Well the first week of June didn't break any records for numbers of transactions but it speaks clearly of the kind of activity we are seeing around the lake this Spring and Summer. There were (4) four transactions that closed that were properties that had owned shorefrontage on the lake and only (1) that was a shared access property.
137 Pinnacle Park, Meredith
This beautiful adirondack with a .66 acre parcel of land and 150 feet of frontage in Meredith closed after 18 days on the market. Asking price was $1,295,000.00 and it closed at $1,190,000.00 for an 92% List to Sale price ratio. Not bad. It is assessed at $1,141,000.00 so the Sale Price to Assessed Value was at 84%. This sale was done with conventional financing.
62 Rollins Road, Alton
This classic lakefront cottage actually had three lots of record for a total of 6.57 acres with 392 feet of shore frontage. It was on the market for a total of 137 days before going under contract. Asking price was $1,499,000.00 and it sold for $1,325,000.00 giving it an 88% List to Sale Price ratio. Assessment came in at a healthy $1,574,300.00 so the Sale Price to Assessed Value also comes it at 84%. Do I see a trend forming? This transaction was a cash sale.
272 Meredith Neck Road
I would say the Best Bang for the Buck award goes to this property in Meredith. With 23 acres of land and 170 feet of shore frontage this energy efficient house sold after 96 days on the market. Asking Price was $1,650,000.00 and it sold for $1,475,000.00 or an 89% List to Sale Price Ratio. It was actually assessed for $862,197.00 which brings the Sale Price to Assessed Value Ratio up to 117%. So much for my forming trends. This transaction was also a cash sale.
56 Kona Bay Road
Last, but certainly not least was this beautiful property in Moultonborough on .89 acres with 200 feet of frontage. This was a brand new home that was just sold prior to completion. Asking Price was a healthy $1,999,999.00 and it closed at $1,720,000.00 for an 86% List to Sale Price Ratio. This home was on the market for only 8 days prior to going under contract. The Assessed Value was $1,263,000.00 so it came in at a strong 136% Sale Price to Assessed Value ratio. This transaction was a cash sale.
4 Casanna Street
On the other side of the spectrum, we had only (1) property that was a shared access property to Lake Winnipesaukee that closed. This home in Moultonborough is located in the Suissevale development and was listed for a very attractive price of $94,500.00. It sold after being on the market for only 30 days. Sale Price was $100,000.00 for a LP/SP ratio of 111%. The Assessed Value is $172,700.00. This gives us a Sale Price to Assessed Value of only 58%. That seems like a great value to me. This transaction closed with conventional financing.
Well, there you have it. Lake Winnipesaukee real estate transactions for the first week of June, 2011.
If you would like to know more about real estate that is available on or around Lake Winnipesaukee, please feel free to contact me directly anytime at 603-707-9194 or send me an email at LakesRegionRealtor@gmail.com and be sure to check out my website www.DanLittlefield.com for all of the available properties in the area.
Coldwell Banker Residential Brokerage
32 Whittier Highway, Rt. 25
Center Harbor, New Hampshire 03226