Why have Lakes Region waterfront sales prices increased?

Below you will find data and insight into what’s happening in sales activity on 6 of our lakes here in New Hampshire’s Lakes Region. I’ve compared the first six months ending on 6/30/2022 to the six-month period ending on 6/30/2021. The comparisons are pretty self-explanatory.

Lakes Region waterfront sales activity:

Lake Winnipesaukee (44,586 acres)

2021: 52 sales, median days on the market 16, median sales price $1,625,000, Lowest $400,000, highest $6,400,000, total $97,041,500.

2022: 37 sales, median days on the market 6, median sales price $2,020,000, Lowest $518,000, highest $8,100,000, total $93,893,500.

As of 07/06/2022, there are only 30 Lake Winnipesaukee waterfront homes for sale at a median listing price of $1,697,000, 37 median days on the market.

Squam Lake (6,765 acres)

2021: two sales, median days on the market 213, median sales price $2,075,000, Lowest $1,850,000, highest $2,300,000, total $4,150,000.

2022: one sale that had an asking price of $3,200,000 and sold for $3,000,000 in 95 days.

As of 07/06/2022, there are no Squam Lake listings for sale.

Lake Winnisquam (4,214 acres)

2021: seven sales, median days on the market 4, median sales price $1,161,000, Lowest $145,000, highest $2,718,304, total $8,244,304.

2022: nine sales, median days on the market 8, median sales price $1,295,000, Lowest $586,000, highest $2,216,500, total $12,002,500.

As of 07/06/2022, there are only five Lake Winnisquam waterfront listings for sale at a median listing price of $1,299,999, 28 median days on the market.

Newfound Lake (4,106 acres)

2021: five sales, median days on the market 10, median sales price $1,150,000, Lowest $700,000, highest $1,280,000, total $5,210,000.

2022: three sales, median days on the market 14, median sales price $1,300,000, Lowest $430,000, highest $1,300,000, total $3,030,000.

As of 07/06/2022, there are only two Newfound Lake listings for sale at a median listing price of $1,529,500, 13 median days on the market.

Merrymeeting Lake (1,111 acres)

2021: four sales, median days on the market 3, median sales price $851,000, Lowest $510,000, highest $1,475,000, total $3,687,000.

2022: three sales, median days on the market 6, median sales price $1,150,000, Lowest $952,000, highest $1,250,000, total $3,352,000.

As of 07/06/2022, there is only one Merrymeeting Lake listings for sale at $709,000.

Lake Waukewan (912 acres)

2021: two sales, median days on the market 25, median sales price $1,087,500, Lowest $1,000,000, highest $1,175,000, total $2,175,000.

2022: three sales, median days on the market 14, median sales price $1,400,000, Lowest $880,000, highest $1,610,000, total $3,890,000.

As of 07/06/2022, there are only two Lake Waukewan waterfront homes for sale at a median listing price of $832,000, 60 median days on the market.

• When you compare the activity on Winnipesaukee of 37 sales for six months in 2022 to 134 sales in 2021 for 12 months and 173 sales in 2020 for 12 months, we’ve got a lot of catching up to do in the next six months. The obvious reason is the lack of inventory. For example, on 2/11/2022, there were only 11 Lake Winnipesaukee homes for sale at a median listing price of $3,900,000, whereas things are looking up today with more inventory slowly coming on the market. There are now 30 waterfront listings on the “Big Lake” at a median listing price of $1,697,000, including quite a few island properties.

• In summary, there’s a very strong demand for all waterfront properties in the Lakes Region. Hopefully, over the summer months, inventory will loosen up a bit. Winnipesaukee is beginning to show signs of glimmer that more product is on the way.

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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 7/06/2022 at 9:00 AM EST 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.