May 22, 2024

Uvenco

Interior Of The Road

Six month real estate sales comparison in the Lakes Region 2022 vs. 2021 | Columns

Now that we’ve just completed the first half of 2022 in real state sales here in the Lakes Region, I’ve prepared a comparison of how the eight towns surrounding Lake Winnipesaukee correlate in residential single-family home sales to the same 6-month period in 2021.

• Single-family home sales (units) in the eight towns have decreased 20% from 410 sales in 2021 compared to 328 sales in 2022.

• The median sales price in the eight towns increased by 15.8%. The median sales price was $425,000 in 2021, and it increased to $492,500 in 2022.

• Total sales volume in the eight towns decreased by 5%. Total sales in 2021 was $266,349,487 and it decreased to $253,139,617 in 2022.

• The highest sales price in 2021 was $6,400,000 compared to $7,800,000 in 2022.

• Median days on the market was seven days in 2021 and was the exact same, seven days in 2022.

• We all knew unit sales would be down in the first six months of 2022 because of the extreme shortage of available inventory. I’ve broken down each town below to provide more specifics. In six of the eight towns, the median sales price went up considerably. Total sales volume was down in five of the eight towns for 2022.

• Even with 40-year high inflation and interest rates, which have doubled since the start of the year, the real estate market in the Lakes Region showed powerful resiliency considering we had record low available inventory. When you see only seven median days on the market for both years… that’s pretty remarkable, showing strong demand for Lakes Region real estate.

• If you compare the above results in real estate to the past six months in the stock market, real estate performed admirably. However, it’s been a vicious six months for stocks on Wall Street. This has been the worst start to a year for stocks in more than a half-century, and the same goes for crypto investing. However, all asset classes, whether buying a car, a house, tech stocks, bonds, or crypto, are affected when interest rates go up.

Alton single-family Jan. 1-June 30, 2022

42 listings sold. Median price was $502,450. The total sales volume was $29,762,664. The highest sale price was $4,000,000 and the lowest sales price was $226,557. Median days on the market was nine.

Alton single-family Jan. 1-June 30, 2021

52 listings sold. Median price was $473,450. The total sales volume was $33,115,575. The highest sale price was $3,250,000 and the lowest sales price was $73,000. Median days on the market was eight.

Gilford single-family Jan. 1-June 30, 2022

56 listings sold. Median price was $482,500. The total sales volume was $36,086,257. The highest sale price was $2,650,000 and the lowest sales price was $155,000. Median days on the market was six.

Gilford single-family Jan. 1-June 30, 2021

69 listings sold. Median price was $460,000. The total sales volume was $53,208,700. The highest sale price was $5,280,000 and the lowest sales price was $200,000. Median days on the market was five.

Laconia single-family Jan. 1-June 30, 2022

81 listings sold. Median price was $345,000. The total sales volume was $36,951,981. The highest sale price was $2,020,000 and the lowest sales price was $114,344. Median days on the market was six.

Laconia single-family Jan. 1-June 30, 2021

101 listings sold. Median price was $284,999. The total sales volume was $38,031,464. The highest sale price was $2,295,000 and the lowest sales price was $118,000. Median days on the market was seven.

Meredith single-family Jan. 1-June 30, 2022

35 listings sold. Median price was $925,000. The total sales volume was $44,968,745. The highest sale price was $3,995,000 and the lowest sales price was $159,000. Median days on the market was six.

Meredith single-family Jan. 1-June 30, 2021

51 listings sold. Median price was $580,000. The total sales volume was $38,639,154. The highest sale price was $2,718,304 and the lowest sales price was $89,000. Median days on the market was seven.

Center Harbor single-family Jan. 1-June 30, 2022

5 listings sold. Median price was $480,000. The total sales volume was $2,734,000. The highest sale price was $750,000 and the lowest sales price was $365,000. Median days on the market was nine.

Center Harbor single-family Jan. 1-June 30, 2021

3 listings sold. Median price was $750,000. The total sales volume was $4,825,000. The highest sale price was $3,800,000 and the lowest sales price was $275,000. Median days on the market was 27.

Wolfeboro single-family Jan. 1-June 30, 2022

46 listings sold. Median price was $546,250. The total sales volume was $37,689,4505. The highest sale price was $4,500,000 and the lowest sales price was $189,000. Median days on the market was seven.

Wolfeboro single-family Jan. 1-June 30, 2021

41 listings sold. Median price was $399,990. The total sales volume was $18,628,675. The highest sale price was $1,150,000 and the lowest sales price was $160,000. Median days on the market was seven.

Tuftonboro single-family Jan. 1-June 30, 2022

14 listings sold. Median price was $644,332. The total sales volume was $12,264,415. The highest sale price was $3,250,000 and the lowest sales price was $182,400. Median days on the market was 11.

Tuftonboro single-family Jan. 1-June 30, 2021

30 listings sold. Median price was $565,000. The total sales volume was $27,305,350. The highest sale price was $6,400,000 and the lowest sales price was $245,000. Median days on the market was 17.

Moultonborough single-family Jan. 1-June 30, 2022

49 listings sold. Median price was $525,000. The total sales volume was $52,682,105. The highest sale price was $7,800,000 and the lowest sales price was $245,000. Median days on the market was eight.

Moultonborough single-family Jan. 1-June 30, 2021

63 listings sold. Median price was $562,000. The total sales volume was $52,595,929. The highest sale price was $3,650,000 and the lowest sales price was $130,000. Median days on the market was eight.

Change is on the horizon; learn how to harness it.

This article was written by Frank Roche. Frank is president of Roche Realty Group with offices in Meredith and Laconia, NH, and can be reached at 603-279-7046. Data was pulled from NEREN on 6/30/2022 at 9:00 a.m. EST and is subject to change. Please feel free to visit www.rocherealty.com to learn more about the Lakes Region and its real estate market.