Winnipesaukee and Winnisquam 3rd Quarter Waterfront Sales Report --Lakes Region of NH
It is great to report that the waterfront sales on Lake Winnipesaukee and Lake Winnisquam seem to have held their own over the summer season despite a downturned economy and general reluctance on the part of everyone to buy just about anything. Astute buyers still recognize that waterfront properties are a great place to invest their money. Unlike the stock market and other investment opportunities, buying a waterfront is a tangible, secure investment right now and is something that can really be enjoyed.
In the 3rd quarter of 2009 there were 26 sales on Winnipesaukee (including island properties) at an average price of $1,076,621. There were 7 homes sold at over $1 million with the highest sale being the property at 55 Broadview Terrace in Gilford that changed hands for a mere $6.5 million. This is a 11,464 square foot, 6 bedroom, 8 bath home constructed in 2005 sitting on a 1.59 acre lot with 270 feet of frontage. Obviously, this is a fantastic home with all the amenities and quality one would expect at that price.
Year to date, there have been 55 waterfront transactions on the big lake at an average price of $960,961 with a total sales volume of $52.85 million. That represents about 40% of the total sales volume for all the residential properties in the towns that share the waterfront on Winnipesaukee. So how does that compare to last year? In 2008 there were 53 waterfront transactions over the same time period with an average price of $1,314,639 and a total sales volume of $69.68 million. That sales volume represented about 39% of the total sales volume for the same period last year. Pretty consistent.
Sales on Lake Winnisquam got off to a real slow start in the first six months of the year with only 2 sales. However, in the 3rd quarter there were 9 transactions at an average of $529,667 and a total volume of almost $4.8 million. The highest sale was at 87 Collins Brook Rd in Meredith at $740,000 for a 4,572 square foot, 14 room, 6 bedroom home, with 170 feet of frontage. The 11 transactions year to date on Lake Winnisquam came in at an average price of $495,409. That average is down from the $620,250 average posted in 2008 but the total sales are up from 8 sales in the first three quarters of 2008.
As with the residential market in general, the average prices on waterfront properties are down a bit signaling that there are some good deals out there for those buyers looking for their slice of the Lakes Region waterfront pie. Currently there are 27 properties available on Winnisquam ranging from $275,000 to just under $2 mil. On Winnipesaukee there are over 130 properties available where you can spend as little as $200,000 for an island property and just under $400,000 for a mainland direct waterfront access. So if you are looking for a waterfront retreat now is the time. I'd be happy to help, especially if you want to match that $6.5 million sale last month!
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