There were 18 waterfront home sales on Winnipesaukee in September at an average price of $1,114,292 and a median price point of $652,000. That's up 13 sales from last September but the average sales price is down from $1.37 million. So far this year there have been 103 sales on the big lake at an average price of $921,565. For the first nine months of 2012 there were just 94 transactions but at a higher average sales price of $1.004 million. So the total number of sales is up 9 percent but the average sales price is down 8 percent. The average time on the market for the sales in 2013 was 168 days which is a lot better than the 237 days on market reported for sales in the same period in 2012, but you must remember many of these properties were listed multiple times so those numbers are imprecise to begin with.
The Winnipesaukee entry level award this past month goes to the property at 12 Farmington Road in Alton. This renovated, 1910 two bedroom cottage is fairly roomy with 1,848 square feet of living space and although it is across the street from the water it has a separate lot with its own waterfront, dock , and small boathouse/cabana. It really looks pretty nice in the pictures! This home was offered at $285,000 and sold for $275,000 after 95 days on the market. It has an assessed value of $177,400.
The home at 267 Dockham Shore Road in Gilford represents the median price point sale last month. This property consists of a 1912 vintage, three bedroom, one bath lake cottage on a .59 acre lot with 120' of sandy frontage and a 8'x40' crib dock. Now this property had been on the market for a little while. It was listed originally in July, 2008 for $1.25 million, and was subsequently re-listed five more times for a total of 1069 days before selling at $695,000. This kind of shows you how the data shown in the MLS for the number days on market might not tell the real story. Anyway, the property is assessed at $869,730 so the new owner must feel like he got a deal. He already has the property back on the market for $1.499 million with several design options for a brand new lake home.
The highest dollar sale on Winnipesaukee last month was at 47 Shore Road in Gilford. This 7,000 square foot contemporary home was built in 2009 by Skiffington Homes. It features all the requisite amenities and high quality finishes expected in a Skiffington Home. There's a custom gourmet kitchen, a two story great room with stone fireplace and views of the lake, a first floor master suite with separate sitting area and fireplace, three en-suites upstairs, a lower level family room, a huge post and beam porch, and of course a large deck for taking in the south west sun. This property was first listed in January 2007 for $2.995 million and has been on the market a total of 2,323 days before finding a buyer at $2.4 million. It is currently assessed at $1.69 million. Very, very nice...
There were three sales on Winnisquam in September ranging from $210,000 for a 1945 vintage, three bedroom cottage with 50' of frontage at 97 Tucker Shore Road in Belmont to $740,000 for a 4,460 square foot contemporary, six bedroom, four bath home built in 2002 at 23 Lakeside Drive in Sanbornton. This property had great broad views of Winnisquam and 100'of frontage. It also had some water damage that kept in on the market for 572 days before a buyer stepped up. It is currently assessed at $721,500.
Up on Squam, there was only one sale last month but it was a nice one! This property is located at 40 Bean Cove Road in Moultonborough and is a 5,000 square foot Adirondack built in 2003 on a 10.7 acre lot with 1,035 feet of frontage. This home is literally just a few steps to the water and situated on a peninsula that affords amazing views of Moultonborough Bay. This 5,000 square foot open concept home was designed by local architect Chris Williams and features three en-suite bedrooms, four baths, plus a bunkroom that sleeps six, a gourmet kitchen featuring soapstone countertops and sinks, hand hewn hemlock beams, a great room with floor to ceiling granite fieldstone fireplace, recreation room, wine cellar, and...you know, the list just goes on and on. The property was listed at $7.5 million and sold for a cool $7 million after five days on the market. The $41,263 tax bill equated to about a $4.8 million assessed value.
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 10/15/13. Roy Sanborn is a realtor at Four Seasons Sotheby's International Realty and can be reached at 603-455-0335.