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Sunapee Region Home Sales, August 2023

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We have passed the Labor Day milestone signaling the end of 'summer' though you wouldn't know it with the current high temps, and beautiful lake weather here in the Sunapee Region.

In the month of August there were a whopping 56 sales, up from 37 in July. The median sale price also jumped from $418,000 to $472,500. This is driven in part by the jump to 8 sales for more than one million dollars, compared to 3 in July. We will explore these in more detail below, but can be generalized by a big jump in real estate activity across a number of dimensions.

As mentioned there were 8 sales for more than one million dollars. Among these, 4 occurred in Sunapee and 2 in New London which are common for the luxury market. However, Springfield and Washington each had a home sold for over one million dollars bringing diversity into the market. The highest priced sale was for $4,795,000 in Sunapee.

There was also an interesting trend in the sale price of properties versus their list price, which we have highlighted in recent months. Though in August the trend was that homes which sold below the median price tended to sell for over their list price, while those over the median sold for under the list price. Intuitively this makes sense, that more affordable homes are accessible to a broader market of buyers whereas when the price goes up, the number of potential buyers goes down. Here is what the breakdown looks like:

Again, the median sale price was $472,500 so the columns in green are the homes which sold below this price, while those in red sold for over. There are 28 sales in each group, over versus under the median. For the sales below the median, on average they sold for 2.5% higher than their list price, while those over the median averaged 3.6% lower than the list. While not a drastic difference, having more sales this month has made this distinction pop a little more and shows some of the affordability pressures that can affect the luxury market.

If this all gives you a headache, it can be summarized as follows "More affordable homes tended to sell for over their asking price, and luxury homes tended to sell for under their asking price". Real estate trends are always shifting and influenced by both broad and local factors. It can be a confusing space to navigate, and if you'd like help joining us in the Sunapee Region please contact us. We are familiar with broad trends, but also have deep knowledge in our local area and would love to help you on your journey.

Bradford 

100 E Main Street - $365,000 

Croydon 

105 Kemp Road - $750,000 

Grantham 

559 Route 114 - $350,000 

61 Docs Drive - $365,000 

18 Wedgewood Drive - $425,000 

47 Hummingbird Hill - $430,000 

27 Fairway Drive - $550,000 

26 Fairway Drive - $565,000 

7 Rolling Hill - $750,000 

Lempster 

13 Dero Road - $105,000 

20 South Hillside Drive - $200,000 

New London 

84 Everett Park Road - $489,000 

23 Castle Lane - $553,000 

120 Pine Hill Road - $561,000 

1667 King Hill Road - $618,400 

55 Page Road - $875,000 

231 Pleasant Street - $895,000 

193 Maple Lane - $1,160,000 

1347 Little Sunapee Road - $1,995,000 

Newbury 

9 Jenkins Road - $625,000 

648 Route 103A - $650,000 

30 Gerald Drive - $675,000 

Newport 

173 Elm Street - $200,000 

6 Dolores Street - $260,000 

14 Swan Street - $292,000 

224 S Main Street - $370,000 

82 Paradise Road - $399,000 

447 Bradford Road - $420,000 

662 Bradford Road - $535,000 

Springfield 

283 Twin Lake Villa Road - $750,000 

203 Colby Hill Road - $1,195,000 

Sunapee 

16 Maurer Lane - $365,000 

46 Depot Road - $375,000 

38 High Street - $465,000 

46 Burma Road - $705,00 

420 North Road - $750,000 

104 Emily Lane - $770,000 

26 Sunapee Heights Court - $999,000 

73 Oakledge Road - $1,210,000 

386 Bay Point Road - $1,330,000 

82 Browns Hill Road - $1,925,000 

146 Garnet Street - $4,795,000 

Sutton 

15 Poor Farm Road - $417,000 

102 Main Street - $480,000 

Unity 

7 Potato Hill Road - $225,000 

307 Unity Springs Road - $390,000 

Warner 

247 Kearsarge Mountain Road - $261,000 

655 Kearsarge Mountain Road - $350,000 

30 West Main Street - $360,000 

151 North Village Road - $389,000 

Washington 

93 Bailey Road - $312,000 

196 Adams Drive - $387,000 

14 Snow Road - $391,000 

152 Washington Drive - $445,000 

2097/2096 Valley Road - $463,000 

1681 Valley Road - $1,103,000 

*There were no home sales in Andover, Goshen, or Wilmot during the month of August 

**Data is from NEREN MLS and is subject to human error. Sometimes information outside of our control is upload to the system late which means our numbers could be off by one or two sales 

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