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The following is an excerpt from "Wolfeboro, New Hampshire, Is an Upscale Lake Town With Colonial Origins" an article about Wolfeboro, NH featuring quotes from Adam Dow of the Dow Realty Group.

Wolfeboro, New Hampshire, Is an Upscale Lake Town With Colonial Origins

The most affluent area on Lake Winnipesaukee offers multimillion-dollar waterfront real estate, a vibrant center and high-profile residents

Wolfeboro, New Hampshire, which proclaims itself “the oldest summer resort town in America,” is an under-the-radar getaway that is attracting a whole new generation of high-net-worth individuals who crave the privacy—and luxury—of a traditional small town.

“It’s one of the most affluent towns around Lake Winnipesaukee,” said Ashley Davis, managing broker of Four Seasons Sotheby’s International Realty. “There are no big-box stores or tacky fluorescent signs in town. It has a very casual, laid-back vibe, where people walk around in swim trunks and coverups all summer long.”

It is a place where the rich and famous try to fit in like locals, said Geordy Hutchinson, owner/broker of Yankee Pedlar, noting that the town, which is supported by tourism and the owners of second homes, has been a retreat for the wealthy and powerful since pre-Revolutionary times.

“You might see Mitt Romney buying light bulbs at the local hardware store,” Mr. Hutchinson added. “Over the last decade, it has become much more exclusive and appealing to the affluent.”

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Boundaries

The town is bounded by Ossipee on the north, Wakefield and Brookfield on the east, New Durham and Alton on the south and Tuftonboro and the shoreline of Lake Winnipesaukee, the state’s largest, on the west. 

Price Range

As reflected in real estate prices, Wolfeboro’s most luxurious waterfront addresses are in three areas: Sewall Road, one of the town’s oldest and most established areas; Winter Harbor, which is characterized by large estates; and Springfield Point, the newest neighborhood, which is defined by new construction. 

In 2022, the average sale price of a waterfront home was more than $3 million, said Ms. Davis. 

She noted that the highest-priced sale in 2022 was $12.3 million for a property on Springfield Point, which recorded three of the year’s biggest sales.

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“We have been experiencing multiple-offer situations where most properties sell for above asking price, offers are cash, and buyers are waiving all their contingencies to ensure they win the bidding war,” Ms. Davis said.

Although some of the newer, larger residences have not come on the market, their construction costs are rumored to be $20 million to $40 million, said Adam Dow, CEO of Dow Realty Group at Keller Williams Realty.

Housing Stock

Although there still are some family “camps” that have been held by the same owners for generations, most are being bought up and developed by premier builders.

Dating from the 1880s to the present day, styles include craftsman, shingle, Adirondack, Cape Cod and contemporary.

Properties typically are around an acre, and Ms. Davis added, in the past five years, the average home sold was 3,700 square feet and 50 years old with four bedrooms and four bathrooms.

 What Makes It Unique

Wolfeboro is “a community hub for six surrounding towns,” Mr. Dow said. “Our downtown is very idyllic in that we do not have chain stores except Walgreens and Dunkin’ Donuts. Downtown is easily navigated by foot, bicycle or by boat with our large and newly updated public docking area. And Wolfeboro boasts beautiful sunsets all year round.”

It’s also a generational meeting spot. 

“Parents bring their kids. Young adults come to the summer home straight from college,” he said. “Retirees are there to escape. They all come because it is where family memories are made.”

This house, on Sewall Road, listed for $4.25 million, is under contract. The 2,921-square-foot residence, set on more than 1.5 acres, has four bedrooms and three bathrooms.Adam Dow/ Dow Realty Group at Keller Williams Realty

Luxury Amenities

Wolfeboro is known for its waterfront restaurants, which feature incomparable lake views as the main appeal.

Popular dining destinations include Garwoods Restaurant & Pub, which serves steak and seafood, Wolfetrap Grill and Rawbar, the place to go for New England seafood and burgers, and Pavilion, which offers what its website describes as a “tasting experience.”

Yum Yum Shop, which Ms. Davis called “an iconic Main Street bakery and sweets shop that is a must-visit,” and Seven Suns Coffee & Tea, a small family business that serves not only coffee and tea but also juices and crepes, are other spots locals frequent.

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Wolfeboro Corinthian Yacht Club, which features a club house and a swimming beach, hosts events for members throughout the season; whileKingswood Golf Club, which opened in 1915, has a semi-private 18-hole championship course.Residents can send their children to Brewster Academy, a co-educational private boarding school for students in ninth through 12th grades.  

Outdoor activities center around the lake: Water paddle boarding, kayaking, water skiing, wake surfing, tubing, sailing, fishing and hiking are popular pastimes.