On the waterfront…   We are halfway through the year and it seems appropriate to take a look and see how waterfront properties on the four major lakes in the Lakes Region are selling. Waterfront sales are a huge part of our total real estate market.  It is pretty clear to see from the following charts that most waterfront sales occur in the second half of the year, but it is worth a look to see how the first half sales stack up against prior years. All  the numbers in the chart are derived from sales occurring between Jan. 1 and June 30 of each year. These sales also include island properties.
 
Sales on Lake Winnipesaukee are off to a slower start than the past three years. We are down about 35% from last year but show an increase of $286,779 in the average sale price. Twenty of the thirty three sales were over $1 million. Eight of those million dollar plus sales were in Moultonborough. Gilford, Meredith, and Alton each posted three sales, and Laconia, Meredith, and Wolfeboro had one sale each.
 
Winnisquam, Squam, and Newfound lakes don’t have the sales volume of Winnipesaukee. After all, Winnipesaukee is a much larger lake bordering eight communities.  Winnisquam is the more affordable of the four lakes listed and posted four sales with a slightly lower average sales price than last year. Squam Lake had the highest average sales price of the four lakes in 2007 and posted two sales so far this year but dropped $400,000 in the average sales price. Newfound has had only one sale so far at an entry level price of $330,000.  With far fewer sales on these three lakes, lower average sales numbers don’t necessarily point to lower overall waterfront prices. They more likely reflect the lower values of the particular properties that sold. In any event, waterfront sales are a good indicator of how well the Lakes Region economy is doing overall, so let’s hope for a strong second half of the year.

Winnipesaukee Sale Jan - June 2008

Winnisquam Sales Jan - June 2008

Squam Sales Jan - June 2008

Newfound Sales Jan-June 2008

Sales were down in December which is to be somewhat expected as we head into the slower winter months. We expect to see the serious waterfront buyers returning after the holidays to check out the inventory of homes on the big lake so that they can be into their new home by the time spring rolls around. If you are looking for a detailed report that will help you identify the good buys on Lake Winnipesaukee, don’t hesitate to contact me.

Click on this link to view report:

december-2007-lake-winnipesaukee-sales.doc

Here’s a report of all the sales on the Big Lake in November of 2007. Who says you can’t sell a waterfront when it is cold outside??

Click on this link to view report:

nov-2007-winnipesaukee-sales.doc