April 2022 Lake Winnipesaukee Report
No new inventory created
FOUR properties sold last month and 4 came on- leaving for no NEW inventory in this already historically low inventory market. Same month 2021- 11 new listings came to the market in March. Last year there were also just 4 sales in the month of March- however, those were the "left-overs"- meaning they had been on the market so long they finally were being purchased because there was nothing else left to buy- hence the 282 days on market average for March 2021 versus this years 8 days on market for March 2022.
Currently, there are just 10 properties for sale on the lake with an average price point of $7,196,000- 1 is an island property, and the other is a to-be-built property. All these are Alton, Gilford, Wolfeboro, and 1 in Laconia.
Is a property that only has 65' of frontage and 2 deeded boat slips all across the street on Paugus Bay. This property was on the market less than 24 hours yet sold $149k below the asking price. It was purchased with cash- so the thought of an apprisal issue being the cause of such a difference in ask versus closed value isn't on the table, says the commission was not variable- so the fact that the agent had both sides and offering a discount because of that would not be the reason either. So why it went under so quickly in this hot market for that much below ask is lingering question for me.