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Sanborn — May 2014 Lakes Region waterfront sales report

There were ten Winnipesaukee waterfront transactions in May of 2014 at an average sales price of $797,100 and a median price point of $672,500. In May of 2013 there were 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, this past month there were two. For those that keep score, there have been 37 sales so far this year on the big lake compared to 35 for the same period last year.

The largest sale was at 15 Olive Street in Alton. This Adirondack home was built in 1997 but was gutted in 2005 and updated. It has 6,422 square feet of luxurious living space with four bedrooms including the first floor master suite and six baths. Of course you'll find a great room, gourmet kitchen, media room, library, five fireplaces, two decks, two screened porches, and the requisite family room in the basement. Gotta have that! The home sits on a 1 acre level lot with 440 feet of frontage and a U-shaped covered dock complete with a boat lift. Oh yeah, there are long range views of Winnipesaukee and the Ossipee Mountains beyond. This property was first listed in February of 2012 for $2.95 million, was reduced eventually to $1.895 mil, and sold for $1.745 mil. That's only $1.2 million off the original list. Ouch! It is currently assessed for $2,128,600, so I guess the new owner must be pretty happy.

The mid-priced sale was at 125 Pinnacle park Road in Meredith. This house is a nice 1,524 square foot cape with wood shingle siding built in 2006. It has two bedrooms, two and a half baths, a beautiful open concept living area, a walk out basement, and deck overlooking 97' of water frontage and a dock. The house sits on a challenging half acre lot. By challenging, I mean steep. So steep that from the street you look straight down on the roof. Scary actually, but maybe the buyer is a mountain climber or skydiver. This home was listed at $709,900 in June of 2013, was reduced to $689,000, and sold for $650,000 after 282 days on the market. It is assessed for $634,000. Good deal? Only if you have good brakes on the Family Truckster.

The least expensive sale was, not surprising, an island property at 372 Rattlesnake Island. This circa 1965, 1,032 square foot, five room, two bedroom, one bath camp is well maintained and sits on a .83 acre level lot. It has 105 feet of frontage with a sandy bottom and two docks. Now, someone really wanted this sandy bottom because it was on the market for only two days. It was listed at $329,900, sold for $301,000, and is assessed for $311,700 by the good folks down in Alton. I bet the new owners are out there this weekend killing rattlesnakes and having a grand time.

There was just one sale on Winnisquam and that was at 25 Bay Shore Drive in Sanbornton. This 1930s vintage, 2,975 square foot, cape style waterfront home has four bedrooms, two and a half baths, a spacious living room, kitchen with breakfast nook, four season sunroom, and a two car garage. The home sits on a .18 acre beautifully landscaped lot with 100' of frontage. This property is conveniently located not far from the Winnisquam Bridge. This home was listed at $578,500 and quickly went under agreement for $544,900 in just eleven days. It is assessed at $482,800. Nice.

Once again, there were no sales on Squam, but they are all about quality, not quantity, up there.

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 6/11/14. Roy Sanborn is a realtor at Four Seasons Sotheby's International Realty and can be reached at 603-455-0335.

 
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