SOLD

The real estate market is showing a notable shift, with waterfront properties remaining on the market for longer periods as buyers take their time to make decisions. Last month, the average days on market reached 99, with a median of 58 days among the 20 active listings. 

In a striking sale, one property at 15 Archie Lane in Alton sold for $25,000 above the asking price. Meanwhile, another notable transaction occurred at 35 Leeward Shores, which closed for $4,550,000—$400,000 below the listed price. The sellers had originally purchased this property off-market for $3.2 million in August 2021 as a temporary residence while their primary home was under construction. They made significant improvements, including finishing parts of the basement and making other essential repairs.

The highest-priced sale last month was at 51 Keewaydin Drive, where a newly constructed, fully furnished home sold for $4,807,000, which was $143,000 below the asking price. Its proximity to a neighboring association proved to be a significant deterrent for many potential buyers, contributing to its 126 days on the market.

Interestingly, despite some buyers expressing reservations about the location, there was strong appreciation for the property's design and aesthetic. Many prospective buyers are now seeking similar properties in other parts of the lake, highlighting a growing trend in the local real estate landscape.

Shocking...

The property at 115 Mount Major Hwy in Alton has experienced an extraordinary surge in value. Originally sold in July 2020 for $289,000, it is now pending sale with an asking price of $1,289,000. Despite only modest improvements, this dramatic increase in value is quite surprising. Located in the tranquil "back bay" channel of Alton Bay, also known as Rand Cove, this property’s appreciation has puzzled market watchers. For a visual comparison, you can view the original listing at $239,000 HERE and the updated listing with minimal changes HERE.

Additionally, a unique real estate opportunity has emerged at 416 Endicott Street E in Laconia: a live-in boathouse. This distinctive offering allows you to own a piece of the waterfront lifestyle, though it cannot be used as a primary residence and does not permit any form of rentals. This boathouse offers an exclusive escape right over the water, ideal for those seeking a private lakeside haven.