Lakes Region Waterfront Sales Report – February 2012
There were seven waterfront sales on Winnipesaukee in February at an average price of $606,429. That doesn’t sound real impressive but there were just six sales last February at an average price of $467,667 so we are one up for the month. Obviously, you have to the more expensive homes selling to get a high average sales price and that was just not the case last month.
The highest sale of the month honors go to a tastefully remodeled contemporary home at 9 Garden Park Road in West Alton. This 1970’s vintage, four bedroom, three bath, 2.837 square foot home was totally rehabbed in 2004. The main level features a living room with wood fireplace, dining room, gourmet kitchen, plus two bedrooms while the master suite and an office are found on the second level. The walk out lower level has a family room with another fireplace, a second kitchen, and an additional guest bedroom. There are panoramic views from most rooms in the home and from the large deck. The house sits on a .2 acre lot with 68 feet of frontage and a covered boat slip. This property was originally listed in 2008 for $1.3 million, relisted in March of 2011 for $995,000, was reduced to $969,000, and then sold for $875,000 after 277 days on the market. The property was assessed by the Town of Alton for $746,800 when listed last year but has since dropped to $699,000.
I really like the property that sold at 176 Castle Shore Road in Moultonborough. This high quality, custom built, 1,900 square foot, two bedroom, contemporary ranch features a warm pine interior with post and beam construction and has a really great look. The open concept floor plan features a great room with soaring ceilings and fieldstone fireplace, dining area, and gourmet kitchen. The master suite also has beamed ceilings and a gas fireplace. The three season porch, as well as every other room, has fantastic lake views. There is also a detached one car garage with a bedroom above for your unexpected guests. It sits on a .83 acre lot with 100 feet of shorefront, sandy beach, and dock. This home was originally listed at $1.15 million, reduced to $899,000, and sold for $875,000 after 139 days on the market. It is assessed for $868,700. This home is one of those places that looks like it really belongs on the lake–a place that you can really escape to!
Also in Moultonborough at a buyer got a particularly good deal on a seven room, two bath, 1,152 square foot contemporary cape in the community of Balmoral. This 1978 vintage home was solid but needed some updating. I suspect the new owner is already making changes and getting the place ready for summer. This home has an open concept main level with a closed in porch that is by now part of the main living room. The lower walkout level has a one car garage plus some unfinished space that will soon be a family room. It sits on a .2 acre level lot with 70 feet of frontage with a fantastic sandy beach. I think the buyer got a particularly good deal on this property as it was originally listed at $399,000, reduced to $365,000, and sold for $335,000. The town has it assessed for $421,000 and it was actually appraised for $465,000. The buyer is extremely happy with this purchase!
Unfortunately, there were no sales on Winnisquam or Squam in February. This means that I have less to write about this week which makes my job easier although I’d rather report on a record number of sales on each lake. That’s a lot more exciting. I do expect that sales and property values will pick up on Winnisquam when the new canal opens connecting it to Winnipesaukee early next summer. Smile, we can dream can’t we?