The lure of Winnipesaukee — some eye-opening facts

New Hampshire’s biggest lake – one of the Northeast’s largest and cleanest – has roughly 180 miles of shoreline, 230 miles if you include its islands, and the average lakefront house has 150 feet of beach. That translates to a lot of owners and stakeholders, and a lot of money in waterfront real estate.

Since COVID, the Winnipesaukee area has lured lake lovers and fresh air seekers from throughout the Northeast, and sometimes California and the Pacific Northwest, according to local real estate sellers. Part of the pull comes from photos and statistics shared online and through social media.

Recently, Lake Winnipesaukee has been ranked at or near first place, vying with Lake Tahoe, Palm Beach and greater San Diego, when it comes to places to vacation or retire near culture and recreation, according to data from tracking organizations, and compiled by Roche Realty Group.

In 2021, U.S. News and World Report ranked NH fourth best state overall, including first for opportunity, low crime and law enforcement, second for natural environment and fifth for education. The state was rated top this year for quality of life for those considering moving to the US, according to both British ex-pats and the Organization for Economic Cooperation and Development.

New Hampshire has the second-highest quality of life in the nation, according to a 2021 report from World Population Review. The Granite State also boasts the country’s lowest unemployment rate and the lowest poverty rate, and has no sales, state income or capital gains taxes as well as no industry or machinery and equipment taxes, according to the US Census and other reports. It was recently rated “Best State in the USA to Raise Children” by the National Kids Count Survey.

With New Hampshire’s advantages extolled by opinion makers, and Lake Winnipesaukee’s vacation renown, greater numbers of far-flung buyers are planting roots here, often edging out local buyers.

Higher end waterfront has been selling for $3 to $3.5 million and up, and 95% of the offers are cash, said Kristin White of Dow Realty Group. “Our waterfront is a safe place to put money,” she said. “They’re not manufacturing any more land on the lake.”

Building lots are becoming scarcer. With its size and clean water, Winnipesaukee is one of the few mammoth inland water bodies on the East Coast. Investment-wise, it’s considered a short- or long-term hold.

Last year 177 single family homes on Winnipesaukee changed hands. The median sale price was $1.2 million. This year 127 were sold. The midpoint was $1.45 million. That’s 39% fewer homes, selling for at a median price almost 21% higher in one year.

Some lakefront buyers seek Moultonborough for its comparatively low property taxes, and because it has the largest supply of homes on the big lake.

In 2020, Moultonbourgh accounted for $3.48 billion in total assessed value of Winnipesaukee waterfront, and $24.8 million in property taxes, compared to $2.5 billion in property values and $32.5 million in property taxes in Meredith.

There are 273 different lakes, ponds and rivers in all of the Lakes Region, and they are experiencing a surge in interest as well. “People are looking at some of the smaller lakes," because of the lack of properties available on Lake Winnipesaukee, Roche.

Not all the alternatives are that small, or unknown. Fourteen homes sold on Newfound Lake this year, compared to six in 2020, according to NNEREN. Last year the median price for a house on that lake, which borders Bristol, Alexandria and Hebron, was $835,000. That rocketed to $1.28 million in 2021 – a 53% increase in one year.

“People are coming up in large numbers, wanting access to lakes, and not finding an adequate supply. That’s why you see bidding wars,” said Roche. “Everyone’s clamoring to get in. COVID was a catalyst to get people out of the cities in more rural areas, a refuge for their family to have more space between neighbors.” That trend extends beyond the Lakes Region.

With the COVID’s new world of hybrid work schedules and telecommuting, “People who own houses near Loon are staying in their houses all year,” Roche said.