My personal impressions aside, the number of Moultonborough Lake Winnipesaukee waterfront home sales is down so far for the year 2008 compared to 2007. The average selling price of Moultonbrough Lake winnipesaukee waterfront home sales, however, is up....significantly.
The average Moultonborough Lake Winnipesaukee waterfront home sale was only $960,152 in 2007, which increased to $1,272,918 in 2008*.
(*Based on statistics from the Northern New England Real Estate Network for the time period January 1, 2007-August 27, 2007 compared to January 1, 2008-August 27, 2008. This includes Lake Winnipesaukee owned waterfront home sales only, not condos, land, or water access properties.)
This trend for higher selling prices, but with fewer sales has been a trend since the beginning of 2008. (Please note that my blog entry "Moultonborough NH Lake Winnipesaukee waterfront home sales statistics for January 1st-February 18th 2007 vs. this same period in 2008" notes that the average selling price for January 1 2008-Feberuary 18, 2008 was $2,000,000 on the lake versus $$1,022,400 for this same time period in 2007.
My personal impression is that activity on the high Moultonbrough Lake Winnipesaukee real estate market has increaseed significantly in recent weeks. Our office has had many more waterfront customers coming though through our doors...and through the doors of our many Moultonborough Lake Winnipesaukee waterfront real estate listings. The Moultonborough Lake Winnipesaukee homes for sale, which are seeing this surge of activity will likely see offers brought to their Sellers in the upcoming weeks.
It is anybody's guess how many Moultonborough Lake Winnipesaukee properties will go "under contract." My personal experience is that the nicest properties are the ones that always hold their value or apprciate. No matter how cheaply an inferior property is purchased for, it will never attract the number of potential buyers that the superior Moultonborough Lake Winnipesaukee properties attract.
Moultonborough Lake Winnipesaukee land values are not depreciating. The "deflation" that has occurred will be the extent of the deflation. The best land parcels are more scarce than ever and the new changes to the Shoreline Protection Act as of July 1, 2008 will further restrict what can be done to lakefront property. Moultonborugh Lake Winnipesaukee new construction therefore, which had foundations in prior to July 1, 2008, made full use of the more relaxed laws, and will be more valuable to buyers. Buyers usually do not look kindly on having more restrictions placed on a proeprty for which they are paying millions of dollars.)
To sum up, Moultonborough lakefront property which appraises at $1,000,000 or more currently, will hold its value or appreciate in the coming months. What is your opinion?