I can remember back in 1976 when I first started in Real Estate in the Lakes Region. In those days, I’d spend a lot of time driving all around the lakes trying to become familiar with the local communities, neighborhoods, waterfront homes, and water access communities. When I was driving along Route 25 in Meredith, I came across a sign for Patrician Shores, it looked interesting, so I drove in through a network of roads that lead to the lake. I was amazed when I saw a long stretch of sand with breathtaking views towards the Ossipee Mountains. At the time, it struck me what a unique private community with such a magical natural beach for all the members to use. Over the years, I’ve referred to Patrician Shores as one of the nicest beaches on Lake Winnipesaukee and we’ve sold many homes within the community.
Today, Patrician Shores consist of approximately 84 homes. There is a nice mix of individual waterfront homes and water access properties. In addition to a gorgeous 400’ long sandy beach with a swim raft, there are 44 boat docks which are licensed to individual Patrician Shores homeowners. I believe the maximum boat length is 24’ with a beam width of 8’. There are also 6 boat moorings and 10 PWC moorings. The amenities also include tennis courts, kayak & canoe racks, and a recreation hall. A community water system feeds the majority of the homes. The town of Meredith maintains all of the roads within Patrician Shores. Many of the homes were built during the 1970s and there’s a wide selection of architectural styles. What’s so nice about this association of homes is its location. It’s only 3 ½ miles to Meredith village and only 1 ½ miles to Center Harbor, so grocery shopping and many fine restaurants are only minutes away. It’s also not far from the Route 104 exit into Meredith.
Patrician Shores is a very fine example of what we call ‘water access communities’ here in the Lakes Region. Like so many others, they enjoy excellent water amenities because the communities were developed in earlier years when there was more available waterfront inventory to develop. We receive so many customers annually who are looking for water access on the many lakes that comprise the Lakes Region. The price point is obviously much lower than waterfront property; however, many buyers are attracted to this desirable second home lifestyle where individual homeowners can meet new friends and their children develop lasting friendships with other children throughout the community. It’s certainly an attribute that the children can have some playmates, especially at the beach.
Like other popular communities, the availability of inventory is very low in recent years. During these difficult times during the COVID, crisis homeowners have been holding on to these treasured properties to escape a much busier life south of New Hampshire.
Here’s a breakdown of sales from 2017-2020
No properties closed during this time.
One closed at 349,900 (1,496 sf, 3 bedrooms with 24’ boat slip included).
One closed for 337,500 (1,848 sf, 4 bedrooms with enclosed porched and no boat slip)
Nothing closed so far in 2020 there is one active under contract for $489,000 (1,496 sf, 3 bedrooms with 24’ boat slip.)
You can see from the above sales and available inventory that there has been a limited supply of homes available at Patrician Shores during the past several years. This is a growing trend that we’ve been seeing in water access communities throughout the Lakes Region. All the realtors in our region are experiencing the difficult lack of inventory and new product coming on the market. When a good listing does pop up, multiple appointments and showings happen instantly and can lead to multiple offers. A Realtor will help guide you through the complicated process of selling your property and achieve the best possible price in a very strong market.
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 compiled by a NEREN map search on 07/30/2020 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.