The Number of Closed Winnipesaukee Transactions is Down, but the Average Selling Price is Up.
9 Winnipesaukee homes with owned waterfront have sold so far this year compared to twenty Winnipesaukee homes with owned waterfront having been sold in this same time period last year. In other words, there were 9 NH waterfront Winnipesaukee residential sales in the time period January 1, 2013 - March 24, 2013 versus 20 NH waterfront Winnipesaukee residential sales in the time period January 1, 2012 - March 24, 2012 .
While the number of sales is less than half, the average selling price of NH waterfront homes on Winnipesaukee has gone up significantly this year. The average selling price is $914,278 as of March 24, 2013 as compared to only $800,525 on March 24, 2012. The median selling price for these NH waterfront homes on Winnipesaukee as of March 24, 2013 is $678,500 as compared to a slightly lower median selling price for NH Winnipesaukee waterfront homes of $640,000 as of March 24, 2012.
More Winnipesaukee Homes Listed at $1,000,000 or More are Under Contract in 2013.
One of the most notable changes in the dynamics of the Lake Winnipesaukee real estate market this year is the shift in the price point of many of the contingent and pending Winnipesaukee sales. The shift is so dramatic that March 2013 compared to March 2012 may be a very good indicator for the rest of the year on Winnipesaukee. It certainly appears at the moment that the average selling price on Winnipesaukee by the end of 2013 will be considerably higher than in 2012.
As of March 24th of 2012, only 1 Winnipesaukee home with owned waterfront sold for between $1,000,000 and $1,799,999 so far that year. By the end of August 2012, only4 Winnipesaukee homes with owned waterfront had sold in this $1,000,000 - $1,799,999 price range.
As of March 24, 2013, by comparison, there are 6 Winnipesaukee waterfront homes with owned waterfront under contract with buyers in the $1,000,000 - $1,799,999 price range. Even if no other Winnipesaukee homes in this price range goes under contract between now and August 2013, by the end of August 2013, we will be well ahead of the number of sales in this price range as compared to 2012.
(If you'd like detailed information on these contingent and pending properties or a comparison of the past 10 years sales, year to date, please feel free to contact me.)
Breakdown of the 9 Winnipesaukee Homes Sold so Far in 2013, Assessed Versus Selling Prices.
The 4 least expensive homes that have sold so far in 2012, all of which were priced under $1,000,000, had town assessed values that were higher than the listing prices in MLS. 3 of these lowest selling homes also had less than 100 feet of Winnipesaukee waterfront. The 4 higher priced home sales, had town assessments that were lower than the listing prices. 3 of these higher priced home sales also had in common that they had at least 135 feet of waterfront, except for 134 Black Point in Alton, which, though it had only 90 feet of waterfront, did have a nearly 5000 square foot, 2010 built home and a large 1.3 acre lot. (Please fee free to contact me for a list of these properties and their assessed values and selling prices). 134 Black Point Road, Alton, the 4th of these higher priced homes, and the only home that closed above $1,000,000 and below $2,000,000, sold for approximatley $120,000 above the assessed value.
What seems to be happening on Winnipesaukee? Can we use few sales to try to predict a trend?
Of course trends based on a few sales can be reverse within weeks. However, it may be that there is a trend for properties with less than 100 feet of waterfront and with town assessments under $1,000,000 that is opposite of the trend for newer Winnipesaukee homes with 100 or more feet of waterfront. Properties in the latter category may be holding their value or going up slightly in value. It is ealy in the year, but we can certainly track this to see if this trend continues.
The 9th Winnipesaukee home that sold this year, 34 Boathouse Road, sold at $2,350,000, but as the town assessment does not yet reflect the value of the finished home, we can't yet compare the assessed value to the selling price or listing price of this home.
Please email me or call me with any questions on these sales or to request other Lakes Region real estate market information. You can also use my website to view all current Winnipesaukee real estate, search by lake or town, or search MLS.