There are 25 towns and cities comprising the Lakes Region. This week I thought I would highlight two desirable and similar communities, Gilford and Meredith.
Gilford, New Hampshire
Gilford includes 38.85 miles of land area and 14.7 miles of inland water area. The population includes 7,699 residents resulting in a density of 186.5 persons per square mile. The population ranks 41st in New Hampshire out of 239 cities and towns. The median age is 47.8 years young. 42% of the population has a bachelor’s degree or higher. The median household income is $84,192. Gilford has 5,178 housing units. The town offers an abundance of recreational and cultural resources. Gunstock Ski Area, The Belknap recreation Area, Gilford Town beach & town docks, multiple marinas & yacht clubs with Lake Winnipesaukee in your backyard, an 18 hole golf course, Ellacoya State Park, Bank of New Hampshire Pavillion, hiking trails, an excellent school system, and historic village district, lots of shopping with big box stores, and fine restaurants.
Tax Rate – Gilford
- Gilford’s 2021 property tax rate was recently set at $12.28 per $1,000 of assessed valuation, which represents a decrease of 3% from 2020’s rate of $15.03. The towns total valuation increased $434,078,052 or 20.2% from $2,149,486,818 to $2,583,564,870 due to a town-wide statistical update! That’s a huge increase for one year resulting in a huge decrease in the tax rate.
Three-year comparison of single-family home sales activity – Gilford
12/8/18-12/8/19
153 single-family homes sales, 37 median days on the market, the median sales price was $314,900, the highest sales price was $3,900,000, lowest $71,000, the total sales volume of single-family $63,851,353, 17 of the 153 sales were waterfront homes.
12/8/19-12/8/20
168 single-family homes sales, 14 median days on the market, the median sales price was $387,000 (a 22.9% increase over the previous year), the highest sales price was $4,900,000, lowest $41,000, the total sales volume of single-family $111,954,199, 30 of the 168 sales were waterfront homes.
12/8/20-12/8/21
161 single-family homes sales, 7 median days on the market, the median sales price was $450,500 (a 16.3% increase over the previous year), the highest sales price was $6,000,000, lowest $198,900, the total sales volume of single-family $110,974,094, 13 of the 161 sales were waterfront homes.
Gilford pending single-family home sales as of 12/8/2021
17 pending (under agreement) sales, 11 median days on the market, the median listing price of $520,000, the highest listing price $1,795,000, the lowest $129,900, 2 of the 17 pending sales are waterfront homes.
Gilford single-family homes for sale (active) as of 12/8/2021
Only 9 single-family homes are for sale, median days on the market 27, the median listing price of $1,600,000, the highest listing price $10,000,000, the lowest $334,900, 4 of the 9 listed homes are waterfront. The low inventory level and higher concentration of waterfront homes account for the huge increase in the median listing price at $1,600,000. Gilford definitely needs more available inventory. There is a huge demand out there, and with only 5 non-waterfront homes for sale, the pickings are slim right now.
Meredith, New Hampshire
Meredith includes 40.3 square miles of land area and 14.2 miles of inland water area. The population includes 6,662 residents resulting in a density of 160.1 persons per square mile. The population ranks 50th in New Hampshire out of 239 cities and towns. The median age is 50.6 years young. 43.8% of the population has a bachelor’s degree or higher. The median household income is $64,023. Meredith has 4,972 housing units. The town offers an abundance of recreational and cultural resources. The Meredith town beach, Town Docks, waterfront sculpture walk, multiple marinas & yacht clubs, an 18 hole & 9 hole golf course, hiking trails, an excellent school system, the Winnipesaukee Scenic Railroad, the Inns & Spa at Mills Falls, Lake Winnipesaukee & Lake Waukewan in your backyard, the Ice Fishing Derby, Pond Hockey Competition, The Winnipesaukee Playhouse, and the Interlakes Summer Theater. Plus many shops and fine restaurants in the scenic resort village.
Tax Rate – Meredith
Meredith’s 2021 property tax rate was recently set at $13.43 per $1,000 of assessed valuation, which represents a decrease of 4.2% from the 2020 rate of $14.02. The towns total valuation increased $27,730,477 or 1.2% from $2,302,685,480 to $2,330,415,957. I cannot understand why there is such a disparity between the increase in valuation in Gilford vs. Meredith because of the similarity between the two towns. Both experienced the same real estate market, and the increase in valuations should correlate closer.
Three-year comparison of single-family home sales activity – Meredith
12/8/18-12/8/19
143 single-family homes sales, 25 median days on the market, the median sales price was $375,000, the highest sales price was $4,031,250, lowest $65,000, the total sales volume of single-family $85,483,100, 37 of the 141 sales were waterfront homes.
12/8/19-12/8/20
157 single-family homes sales, 13 median days on the market, the median sales price was $485,000 (a 29.3% increase over the previous year), the highest sales price was $4,900,000, lowest $58,000, the total sales volume of single-family $113,618,842, 44 of the 157 sales were waterfront homes.
12/8/20-12/8/21
118 single-family homes sales, 10 median days on the market, the median sales price was $567,500 (a 17% increase over the previous year), the highest sales price was $8,500,000, lowest $89,000, the total sales volume of single-family $100,489,670, 34 of the 118 sales were waterfront homes.
Meredith pending single-family home sales as of 12/8/2021
26 pending (under agreement) sales, 17 median days on the market, the median listing price of $540,000, the highest listing price $2,850,000, the lowest $229,900, 5 of the 26 pending sales are waterfront homes.
Meredith single-family homes for sale (active) as of 12/8/2021
Only 9 single-family homes are for sale (the same as Gilford), median days on the market 62, the median listing price is $439,000, the highest listing price $1,250,000, the lowest $69,900, 0 of the 9 listed homes are waterfront.
You can see from the above that both Gilford and Meredith need a lot more available inventory as we approach 2022. We all know the demand is overwhelming. With a strong market out there, you would think more sellers would want to participate and put some product on the market.
This article was written by Frank Roche. Frank is president of Roche Realty Group with offices in Meredith and Laconia, NH, and can be reached at (603) 279-7046. Town data was compiled by a NEREN search on 12/08/2021 at 11:00 am EST and is subject to change. Please feel free to visit www.rocherealty.com to learn more about the Lakes Region and its real estate market.
