We start 2014 off with eight waterfront transactions on Lake Winnipesaukee in the month of January at an average sales price of $1,150,771. Last January, there were just two sales at an average of $660,000 so you'd have to say this is a good start for the year.
The lowest priced sale for the month was at 49 East Side Drive in Alton. This home was originally offered at $599,000 in August of 2012, was reduced to $495,000, and sold for $480,000 after a total of 413 days on the market. This 1890s vintage home has been updated and has 1,881 square feet of living space, three bedrooms, one and a half baths, a modern kitchen (versus a non-modern one, I guess), high ceilings, bead board, and a fireplace in the living room. There are six sets of sliders and a wrap-around porch to ensure you've got a good view of the lake. A small boat house and docking for five boats is right across the street on the lakefront. It's like having your own marina over there! But, the fact that you do have to cross the road to get to the lake always impacts the value of a property and hence the lower sales price.
Over in Laconia at 146 Birch Haven on Paugus Bay, a 2,207 square foot, Adirondack style home built in 2006 found a new owner in just ten days! This is a great example of a smaller waterfront home with tons of character and appeal. This open concept home has four bedrooms (two on the main level and two upstairs), two baths, a great room with cathedral ceilings, a fieldstone gas fireplace, an eat-in kitchen, lots of natural woodwork, and a wall of glass to bring in the views! This house sits on a .27 acre lot with 100 feet on frontage. It was offered at $989,000 and quickly went under contract in just 10 days at $775,000. The tax assessed value is $558,400. This just goes to show that not everything has to be way below assessed value to be a good deal.
The home at 17 Echo Landing Road in Moultonborough wins the Gold Medal for January with the highest sales price of $2,255,000. This home is a spectacular, 4,848 square foot, Adirondack style lake house with five bedrooms including the first floor master suite and four and a half baths. This is one gorgeous home with cathedral ceilings, exposed beams, wainscoting, floor to ceiling fieldstone fireplace, a wonderful country gourmet kitchen, a fabulous three season sun room, a lower level family room (of course) and a three car garage. There is stunning superior craftsmanship throughout! The home sits on a professionally landscaped 1.24 acre lot with 126' of frontage on Moultonborough's Gold Coast. It was offered at $2.495 million, reduced to $2.395 million, and sold for $2.225 million after 147 days on the market. It is currently assessed by the big city of Moultonborough at $1.776 million. Good deal? I bet the new owner thought so...
There were two sales on Winnisquam in January. Over in Belmont, at 29 Gilman Shores Road, there is a cute three bedroom , one bath, 1,143 square foot cottage built in 1945 sitting on a .31 acre level lot with 99' of frontage. It came on the market at $399,000, was reduced to $389,000, and sold for $332,500 after 89 days in the market. The assessed value was listed as $392,600. On the other end of the lake at 25 Eastman Shore Road in Laconia there is a 1950s, two bedroom seasonal camp that also has a new owner. This little fixer-upper sits on a .86 acre lot with 170' of frontage with a gradual entry into the water. It was listed at $425,000 and sold for full price after just seven days on the market. It is assessed at $527,100. I'd say it was a pretty good deal to sell that quickly.
Up on beautiful and serene Squam Lake, there was only sale for the month but it was a pretty nice one. The property is located at 213 Metcalf Road in Sandwich on Rattlesnake Cove. While there is a 60s vintage, two bedroom, seasonal camp to use there the real value here was in the 3.8 acre lot with 300' of pristine Squam frontage. The property provides great privacy and beautiful sunsets, so I highly suspect the plan might be to build a new home there. This property was listed at $1.695 million, reduced to $1.495 million and sold for $1.350 million after 204 days on the market. The assessed value is listed as $1,798,600.
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 2/12/14. Roy Sanborn is a realtor at Four Seasons Sotheby's International Realty and can be reached at 603-455-0335.