March 2024
Lake Winnipesaukee Report
The same...
In comparing the real estate inventory from February 2023 to February 2024, we observed a consistent trend: each February saw the introduction of 5 new privately-owned waterfront properties to the market, with 2 properties sold in each period. This resulted in a net increase of 3 listings to the overall inventory for each month at the time.
However, drawing conclusions on the average sales price from just two transactions per month can be challenging. To illustrate, the previous year featured a significant sale of $11.5 million, whereas the highest sale in the last month was substantially lower, at $2,669,000.
This recent sale at 13 Blackey Cove Road in Moultonborough is noteworthy. The property was sold at its full asking price, despite initially falling short on appraisal to another buyer. Fortunately, backup buyers, with cash in hand, were prepared to meet the full asking price. The other transaction last month took place on Castle Shores Road, a property not affiliated with the Suissevale association and previously shared by a family. This particular sale closed $200,000 below the listed price, indicating a readiness to move on from the property.
These transactions highlight the dynamic nature of the Lake Winnipesaukee real estate market, reflecting both its challenges and opportunities.
Active or Under Contract
New on the Lake Winnipesaukee's real estate scene is a special property on Governors Island. This isn't just one piece of land, but three parcels bundled together into one big offering. Before, you might have seen it listed as 19 Loch Lane, priced at $5,122,640, which was just an initial number used to get things started for an auction. A group of investors saw its potential and bought it for $8,925,000. Now, they're looking to sell it, in the same condition, for $12,998,000. The listing combines the total number of rooms from the two houses on the property, plus there's another piece of land included.
Over on Meredith Neck Road in Meredith, another big sale is about to set records. It's a huge place that used to be a girl scout camp, with over 4500 feet of shore along the lake. It hit the market and was snapped up almost immediately, rumored to be with a group of investors ready to develop it into a new area with lots of waterfront homes with a local builder . They're asking $20 million for this property, which covers more than 95 acres looking out towards Bear Island.
These two properties are big deals in the Lake Winnipesaukee area, showing how the market here is not just about buying a place to live, but also about big investments. As these properties change hands and get developed, they're adding to the story of what makes Lake Winnipesaukee an attractive place for both living and investing.
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