October was a pretty good month for waterfront sales on Winnipesaukee, with 15 transactions at an average price of $1,279,667. There were 6 sales over $1 million with the highest coming in at $4.35 million. The median price point on the lake for the month was $895,000. That brings us to a total of 143 sales on Winni so far this year with an average price of $1,102,119 or a 32 percent increase in sales compared to the 108 posted in the first ten months of 2014. Not too shabby...
So, right to the big sale first at $4.35 million. This property is located at 90 Keewaydin Road in Wolfeboro in desirable Winter Harbor. This 6,650 square foot lake home was built in 1919 and has five bedrooms, eight bathrooms, spacious living and family rooms, a wonderful kitchen, formal dining room and den. It features two fieldstone fireplaces, custom woodwork, hard wood floors, and lots of glass to bring in the spectacular sunset views. There are decks and patios for entertaining, a great lawn, tennis court, and 315 feet of frontage, a sandy beach and covered dock round out the package. But it was likely the 12.39 acres and four lots of record that stirred the imagination and interest of the buyer. Will it be developed? Will there be a few more residences built there or does the buyer want privacy? Time will tell. This property was originally listed in 2011 at $5.85 million and then at $5.35 million in 2012 for a total of 538 days. It remained off the market until a buyer was brought to the property this year. This property is currently assessed at $2,572,600.
The median price point representative is at 14 Gateway Road in Wolfeboro, which is also in the Winter Harbor area of town. This property features a nicely maintained 1950s vintage ranch style log cabin with 1,040 square feet of rustic living space, three bedrooms, and one bath. The interior is pretty much as you would expect; a large 14' x 27' living room with brick fireplace, a cozy kitchen and a dining room with the tongue and grooved pine boards and exposed log walls. There's also a great front porch to sit on and enjoy the fabulous southwest exposure and sunsets. It sits on a very private 2 acre lot with 200 feet of frontage and a u-shaped cover dock with a boat lift. This property was listed at $1.1 million and went under agreement in just 30 days for $895,000. It is assessed at $865,000.
The entry level sale on Winni was at 10 Camp Island in Gilford. This 1,268 square foot cottage was built in 1967. It has three bedrooms, an open concept living/dining/kitchen area, a 10 feet by 29 feet screened porch, and a bunk house out back. This place might be is a tad more rustic than a lot of buyers would have wanted as there is no electricity, the heat is a wood stove, and you'll find yourself out yonder in the outhouse when nature calls. Gas lights and gas appliances and lake water round out the premium amenities. But this place is really about getting away to nature on the 1 acre lot with 150 feet of sandy frontage, the 42 foot dock, and broad lake and mountain views. Obviously, those features won out over the lack of modern creature comforts as a buyer was found after 73 days on the market. This property was listed at $338,000 and sold for $315,000 which is slightly over the $307,400 assessed value.
Over on Winnisquam there were three sales for the month. A 1,520 square foot three bedroom built in 2010 at 76 Mallard landing Road in Belmont sold for $275,000 in just 43 days. Also in Belmont, at 30 Bayview Drive, a 70s vintage renovated two bedroom cottage with 711 square feet of living space on a .12 acre lot with 100 feet of frontage sold for $325,000. This one took a little longer to sell as it was originally offered at $399,000 and then $395,000 back in 2011. It was listed this year at $339,000. The largest sale on the lake was at 208 Leighton Ave North, Laconia. This 972 square foot three bedroom cottage was right at the water's edge and was totally rebuilt a few years ago. There's also a two car garage with sleeping loft for when Cousin Eddie comes unexpectedly. The lot is about a half acre, toward the north end of the lake and has 107 feet of frontage and sunset views. It was offered at $614,900 and sold for $590,000 after just 104 days on the market. These three sales bring the total number of transactions on the lake so far this year to eighteen compared to fourteen for the same period last year.
Pease feel free to visit www.lakesregionhome.com to learn more about the Lakes Region real estate market and comment on this article and others. Data compiled using the NNEREN MLS system as of 11/12/15. Roy Sanborn is a sales associate at Four Seasons Sotheby's International Realty and can be reached at 603-677-7012.
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