Real estate inventory in The Lakes Region | Columns

We’re only two weeks away from Memorial Day Weekend when we jumpstart our summer tourist season here in the Lakes Region. I thought I’d take a look at our current inventory of single-family homes for sale in some of our surrounding towns to see how we are positioned going into our selling season.

If you look at the inventory Statewide, there are presently 1,038 single-family homes for sale. That’s an improvement over 660 homes available during the late winter months. The median listing price statewide is $499,900, with a low of $45,000 up in snowmobile country in Stewartstown and a high of $19.5 million on Lake Winnipesaukee in Wolfeboro.

Here’s a breakdown of some of our local towns:

Laconia: There are 11 active single-family listings. The median listings price is $299,000, with a low of $249,900 and a high of $1,495,000 on Paugus Bay. Median days on the market 17.

Belmont: There are 3 active single-family listings. The median listings price is $508,000, with a low of $265,600 and a high of $739,999 — median days on the market 35.

Gilford: There are 15 active single-family listings. The median listings price is $949,000, with a low of $145,000 and a high of $10,000,000 on Governor’s Island — median days on the market 26.

Alton: There are 14 active single-family listings. The median listings price is $515,000, with a low of $219,000 and a high of $2,695,000 on Lake Winnipesaukee — median days on the market 39.

Wolfeboro: There are 12 active single-family listings. The median listings price is $699,500, with a low of $260,000 and a high of $19.5 million on Springfield Point, Lake Winnipesaukee — median days on the market 27.

Tuftonboro: There are 10 active single-family listings. The median listings price is $974,000, with a low of $424,850 and a high of $3,300,000 on Lake Winnipesaukee — median days on the market 47.

Moultonborough: There are 5 active single-family listings. The median listings price is $939,900, with a low of $455,000 and a high of $1,495,000 on Lake Winnipesaukee — median days on the market 20.

Center Harbor: There is 1 active single-family listing at $2,200,000, and it has been on the market for 20 days.

Meredith: There are 17 active single-family listings. The median listings price is $759,000, with a low of $295,000 and a high of $2,250,000 on Lake Winnisquam — median days on the market 22.

New Hampton: There are 3 active single-family listings. The median listings price is $359,9000, with a low of $129,900 and a high of $775,000 — median days on the market 26.

Holderness: There are 3 active single-family listings. The median listings price is $699,950, with a low of $595,000 and a high of $2,500,000 on Squam Lake — median days on the market 84.

Sandwiches: There are 2 active single-family listings. The median listings price is $462,450, with a low of $424,900 and a high of $500,000 — median days on the market 92.

Sanbornton: There are 2 active single-family listings. The median listings price is $2,135,000, with a low of $375,000 and a high of $8,895,000 — median days on the market 350.

Tilton: There are 5 active single-family listings. The median listings price is $649,900, with a low of $99,900 and a high of $824,000 — median days on the market 43.

So looking at the numbers above, the 950 Realtors in the Lakes Region Board of Realtors have their work cut out for them. We are starting to see more inventory come on the market gradually. However, the price points seem to be coming in higher ranges. The current rate of home price growth we have seen locally and nationally isn’t sustainable, in my opinion. My basic economics class in college dictated that home price appreciation cannot outpace income growth forever. Home prices rose 19.2% nationally this past year, and median home prices have increased at four times the rate of household incomes since 1960. I feel we have to embrace higher mortgage rates for a period of time in order to cool off the real estate madness. we’ve seen and hope that real estate inventory rises.

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 5/10/2022 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.

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