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Housing inventory getting closer to healthy level

As of February 1, 2014 there were just 762 homes available in the twelve Lakes Region communities covered in this market report. That is pretty amazing to me as it is the lowest number I have seen in a long, long time. The current inventory level represents just an 8.8 month supply of homes on the market. That compares to an 11.5 month supply in February 2013, a 15 month supply in 2012, a 12 month supply in 2011, and 15 month's worth in February, 2010. We are approaching what would be considered a healthy inventory level rather than being awash in listings that are stagnating on the market. One can only hope that a good balance of supply and demand may be on the horizon!

We are one month into the New Year and we've had skaters skating, ice fisherman fishing, and the sled dogs will be running next weekend. There are a lot of great activities in the Lakes Region to take part in or watch this time of year. If your winter activity includes house shopping, here's a look at some of the new listings that have come on since the first of the year that might just be the bargain you have been looking for. There's a bank owned 1,984 square foot, six room, three bedroom ranch on a 1.35 acre lot at 90 Cherry Valley Road in Gilford that is on the market for $195,000 with an assessed value of $247,740. It was built in 1980 and features a master suite, a fireplace in the living room, partially finished basement, two car garage, and an in ground pool. The pictures look like it will need some updating, but hey, it seems like the price is pretty good compared to its assessment and it is Gilford so it may well be worth a visit to see what it's like.

There's a 1980 vintage shingle style cape at 118 Seavey Road in Belmont that might also be a bargain. It is priced at $174,900 which is 77 percent of the assessed value of $228,400. This home was built in 1980 and sits on a nicely landscaped, 5 acre level lot. It has 2,195 square feet of living space with two bedrooms, one bath, hardwood floors, a family room with cathedral ceilings and a brick fireplace, and a walkout lower level with the potential of an additional bedroom. Looks like a good deal to me...

There's a nicely maintained 2,432 square foot, three bed, two bath, contemporary home at 949 Cherry Valley Road in Gilford that is on the market for $249,000 which is 87 percent of its assessed value of $287,130. This home was built in 1986 and has an open concept floor plan, nice mountain views, a first floor master suite with two more bedrooms in the lower level along with a family room, a spacious screened porch, and two car garage. It is definitely worth a look!

There are a couple of nice properties that I wanted to mention just because they look very appealing and I could see myself living in either one. There is a nice Winnipesaukee water access home at 11 Jeremiah Smith Road in Moultonborough that has great curb appeal. This 3,545 square foot colonial has three bedrooms including the master suite, three baths, and a family room with a fireplace, cathedral ceilings, and exposed beams. The eat-in country kitchen also has exposed beams and a wood stove to keep everyone cozy and warm. There's a formal dining room, a wonderful four season room, and a wrap around farmer's porch that's perfect to rocking away the night...in July that is. This home has a two car garage and sits on a 1.83 acre lot close to snowmobile trails and is just 2/10 of a mile to a sugar sand beach. It is being offered at $436,000. Check out the pictures on-line and you'll agree it looks pretty nice!

Another nice property that was previously listed but just came back on the market is up on top of the world at 215 Pinnacle Hill Road in New Hampton. This is a 2,762 square foot ranch that was built in 2002 on a gorgeous 4 acre lot with mountain views. The home has a master suite with whirlpool tub, separate shower, and a walk-in closet. There are two guest bedrooms, an eat-in kitchen with black cherry cabinetry and hardwood floors, a living room with a gas fireplace, a bonus room over the two car garage, a walk out basement, and two covered porches. This property has easy access to Route 93 so it is a great commuter location. It is being offered at $334,900. Is it a good deal? You'll need to find out for yourself so give your agent a call, stop by the fishing derby, and then go take a look!

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 2/1/14. Roy Sanborn is a realtor at Four Seasons Sotheby's International Realty and can be reached at 603-455-0335.

 
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