There were 1246 residential homes for sale as of October 1, 2010 in the communities listed in this Lakes Region Real Estate Market Report. This total mirrors the tally from last October 1 at 1249. The average asking price of $569,141 is down from $604,125 last October as was the median asking price of $289,900 compared to $299,000. We dropped about a month’s worth of inventory and currently have...

There were 68 residential home sales in the Lakes Region of NH in the month of August at an average price of $409,283. Last August there were 67 sales at an average price of $359,836. On a rolling 12 month basis ending 8/31/10 we stand at 773 sales at an average price of $312,298 compared to 675 sales with an average price of $295,414 for the 12 month period ending 8/31/09. That is a 14.5% increase in the total number of sales and about a 6% increase in the average price.

Sales in...

August was another good month for Winnipesaukee waterfront sales with a total of fourteen homes that have happy new owners. The average sales price came in at $1.1 million for the month. Of these fourteen properties, three were island cottages with one on Pine Island (sold-$305,500), one on Mark (sold-$345,000) and a nice one on Camp Island (sold-$800,000). Sales in August mirrored August 2009 with the same total of fourteen at an average price of $1.09 million.

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There were only 1318 residential homes on the market as of September 1 in the Lakes Region of NH communities covered in this report. I am being a little sarcastic. That it is better than the 1344 available on August, but more than the 1291 last September 1st. This total represents 20.5 months worth of inventory which is still three times what it should be! I guess this must be the new norm.

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Wow! Lending institutions are making free money available to home buyers! Well, maybe not free, but it is about as close to free as you are probably ever going to get! FHA and conventional 30 year mortgages were at 4.375% when I checked the other day. A 15 year fixed rate was an unbelievable 3.75% and a 5/1 ARM was at 4.125%. These are really pretty extraordinary interest rates! It is also extraordinary, in a bad sort of way, that even with the relatively low home prices, buyers are not taking advantage...

While there is not a lot of new home construction going on in the Lakes Region of NH, it is nice to see that there are some homes being built despite the depressed housing market that we are currently struggling through. It is even nicer to see that some of the developments are actually moving product!

The busiest new home development right now is the Villas at Paugus Bay...

The Concord Monitor reported last week that “Statewide residential sales fell (in NH) nearly 32% in July from a year earlier… the steepest annual decline in more than two years…” Yes, July was not a particularly great month for home sales in NH or for that matter anywhere else, but why does everyone have to focus so much on every little negative turn? In the Lakes Region of NH, the towns...

July was a good month for Winnipesaukee waterfront sales, at least when compared to last year. There were a total of six Winnipesaukee sales at an average of $955,333 compared to only half that number last July although the average sales price in July 2009 was higher at $1.82 million. Two of the six sales posted last month were island properties and those do obviously bring less money...

August is the high point for the summer. Unfortunately, it is also the high point for the total number residential listings on the market this year. As of August 1 there were 1344 homes on the market in the Lakes Region towns in this report. That’s up 6% from the 1277 available last month and the 1281 posted last August. Based on the rate of sales for the previous 12 months, we have a 21.5...

June was a pretty good month for Winnipesaukee waterfront sales with a total of eight happy new homeowners finding a home to dock their boats on the shores of the big lake. This doesn’t quite measure up to the eleven sales last June, but the average sales price came in higher at $1.38 million compared to an average of $771,773 last June. There were five sales over $1 million last month compared...

We are half way through another year and you have to ask: “Are we having fun yet?”. In the communities covered by this Lakes Region of NH report, home sales have improved nicely but it certainly doesn’t feel like we are at the Six Flags Amusement Park. Every sale now seems to be fraught with unending complications and issues as a result of increased regulations and scrutiny of the lenders...

The residential home inventory stood at 1277 homes available as of July 1, 2010 in the communities in this Lakes Region Real Estate Market Report. The average asking price came in at $551,228 and the median asking price was $285,000. This inventory level represents 19 ¾ months worth of homes on the market. That is down slightly from the 22 months worth of homes available last July 1 but...

In search of an immaculate home...

I was searching the MLS last week for a home between $250,000 and $450,000. A home that you would consider to be of high quality, great condition, wonderfully maintained, and that has lots of character and charm. A home that I would call special. I was only looking in three or four specific communities but I really didn’t come up with much. Undaunted,...

The telephone is ringing, well, at least a little bit. It seems that buyers are out riding around and calling in on the yard signs which is great, but sometimes frustrating. One afternoon this week our duty agent had two inquiries on properties by cell phone and lost calls due to poor cell phone connections. Sometimes calls will get dropped two or three times in order to get just...

It is the 87th Anniversary of the Laconia Motorcycle Rally and thousands of bikers have descended on the Lakes Region to enjoy the scenery and hospitality of the area. Today’s motorcycle enthusiasts are a far cry from the early days. Today there are doctors, lawyers (a few Indian Chiefs), business professionals, corporate executives, and more than a few real estate agents out there enjoying...