2019 Lakes Region New Hampshire market trends continued to highlight traditional "seller's market" conditions, including more demand than available inventory, increased home prices, and less time on market, on average. Buyers continue to be attracted to the Lakes Region of New Hampshire and both ends of the market have benefited from years of demand. Though the challenges of retaining enough affordable real estate in New Hampshire's Lakes Region continue, causing younger residents to leave who wouldn't otherwise, what the region is experiencing is not unique. What is unique is the high quality of life New Hampshire's Lakes Region continues to provide and be known around the world for - lakeside living, walkability to charming towns with wonderful restaurants, shops, recreation, and other amenities, an advantageous tax structure, and convenience to New England's major metropolitan areas.
Many families who vacationed in or owned Lakes Region property in the past continue to look to buy Lake Winnipesaukee real estate or property in the surrounding area for themselves, either as retirement homes, second homes, or investment properties. Because of this, real estate on Lake Winnipesaukee and in the Lakes Region continues to be a safe bet, though working with an experienced agent who can help you be as competitive as possible is more essential than ever.
When looking at specific property types, 2019 saw a continuation of many of the trends we've seen in the past few years. Waterfront property for sale in New Hampshire and in the Lakes Region has continued to sell more quickly than before, resulting in increased prices and making it a great time for anyone to sell. Lakeside towns like Alton, Gilford, Meredith, Moultonborough, and Wolfeboro, remain very popular. Overall, the Lakes Region of New Hampshire has continued to remain both a popular vacation destination and a desirable place to live in New Hampshire.
Below is a collection of data points and real estate trends for New Hampshire's Lakes Region that are useful for both buying and selling a home in the Lakes Region. If you're interested in buying real estate in New Hampshire or learning more about the Lakes Region of New Hampshire, you can also click on the links below to browse available and recently sold Lakes Region real estate.
- View recently listed Lake Winnipesaukee real estate.
- View recently sold Lakes Region real estate.
- Search all Lake Winnipesaukee property for sale.
Contact Nicole Watkins to learn more about Lake Winnipesaukee real estate and the Lakes Region, or if you're interesting in buying or selling a lake home in New Hampshire.
2019 Real Estate Trends
2019 saw a continuation of many of the recent Lakes Region real estate trends, including increasingly limited inventory and demographic changes putting pressure on the New Hampshire real estate market. It was the first year to see a fairly significant increase in units sold, which was good news for buyers, though inventory remains very tight. Trends included:
- Lakes Region sales increased about 5% and the average sales price was 7% greater in 2019 than in 2018.
- Mid-price and luxury home sales increased, while sales of homes under $200,000 continued to decline, both because of increased sales prices and low inventory.
- Laconia, Gilford, Meredith, and Wolfeboro saw the most activity, as was expected given historical performance.
- Moultonborough, Meredith, and Wolfeboro saw the highest average sales price, continuing the trend from prior years.
- In Belknap County, one of the two counties that Lake Winnipesaukee calls home, total units sold increased substantially. According to the New Hampshire Association of Realtors (NHAR), units sold were up 5.7%, which brought total units sold above 2016 levels and almost on par with 2017 levels.
- The median price of homes sold in Belknap County was up 7.6% and average days on market decreased by 4%.
- Carroll County trends were similar to those of Belknap County, with some differences. Total units sold declined a slight 0.4% as opposed to seeing the strong increase Belknap County experienced. The median sales price in Carroll County increased 7.9%, on par with Belknap County, and average days on market decreased 18%, more so than in Belknap County.
- Both county's trends indicate even more pressure on the Lakes Region real estate market, as even the increase in inventory sold is not enough to decrease the overall competitiveness, especially for homes for sale under $400,000 and homes for sale under $750,000, generally considered the line for lower priced and mid-market homes, respectively.
- Overall, real estate in New Hampshire's Lakes Region is continuing to boom and experience high demand across all property types, especially Lakes Region real estate under $750,000 and waterfront homes for sale on Lake Winnipesaukee. Waterfront homes for sale in the greater Lakes Region of New Hampshire have also benefited from the current market conditions as Lake Winnipesaukee real estate continues to be limited. Several factors such as low interest rates, high quality of life, and low gas prices have made the Lakes Region even more appealing to many, from first time buyers to retirees to families and investors looking to buy a second home.