Seven years of Laconia condominium sales show fluctuations

Laconia has seen a major increase in the number of new condominium developments and subdivisions approved. A number of them are well underway with a good number of sales while others have been building out their infrastructure or are still going through approval stages.

There is a lot of proposed activity for a city the size of Laconia, which brings into question what the absorption will be. The Lakes Region’s beauty and its small-town atmosphere are qualities that could be threatened if development is not thoughtfully managed.

I wanted to take a look at the past seven years of sales activities for condominium sales in Laconia. Here’s what I came up with:

2019: 162 sales with a median sales price of $181,750, average price of $220,065, highest price of $1.06 million and lowest price of $27,000. There was a median of 17 days on the market and total sales volume of $37.27 million.

2020: 187 sales with a median sales price of $236,000, average price of $273,410, highest price of $867,900 and lowest price of $74,000. There was a median of 11 days on the market and total sales volume of $51.13 million.

2021: 187 sales with a median sales price of $251,000, average price of $303,674, highest price of $1.1 million and lowest price of $67,000. There was a median of six days on the market and total sales volume of $56.78 million.

2022: 172 sales with a median sales price of $340,000, average price of $446,594, highest price of $1.4 million and lowest price of $22,000. There was a median of seven days on the market and total sales volume of $76.81 million.

2023: 163 sales with a median sales price of $450,000, average price of $514,637, highest price of $1.45 million and lowest price of $20,000. There was a median of 14 days on the market and total sales volume of $83.88 million.

2024: 160 sales with a median sales price of $425,000, average price of $498,470, highest price of $1.48 million and lowest price of $77,750. There was a median of 22 days on the market and total sales volume of $79.75 million.

2025: 133 sales with a median sales price of $409,900, average price of $484,741, highest price of $2.05 million and lowest price of $125,000. There was a median of 23 days on the market and total sales volume of $64.47 million.

Under Contract/Pending as of Dec. 11: 17 condos are under agreement with a median listing price of $829,000, average listing price of $754,247, highest price of $1.49 million and lowest price of $255,000. The total listed volume under agreement is $12.82 million.

For Sale: 45 condos are for sale with a median listing price of $537,450, average listing price of $595,490, highest price of $2 million and lowest price $1,999 (which is a time-share), and total listed volume for sale of $25.01 million.

Note: the number of condos presently offered for sale is understated because there are many new projects underway that have not published all or any of it in inventory for sale in MLS and there is considerable more inventory.

You can see, the higher number of sales achieved was in 2020 and 2021, a tie at 187 sales (during the COVID years).

The highest sales volume achieved was in 2023, with $83.88 million in sales.

In 2019, the median sales price was $181,750; however, by 2023 the median sales price had jumped to $450,000. Fast forward to 2025 year to date, the median sales price dropped to $409,900. However, when you look at the 17 condos under agreement at the present time, the median list price is $829,900, reflecting some of the newer, higher-priced developments. The 45 active condos for sale show a more realistic median price at $537,450.

Median days on the market were the lowest in 2021 and 2022 at six days and seven days. Days on the market have increased to 22 and 23 days during 2024 and 2025.

Looking at the seven-year average of condominium sales in Laconia, we see roughly 169 unit sales per year. During this period, interest rates were generally favorable, and prices in the earlier years were lower. We also observed a market surge during the COVID-19 pandemic, as out-of-state buyers sought more space outside crowded urban areas.

Currently, there are 15 new development projects either under construction or in the approval process in Laconia, representing close to 840 new housing units. Additionally, the proposed plan for the former State School property is estimating up to 2,050 housing units. Taken together, this could bring the total potential new housing units in the city to nearly 2,890.

Published estimates suggest a build-out for the State School project could occur over 3.5 to 15 years, depending on the source which seems a bit robust. The mixed-use development includes 375,000 square feet of commercial space, a 67,000-square-foot grocery store, a hotel, medical offices, and 25,000 square feet for civic uses, all on a 217-acre site — a notably ambitious project by local standards.

When considering these additions alongside existing condominium inventory, the potential increase is significant. By comparison, over a similar multi-decade period, Roche Realty Group marketed South Down Shores and Long Bay, which together cover roughly 360 acres and nearly a mile of Lake Winnipesaukee shoreline. It took close to 30 years to sell approximately 640 properties — plus resales.

As Laconia sees higher-density developments proposed and approved, it raises a practical question: What might the absorption look like over the coming years? How will these new units integrate with existing neighborhoods, amenities, and will green spaces be preserved? Growth is inevitable, and the market will respond over time, but monitoring absorption rates and the pace of development is essential for informed planning.

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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.