In 2023, lakefront property sales on Lake Sunapee hit the lowest point since 2003 at 12 recorded sales. This marks a shift from previous years when a greater number of waterfront homes were available for sale. The Average Days on Market (DOM) also stood out from historical sales data at 11 days. For comparison, the Average DOM in 2022 was 32 and in 2021 it was 22 DOM.
Throughout 2023, client interest in purchasing lakefront property was strong but there was a lack of available inventory across all price points. This prompted buyers to widen their search, expanding to nearby local and even regional lakes.
Although buyer demand was high and inventory low, there was a decline in the Median Sales price from $3,690,000 to $2,700,000. This is more likely attributed to the number of 2022 home sales over $4,000,000 (7), rather than an actual decrease in home values. Notably, this marks the fourth consecutive year that the Average Sales Price for Lake Sunapee waterfront homes has remained above $2,000,000.
When looking at real estate trends for New Hampshire, luxury home sales above $5,000,000 increased from 22 sales in 2022 to 24 sales in 2023. However the number of homes sold above $1,000,000 decreased from 834 sales to 788.
The following chart shows Lake Sunapee historical home sales values going back to 2003.
Each year we document all direct waterfront sales for Lake Sunapee including list price versus closed price, cost per square foot, cost per foot of waterfront, days on market, and more. If you're interested in receiving a copy, please reach out to email@example.com or send a text to 603-252-6428.
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 2022 Lake Sunapee Waterfront report here.