As we head into September, I have compiled data and insight into what is happening in sales activity on 8 of our lakes here in New Hampshire’s Lakes Region. I have compared the first eight months of 2023 to the first eight months of 2022. These figures include mainland waterfront as well as island properties.
Lake Winnipesaukee (44,586 acres)
2022: 56 sales, median days on the market 7, median sales price $1,697,500, lowest $415,000, highest $8,100,000, total $120,127,300.
2023: 58 sales, median days on the market 11, median sales price $2,492,500, lowest $510,000, highest $14,000,000, total $184,052,867.
As of 09/06/2023, there are only 30 Lake Winnipesaukee waterfront homes for sale at a median listing price of $3,785,000, 50 median days on the market.
2022: 1 sale, days on the market 95, sales price $3,000,000
2023: 2 sales, median days on the market 0, median sales price $6,197,500, lowest $5,395,000, highest $7,000,000, total $12,395,000
As of 09/06/2023, there are 2 Squam Lake waterfront homes for sale at a median list price of $7,425,000, 70 days on the market.
2022: 11 sales, median days on the market 7, median sales price $1,560,000, lowest $925,000, highest $3,500,000, total $18,896,500.
2023: 7 sales, median days on the market 29, median sales price $1,750,000, lowest $964,000, highest $2,485,000, total $11,949,000.
As of 09/06/2023, there are only 9 Lake Winnisquam waterfront homes for sale at a median listing price of $1,699,000, 98 median days on the market.
2022: 4 sales, median days on the market 22, median sales price $1,300,000, lowest $1,000,000, highest $1,425,000, total $5,025,000.
2023: 8 sales, median days on the market 12, median sales price $1,737,500, lowest $1,000,000, highest $28,820,000, total $21,345,000.
As of 09/06/2023, there are only 4 Newfound Lake waterfront homes for sale at a median listing price of $2,250,000, 63 median days on the market.
Merrymeeting Lake (1,111 acres)
2022: 5 sales, median days on the market 12, median sales price $1,150,000, lowest $950,000, highest $1,300,000, total $5,602,000.
2023: 3 sales, median days on the market 8, median sales price $1,655,000, lowest $435,000, highest $2,300,000, total $4,390,000.
As of 09/06/2023, there are 2 Merrymeeting Lake waterfront homes for sale at a median listing price of $1,049,000, 51 median days on the market.
2022: 3 sales, median days on the market 14, median sales price $1,400,000, lowest $880,000, highest $1,610,000, total $3,890,000.
2023: 1 sale, days on the market 3, sales price $425,000
As of 09/06/2023, there is only one Lake Waukewan waterfront home for sale at a list price of $1,595,000, 14 days on the market.
2022: 4 sales, median days on the market 8, median sales price $797,500, lowest $689,000, highest $1,295,000, total $3,579,000.
2023: 3 sales, median days on the market 8, median sales price $911,500, lowest $700,000, highest $915,000, total $2,526,500.
As of 09/06/2023, there is only one Lake Kanasatka waterfront home for sale at a list price of $545,000, 22 days on the market.
There were no sales in 2022.
2023: 1 sale, days on the market 27, sales price $775,000
There are currently no active listings.
The comparisons I have shown above are self-explanatory, and you can see the trends that are occurring. On Lake Winnipesaukee, the total sales volume increased by $63,925,567 or 53.2%, a huge increase fueled by the median sales price jumping to $2,492,500, resulting in a 46.8% increase in the median sales price. This sharp increase was attributed to three very high-end sales. The first one was in Alton for $13,999,000, the second was in Meredith for $14,000,000, and the third was in Wolfeboro for $12,169,077. Today’s median listing price on Winnipesaukee is $3,785,000, with 30 properties available for sale. On Squam Lake, there were only two sales this year to date, and the median price was $6,197,500! On Winnisquam, Newfound, Kanasatka, and Opechee, the median sales price took a big leap forward as well. When you go back just 10 years, who would have thought we would be seeing these skyrocketing price increases for waterfront property? It all goes back to Mark Twain’s famous phrase, “Buy land, they’re not making it anymore.” If he were still alive today, he might have modified his phrase to “Buy waterfront property; they’re not making it anymore.”
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. Data was compiled by a NEREN search on 09/06/2023 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
