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Lake Winnipesaukee, Winnisquam, & Squam Waterfront Sales Report - August 2012

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Posted 09-30-2012 at 04:56 PM by Roy Sanborn

There were 12 waterfront sales on Lake Winnipesaukee in the month of August at an average price of $1.18 million. That compares to eighteen sales at an average of $827,589 in August 2011 and 14 sales at $1.1 million in 2010. The average sales price so far this year on the big lake is $956,021 compared to $1.074 million last year. There have been 80 sales so far this year compared to 69 for the same period last year. So lakefront property is moving well but at a lower price.

The least expensive property sold on Winnipesaukee in August was an at 316 Bear Island in Meredith. This two bedroom seasonal cottage has the typical knotty pine interior, updated kitchen and baths, a fireplace, screened porch, and a new septic system. The cottage sits on a .8 acre lot with 100 feet of frontage and deep-water docking. This property was originally listed in June of 2011 at $449,900, re-listed June of this year at $347,900, and sold for $330,000 in just 3 days. It’s amazing what a difference a $100,000 price reduction and a year make. The property is currently assessed at $341,500. I bet the new owner was happily paddling around out there this summer…

The sale closest to the median price of $710,000 for August was at 124 Rogers Road in Alton. This open concept home was built in 1990 and has 3,456 feet of living space, three bedrooms, three baths, hardwood floors throughout, natural woodwork, woodstove, hearth, a new roof and furnace, lots of windows, and a great deck. The house sits on a level .43 acre lot with long views, privacy, dock, and 100 feet of frontage. This property was listed at $949,000 and was only on the market for 30 days before going under contract at $870,000. It is currently assessed at $739,400.

The highest sale of the month was at 440 Edgewater Drive in Gilford on Governor’s Island. This magnificent Craftsman style home has a touch of Adirondack flair with six over one pane windows, custom built-ins, and coffered and wood ceilings. Built in 2007, this fine home has 6,575 square feet of space, five bedrooms including a main level master suite and two en-suites upstairs, six baths, a country kitchen, private media room, four sided fireplace, library, private office, and two family rooms. There are multiple decks and patios outside from which to enjoy the views. The 1 acre lot has expansive lawns, 188 feet of frontage, a sandy beach, docks, and a jetty. This property was listed at $4.395 million and sold for $3.5 million after 241 days on the market. It is currently assessed at $2.33 million.

There were two sales on Winnisquam in August. A small 40’s vintage , two bedroom, year round cottage at 66 Dr. True Road in Sanbornton on a third acre lot with 100 feet of frontage was listed at $419,000 and sold for $405,000 in 94 days. It is assessed at $402,600. The other sale was at 96 Swain Road in Meredith in the Waldron Bay community. This 2,856 square foot, three bedroom, three bath home has a well appointed kitchen and separate dining room with fireplace. The living room also has a fireplace, cathedral ceilings, and a wall of windows through which to enjoy the wonderful views. There’s also a finished family room in the walk out lower level with a nice patio just outside. The home sits on a .85 acre lot with 160 feet of frontage with a dock. The owner has use of the Waldron Bay clubhouse, tennis courts, and one of the best beaches on Winnisquam. Nice! This home was listed in 2011 at $860,000, re-listed this year at $799,000, and sold for $745,000 which was over the assessed value of $643,300.

A home at 35 Pine Lane in Holderness was the only sale on Squam last month. This seasonal, 50’s vintage, waterfront cottage has 1,468 square feet of space, four bedrooms, two baths, a knotty pine interior, and a living room with a wood stove to complete that Squammie feel. There’s a great deck and a screened porch with views in all directions. The third acre lot has 95 feet of frontage. This home was listed in 2010 for $299,000, bumped way up to $575,000 in 2011, listed again in 2012 at $525,000, and sold for $480,000. It was on the market a total of 373 days. Kind of makes you wonder what was going on with the pricing doesn't it?

Waterfront and vacations homes sales continue to keep the Lakes Region real estate market afloat and their owners contribute immensely to keep the local economy going. I am not sure what things would be like around here economically if we didn’t have these beautiful bodies of water and the amazing scenery we have, but it wouldn’t be good. Maybe we need to dig a few more lakes?

Data was compiled as of 9/12/12 using the Northern New England Real Estate MLS System.

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