The Lakes Region 2015 Year End Residential Sales Report
THE LAKES REGION 2015 YEAR END RESIDENTIAL SALES REPORT
We ended 2015 on a positive note with a total of 92 residential homes selling in December in the twelve Lakes Region communities covered by this report. That number is up from the 83 sales posted in December 2014. The average sales price came in at $377,104 thanks to strong waterfront activity in Moultonborough and Gilford.
Thankfully, 2015 was another pretty good year with a total of 1,102 residential home sales. That’s up from the 989 residential sales in 2014 and the 1,041 sales in 2013. The average sales price for 2015 came in at $343,497 which is well above the $312,413 average in 2014. The median price point came in also a little higher at $225,000 compared to $205,500 last year.
What this all means is that there continues to be a slight shift toward more higher priced homes selling. In 2013, for example, 52.7% of the sales were under $200,000. In 2015, that percentage has dropped to 42.3% of the total sales. In 2013, 17 percent of the sales were over $400,000 and in 2015 that has risen to 19.7%. But the biggest jump was in the mid-range homes priced between $200,000 and $299,999 which went from 22% in 2013 to 27.3% in 2015. This kind of indicates, to me at least, that some people are feeling a little better about spending money and are buying vacations homes and perhaps trading up for larger homes in the area.
The total residential sales volume for the year was up considerably to $378.5 million compared to $308.9 million in 2014 and $312.7 million in 2013. That’s an 18.5% increase in dollar volume over last year and an 11% increase in the total number of sales! Not too bad!
The average time on market that it took to sell a home came in at 159 days, which was just two days longer than the 157 posted last year. This number is always misleadingly low as many homes that sold were listed numerous times but the previous days on market are not factored in.
Laconia once again posted the most residential home sales with 209 transactions, followed by Moultonborough with 144, Gilford with 139, Alton with 132 and Meredith with 105. Center Harbor had the fewest sales with 18. The towns with the highest sales average were Alton at $515,145, Moultonborough at $492,340, and Gilford at $485,488. These are the towns with the high percentage of waterfronts so it makes sense that their average sales price would be through the roof.
The towns with the lowest average sales prices were Tilton at $156,004, Barnstead at $176,155 and Gilmanton at $180,861. There are lots of affordable homes in these towns in particular, but they can be found everywhere in the Lakes Region…
And, just in case you are wondering, the highest sale for the year was at 24 Tranquility Lane in Alton. This 8,600 square foot residence was built in 1905 on a 3 acre lot with 342’ of waterfront, a 1,600 square foot boat house, and spectacular views. It sold for $5.85 million. I just point this out in case you win do the billion dollar Power Ball at some point. You might want something similar…
Data compiled using the NNEREN MLS system.