Increasing inventory, prices in Lakes Region real estate market

We’re almost halfway through September, and a friend of mine indicated the leaves are already starting to turn up north. Looks like we have two months left for our fall selling season before the holidays begin.

I thought I would research what inventory is available for sale in the Lakes Region, to give you an idea on what is for sale. 

Personally, I’m finding more inventory, more price reductions, and longer days on the market. We are seeing the market drop from its record highs to a more manageable pace. However, Realtors I talk to indicate it’s a difficult market, hard to predict. Many properties are selling at close to the asking price if they are priced well. However, many properties are overpriced, and we are seeing longer days on the market with major price reductions. 

Let’s take a look at what is currently available for sale in several of our communities. 

Single-family homes

Laconia has 56 homes for sale with a median list price of $724,949 and average list price of $1.05 million. There’s been a median 43 days on the market and total list volume $50.95 million. 

Gilford has 37 homes for sale with a median list price of $1.07 million and average list price $1.62 million. There’s been a median 50 days on the market and total list volume $59.97 million.

Meredith has 47 homes for sale with a median list price of $950,000 and average list price $1.74 million. There’s been a median 79 days on the market and total list volume $82.01 million.

Center Harbor has four homes for sale with a median list price of $845,000 and average list price $2.57 million. There’s been a median 42 days on the market and total list volume $10.28 million. 

Wolfeboro has 39 homes for sale with a median list price of $899,000 and average list price $2.06 million. There’s been a median 44 days on the market and total list volume $80.40 million.

Moultonborough has 37 homes for sale with a median list price of $1.39 million and average list price $1.77 million. There’s been a median 48 days on market and total list volume $65.70 million. 

Alton has 43 homes for sale with a median list price of $699,000 and average list price $1.20 million. There’s been a median 53 days on the market and total list volume $51.67 million. 

Northfield has 21 homes for sale with a median list price of $379,000 and average list price of $472,183. There’s been a median 70 days on the market and total list volume $9.19 million. 

Tilton has two homes for sale with a median list price of $469,950 and average list price of $469,950. There’s been a median 26 days on the market and total list volume $939,900.

Gilmanton has 18 homes for sale with a median list price of $594,949 and average list price of $831,394. There’s been a median 47 days on the market and total list volume $14.96 million.

Belmont has 26 homes for sale with a median list price of $693,500 and average list price $1.39 million. There’s been a median 41 days on the market and total list volume $36.31 million. 

There are 48 waterfront homes for sale on Lake Winnipesaukee with a median list price of $3.95 million, average list price of $4.45 million, 89 median days on the market and total list volume of $213.90 million. There are only five properties priced under $2.1 million. 

Laconia has 57 condominiums for sale with a median list price of $589,900, average list price of $684,913, 112 median days on the market and total list volume of $39.04 million.

In addition to the 57 condos currently listed for sale, there are presently 27 condo sales that are shown as active under contract, and there are a number of new developments where all of the units have not been released for sale yet. Many new projects are in early stages of development. 

You can see from the stats above that inventory has been increasing in the Lakes Region; however, the average listing prices have accelerated, and sellers have to be cautious of not over-pricing their properties in a competitive market. 

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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.