The Lakes Region 2018 Year End Residential Sales Report
There were 89 single family residential home sales in December 2018 in the Lakes Region communities covered by this report. The average sales price for the month came in at $354,880 with a median price point of $277,000. Those numbers are down from the 113 sales posted in December 2017 and the average sales price is down a bit from $473,283 to $354,800. It is really a matter of what properties sold during the month…
For the year 2018 there were a total of 1,418 single family homes sold in the fourteen communities comprised of Belknap County plus Moultonborough, Tuftonboro, and Wolfeboro. Total sales were off about 8% from the 1,541 in 2017 but the average sales price did go up a little to $397,557.
The number of homes sold under the $100,000 and the $200,000 marks have dropped again this year while the mid-range properties have increased in each price category. Inventory levels are down particularly in the lower price points so this trend may continue.
Laconia once again posted the most residential home sales with 243 transactions, followed by Moultonborough with 150, Gilford with 141, Barnstead with 136, and Alton with 133. Center Harbor had the fewest sales with 15. The towns with the highest average sales prices were Moultonborough at $732,217, Center Harbor at $529,766, and Meredith at $504,819. It is amazing what some waterfront sales can do for the numbers! For those looking for more affordable housing, the towns with the lowest average sales prices were Tilton at $208,214 and Barnstead at $229,040. The average price has climbed back to within just 1.32% of the peak average in 2017. Some towns look to have improved more than others in the rebound but some of the disparity is most likely do to the effect of waterfront pricing in towns like Alton (-19,95%) and Center Harbor (-25.5%.) I think the market is back! What will 2019 bring??