Lakes Region first quarter sales 2022 vs. 2021

I just researched the sales activity for the first quarter of 2022 compared to the first quarter of 2021. I used the eight towns surrounding Lake Winnipesaukee, and the results are a disturbing continuation of what we have been seeing.

• You can see from the statistics below of the eight towns that the majority had fewer listings sold.

• The great majority had median selling prices that increased substantially in 2022 over 2021.

• The total sales volume, likewise, was substantially higher in the majority of the towns for 2022.

• As we head into the spring/summer market, we are faced with 40-year high inflation at 7.9%. Fixed 30-year interest rates have increased to 5.08%. The 10-year yield has risen to 2.648%, an adversarial Federal Reserve with more rate increases on the horizon are taking an aggressive stance to slow down the markets, and surging interest rates are pushing mortgage demand down more than 40% from a year ago, according to CNBC.

• About 12% of the homes for sale in the country had a price drop during the four-week ending April 3, 2022 and the number of new listings last week jumped 8% from a year ago according to CNBC.

• For the first three months of 2022 in the eight towns, there were 10% fewer listings than the previous year, which was likewise very low.

• According to NPR, the monthly mortgage payment it takes to buy the typical home in the U.S. is now up by a staggering 55% compared with the start of last year. That’s because of the dramatic rise in mortgage rates in recent weeks on top of price gains in the hothousing market.

• With the higher mortgage rates, the overheated housing market will likely cool down, bringing an end to the frenzied buying and bidding wars and I think home price appreciation will significantly cool off. That is basically what the Federal Reserve is trying to accomplish.

Alton Single-Family 1/1/2022-3/31/2022 (There were no condo sales.)

• 18 listings sold. Median price was $531,000. The total sales volume was $16,073,607. The highest sale price was $4,000,000 and the lowest sales price was $287,000. Median days on the market was 12.

Alton Single-Family 1/1/2021-3/31/2021 (There were no condo sales.)

• 18 listings sold. Median price was $494,000. The total sales volume was $12,196,650. The highest sale price was $1,992,500 and the lowest sales price was $115,000. Median days on the market was 35.

Gilford Single-Family 1/1/2022-3/31/2022

• 18 listings sold. Median price was $487,500. The total sales volume was $12,743,500. The highest sale price was $1,845,000 and the lowest sales price was $238,500. Median days on the market was 10.

Gilford Single-Family 1/1/2021-3/31/2021

• 24 listings sold. Median price was $390,000. The total sales volume was $11,078,400. The highest sale price was $1,050,000 and the lowest sales price was $200,000. Median days on the market was 6.

Gilford Condos 1/1/2022-3/31/2022

• 11 listings sold. Median price was $215,000. The total sales volume was $3,060,448. The highest sale price was $650,000 and the lowest sales price was $105,000. Median days on the market was 7.

Gilford Condos 1/1/2021-3/31/2021

• 15 listings sold. Median price was $118,000. The total sales volume was $2,119,900. The highest sale price was $425,000 and the lowest sales price was $16,000. Median days on the market was 11.

Laconia Single-Family 1/1/2022-3/31/2022

• 44 listings sold. Median price was $347,500. The total sales volume was $19,242,181. The highest sale price was $1,800,000 and the lowest sales price was $114,344. Median days on the market was 7.

Laconia Single-Family 1/1/2021-3/31/2021

• 44 listings sold. Median price was $262,250. The total sales volume was $16,790,914. The highest sale price was $2,295,000 and the lowest sales price was $119,000. Median days on the market was 14.

Laconia Condos 1/1/2022-3/31/2022

• 29 listings sold. Median price was $315,000. The total sales volume was $9,577,800. The highest sale price was $875,000 and the lowest sales price was $130,000. Median days on the market was 6.

Laconia Condos 1/1/2021-3/31/2021

• 33 listings sold. Median price was $238,500. The total sales volume was $8,990,000. The highest sale price was $825,000 and the lowest sales price was $99,900. Median days on the market was 5.

Meredith Single-Family 1/1/2022-3/31/2022

• 14 listings sold. Median price was $990,000. The total sales volume was $17,757,745. The highest sale price was $3,500,000 and the lowest sales price was $420,000. Median days on the market was 7.

Meredith Single-Family 1/1/2021-3/31/2021

• 21 listings sold. Median price was $476,300 The total sales volume was $12,364,050. The highest sale price was $1,290,000 and the lowest sales price was $131,250. Median days on the market was 11.

Meredith Condos 1/1/2022-3/31/2022

• 3 listings sold. Median price was $725,000 The total sales volume was $1,963,000. The highest sale price was $950,000 and the lowest sales price was $288,000. Median days on the market was 10.

Meredith Condos 1/1/2021-3/31/2021

• 2 listings sold. Median price was $365,000. The total sales volume was $730,000. The highest sale price was $489,000 and the lowest sales price was $241,000. Median days on the market was 32.

Center Harbor Single-Family 1/1/2022-3/31/2022 (There were no condo sales.)

• 3 listings sold. Median price was $440,000. The total sales volume was $1,285,000. The highest sale price was $480,000 and the lowest sales price was $365,000. Median days on the market was 14.

Center Harbor Single-Family 1/1/2021-3/31/2021 (There were no condo sales.)

• One single-family home closed during this time period for $3,800,000 and was on the market for 46 days.

Wolfeboro Single-Family 1/1/2022-3/31/2022

• 16 listings sold. Median price was $497,500. The total sales volume was $12,835,900. The highest sale price was $3,005,000 and the lowest sales price was $189,000. Median days on the market was 16.

Wolfeboro Single-Family 1/1/2021-3/31/2021 (There were no condo sales.)

• 18 listings sold. Median price was $412,500. The total sales volume was $8,729,500. The highest sale price was $1,150,000 and the lowest sales price was $160,000. Median days on the market was 12.

Wolfeboro Condos 1/1/2022-3/31/2022

• 3 listings sold. Median price was $375,000. The total sales volume was $1,264,991. The highest sale price was $609,991 and the lowest sales price was $280,000. Median days on the market was 0.

Tuftonboro Single-Family 1/1/2022-3/31/2022 (There were no condo sales.)

• 7 listings sold. Median price was $752,500. The total sales volume was $5,802,165. The highest sale price was $1,650,000 and the lowest sales price was $445,000. Median days on the market was 21.

Tuftonboro Single-Family 1/1/2021-3/31/2021 (There were no condo sales.)

• 11 listings sold. Median price was $429,000. The total sales volume was $9,732,750. The highest sale price was $3,250,000 and the lowest sales price was $250,000. Median days on the market was 17.

Moultonborough Single-Family 1/1/2022-3/31/2022

• 15 listings sold. Median price was $580,000. The total sales volume was $20,864,000. The highest sale price was $7,800,000 and the lowest sales price was $315,000. Median days on the market was 11.

Moultonborough Single-Family 1/1/2021-3/31/2021

• 20 listings sold. Median price was $407,500. The total sales volume was $11,441,900. The highest sale price was $1,650,000 and the lowest sales price was $130,000. Median days on the market was 7.

Moultonborough Condos 1/1/2022-3/31/2022

• 3 listings sold. Median price was $1,129,000. The total sales volume was $2,589,000. The highest sale price was $1,250,000 and the lowest sales price was $210,000. Median days on the market was 129.

Moultonborough Condos 1/1/2021-3/31/2021

• 3 listings sold. Median price was $385,000. The total sales volume was $1,399,000. The highest sale price was $709,000 and the lowest sales price was $305.000. Median days on the market was 358.

•••

This article was written by Frank Roche. Frank is president of Roche Realty Group with offices in Meredith and Laconia, NH, and can be reached at 603-279-7046. Data was pulled from NEREN on 4/8/2022 and is subject to change. Please feel free to visit www.rocherealty.com to learn more about the Lakes Region and its real estate market.