on Route 11 headed toward Alton is always a great place to settle in for an extended vacation with a great beach, pool, tennis courts and docks also available. A 1,173 square foot, six room, two bedroom, two bath unit sold here back in February for $186,500 while two other larger units came in at $260,500 and $280,000.
There are over two hundred and forty condos currently on the market in Belknap County. You can find a number of units for less than $100,000. Or maybe a spectacular new Adirondack style unit with great lake views in the Town Homes at Meredith Bay on Scenic Road in Laconia is more your style. Those will set you back something in the $500,000 to $600,000 but you're worth it, right? I guess the point is, whether you are looking for a primary home or vacation retreat there is something out there for every taste and budget. So let's get cracking and get out and buy that new vacation property...
Please feel free to visit www.lakesregionhome.com 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 7/24/13. Roy Sanborn is a REALTOR® at Four Seasons Sotheby's International Realty and can be reached at 603-455-0335.