A brisk 5-year sales breakdown of South Down Shores and Long Bay

South Down Shores and Long Bay on Lake Winnipesaukee are two very popular water access communities. They encompass over 360 acres with almost a mile of shorefront on Paugus Bay. These private gated communities feature unique condominium villages and single-family homes on private lots with many architectural styles and numerous amenities throughout.

I thought I would pull up the last three years of sales activity plus the first five months of sales during 2024 to provide a market overview. I also researched the total assessed valuations with the City of Laconia for all properties at South Down Shores and Long Bay. The total valuation was a staggering $406,141,100. When you multiply that figure by Laconia’s tax rate of $13.91 per $1,000, it amounts to $5.65 million per year in annual tax revenue. When I started marketing South Down Shores in the early 1980s for John Davidson, I dreamed both communities would contribute over $5.6 million a year to Laconia’s tax base.

Think of how many new buildings and infrastructure improvements the city has gained from South Down and Long Bay property taxes. These are private gated communities with a very small school enrollment, and the association maintains the roads.

Both communities have been an economic engine for the Lakes Region. Many home builders, lumber yards, landscapers, plumbers, electricians, surveyors, attorneys, realtors, restaurants, boat dealers, concert venues, car dealers, golf cart dealers, convenience stores, decorating services, charitable organizations, and other vendors have benefited immensely over the years from South Down and Long Bay.

Since 1983, Roche Realty Group and I have been involved in over 1,000 sales and transactions in both communities. We consider South Down Shores and Long Bay to be among the finest communities in New Hampshire.

Sales activity for South Down Shores, Long Bay

2021 — Condominium sales

There were 27 condominium sales. The median sales price was $450,000 and the average was $471,622. The lowest price was $249,900, and the highest price was $471,622. The median amount of time on the market was four days, and the total sales volume was $12,733,800.

2021 — Single-family home sales

There were 12 single-family home sales. The median sales price was $675,000, and the average was $628,460. The lowest price was $354,900, and the highest price was $889,921. The median amount of time on the market was four days, and the total sales volume was $7,541,521.

2022 — Condominium sales

There were 25 condominium sales. The median sales price was $518,000, and the average was $596,562. The lowest price was $400,00, and the highest price was $1,340,000. The median amount of time on the market was six days, and the total sales volume was $14,914,050.

2022 — Single-family home sales

There were 13 single-family home sales. The median sales price was $800,000, and the average was $806,523. The lowest price was $565,000, and the highest price was $1,100,000. The median amount of time on the market was nine days, and the total sales volume was $10,484,800.

2023 — Condominium sales

There were 22 condominium sales. The median sales price was $505,000, and the average was $597,222. The lowest price was $400,000, and the highest price was $1,200,000. The median amount of time on the market was 11 days, and the total sales volume was $13,138,900.

2023 — Single-family home sales

There were 10 single-family home sales. The median sales price was $805,000, and the average was $896,500. The lowest price was $632,500, and the highest price was $1,250,000. The median amount of time on the market was two days, and the total sales volume was $8,966,300.

2024 — Condominium sales

There were seven condominium sales. The median sales price was $509,900, and the average was $594,642. The lowest price was $481,200, and the highest price was $849,900. The median amount of time on the market was four days, and the total sales volume was $4,162,508.

2024 — Single-family home sales

There was one single-family home sale. The sales price was $1.1 million listed by Roche Realty Group. The days on the market was 45 days, and the total sales volume was $1.1 million.

As you can see from the above, there was very strong, consistent sales activity from 2021 to 2023. However, for the first five months of 2024, the number of sales dropped because of the lack of available properties for sale.

The demand for South Down Shores and Long Bay properties is always out there, and we’re hoping the inventory shortage will loosen up over the summer months. There will never be another community like South Down Shores and Long Bay on Lake Winnipesaukee.

When you figure the actual density on 360 acres, it ranges somewhere between 1.8 to 1.95 units per acre, resulting in a very attractive land plan with almost one mile of Paugus Bay shorefront with fabulous beaches, boat docks and berths, pools, tennis, walking trails, a small clubhouse, and other amenities. The landscape plan is outstanding.

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This article was written by Frank Roche, president of Roche Realty Group with offices in Meredith and Laconia, and can be reached at 603-279-7046. Visit rocherealty.com to learn more about the Lakes Region and its real estate market.