Lake Winnipesaukee Waterfront Market Report Vol 3 | Page 4

Lake Winnipesaukee Luxury Sales(# of closed waterfront sales at various price points)

< $ 3,000,000

$ 2,000,000- $ 2,999,999 $ 1,000,000- $ 1,999,999

8

4 16 12

8 13

32 42

42

2014

2015 2016

In a primarily a second home market the strength of the luxury segment is important to the overall health of our local real estate market. There were 63 Lake Winnipesaukee waterfront sales over 1 million dollars in 2016. Waterfront sales over 1 million dollars in the seven towns which front Lake Winnipesaukee were down slightly year-over, but sales are still up 31 % over 2014 when there were 48 sales over 1 million dollars.

The largest sale on Lake Winnipesaukee in 2016 was over at 45 Umbrella Point in Wolfeboro. The property was originally listed all the way back in 2005 at $ 13,500,000. It spent time on and off the market over the next 11 years. The price was dropped to $ 7,500,000 and the property finally sold at $ 7,000,000.

This sale serves as a reminder of the importance of pricing your property correctly at the time of listing. History shows us that properties perceived to be priced above fair market value lag on the market, and often times end up selling for less than if they had been priced a fair market value in the first place.

45 Umbrella Point, Wolfeboro

Jim Mardis

p: 603-340-1796 e: James. Mardis @ Verani. com www. LakesRegionRealEstate. com“ The Source for Lakes Region Real Estate”