When a Million Dollars Over Asking Isn't Enough: Inside the Lakes Region's Most Competitive Market Moment

KEY TAKEAWAYS

- Virtual showings and FaceTime walkthroughs became essential tools for serving buyers who couldn't be physically present during compressed offer timelines

- During the peak COVID market frenzy, luxury lakefront properties on Lake Winnipesaukee saw bidding wars that exceeded asking prices by over a million dollars

- The most desirable lakefront properties combine southwest-facing water views, low-tax communities like Moultonborough, premium builders like Skiffington, and boathouse accommodations for larger watercraft

WHEN PERFECT ISN'T ENOUGH

Brie Stephens leads Lake Life Realty at Compass, the top-performing lakefront real estate team in New Hampshire's Lakes Region. She's seen competitive markets before. But nothing quite prepared her for the moment when clients offering a million dollars over asking price still walked away without the property.

The property in question was everything a luxury lakefront buyer dreams about. Situated on Alpine Park Road in Moultonborough, the Skiffington-built Adirondack-style home featured folded ceilings, a first-floor primary suite, and room for a future elevator shaft. The professionally designed landscaping by Stevens Landscaping included hydrangeas cascading along every retaining wall. An over-the-water boathouse could accommodate a MasterCraft X24 inside with additional docking outside.

The location delivered on every technical requirement, too. Southwest to western-facing views meant afternoon sun, which lakefront buyers consistently prefer. The property looked down the lake toward the Belknap Mountain Range and Gunstock. It sat minutes from downtown Center Harbor, right in Center Harbor Bay, and offered Moultonborough's notably lower tax rates. It was off a paved road. The property checked every single box.

NAVIGATING THE WEEKEND OFFER FRENZY

During the height of the post-COVID market surge, a familiar pattern emerged. New listings would go live, host an open house over the weekend, collect all offers by Sunday evening, and the seller would select their winner. Buyers had one shot to put their best and final offer forward.

Brie's clients were traveling internationally and couldn't be physically present for that critical weekend window. She attended the open house and FaceTimed them through the entire property. They could see the boathouse. They could watch the way afternoon light hit the water. They could virtually walk through rooms with those distinctive folded ceilings.

Lake Life Realty specializes in luxury waterfront properties on Lake Winnipesaukee and throughout the NH Lakes Region. Part of that specialization means understanding what truly matters to lakefront buyers. Brie knew this property delivered on the lifestyle her clients wanted. The boathouse alone was a major selling point, purpose-built for serious watercraft.

THE OFFER THAT WASN'T ENOUGH

Her clients came in strong. They offered a million dollars over the asking price, which had been listed around seven to seven and a half million. They waived inspections. They waived contingencies. They included a significant escalation clause designed to automatically increase their offer if competing bids came in higher.

They didn't get the property. The winning bid came in at one million one hundred thousand dollars over asking.

"Who knew that back then, people would lose out to offers that still made a million dollars over the asking price," Brie reflects. It was a marker of just how intense competition had become for premium lakefront properties with the right combination of features, location, and water access.

WHEN THE MARKET SAYS WAIT

The buyers ultimately purchased a lakefront property on a lake in Tennessee. But Brie remains convinced they'll return to Lake Winnipesaukee. That's often how it works with lake properties. People who understand the Lake Life lifestyle recognize when they've found the right location, even if the timing or specific property doesn't align.

Brie Stephens was named to NAR's 30 Under 30 and has closed over $128 million in lakefront property sales. She understands that not every client story ends with a signature at closing. Sometimes it ends with a lesson about market timing, about knowing when to push and when to regroup, and about maintaining relationships that extend beyond a single transaction window.

The experience reinforced what she already knew. In markets where demand dramatically outpaces supply, even perfect preparation and aggressive offers don't guarantee success. But the relationships built through those intense moments, the trust earned by showing up with a FaceTime walkthrough when clients can't be there in person, those become the foundation for future opportunities.

The Alpine Park Road property represented everything desirable about Lakes Region luxury real estate. For the buyers who secured it, they paid premium pricing for a premium property. For Brie's clients, the search continues, and when the right Lake Winnipesaukee property emerges, she'll be ready.

FREQUENTLY ASKED QUESTIONS

What makes Moultonborough desirable for lakefront buyers?

Moultonborough offers significantly lower property taxes compared to other Lake Winnipesaukee communities while still providing excellent lake access and proximity to towns like Center Harbor. Properties in this area often feature paved road access and desirable water orientations, making it particularly attractive for luxury buyers looking to maximize their investment.

Why are southwest-facing views preferred on Lake Winnipesaukee?

Southwest to western-facing orientations provide afternoon and evening sun on the water, which is when most lakefront homeowners are actually using their properties. These exposures also typically offer views down the lake toward mountain ranges like the Belknaps, creating more dramatic and desirable vistas compared to morning-only sun exposure.

How did the COVID market change lakefront real estate competition?

The post-COVID surge brought compressed timelines where properties would list, hold weekend open houses, and collect all best-and-final offers within 48 to 72 hours. Multiple offers became standard, and luxury lakefront properties regularly sold for six or seven figures over asking price, with buyers waiving traditional protections like inspections to remain competitive.