From a historical perspective, 2022 should go down as the year of the luxury market in New Hampshire. There were 21 home sales over $5,000,000 last year compared to 8 sales in 2021 and only 4 sales in 2018. Taking this a step further, home sales over $1,000,000 in New Hampshire have increased by over 233% since 2018.
In regard to the Lake Sunapee market, the exclusivity and desirability of Lake Sunapee have continued to increase. What this means is that more people are deciding to hold on to their properties, keeping options limited on the lake and prices at an all-time high. The cost per foot of Lake Sunapee waterfront practically doubled from 2021 when it was just $12,348 per foot and in 2022 it was $24,615 per foot of waterfront. Please bear in mind, 13 of the 17 lake home sales in 2022 had only 115 feet of waterfront or less which does skew our small data set.
As you can see in the numbers below, the average sales price on Lake Sunapee increased by over $1,800,000 since 2019.
Another area to note when reviewing Lake Sunapee home sales are the water access communities. In total, there are over 16 located in Newbury and Sunapee that provide lake access. Two of the 16+, Granliden and Indian Cave, offer condo-style living. Although these properties don’t come up for sale often, they offer an alternative price point and a range of amenities.
In 2023 we will likely face some challenges, including a limited supply of premium properties, competition among buyers, and global economic uncertainty. However, we expect the waterfront market to remain competitive with steady demand but slower appreciation than we have experienced over the past few years.
Below is an incredible amount of historical detail for Lake Sunapee sales. If you would like even more information, send us a message or give me a call at 603-252-6428 and we can send you our spreadsheet breaking down home sales on Lake Sunapee since 2015.
If you’re interested in buying a waterfront property on Lake Sunapee or another nearby lake (Little Lake Sunapee, Pleasant Lake, Kezar Lake, Highland Lake, Eastman Lake, Newfound Lake), we’re happy to discuss the New Hampshire lakefront market and what we are seeing in waterfront real estate trends.
You can view our 2021 Lake Sunapee Waterfront report here.
Sunapee Region Visitors Guide
If you would like to learn more about the Lake Sunapee Region, our Visitor’s Guide is full of great information on what to do, where to dine, outdoor activities and a guide to our beautiful lakes.
*** Data is from NEREN MLS and is subject to human error. Sometimes information outside of our control is uploaded to the system late which means our numbers may vary slightly.