High-dollar homes see surge, mobile homes slump in Meredith valuation
MEREDITH — The preliminary numbers from the town's new property valuation update show a decline in values in almost every category since 2009.
Two categories of property sales on either end of the price scale – mobile homes and property valued at more than $2 million – showed substantial change.
The increase in the number of homes worth more than $2 million sold between 2009 and this year is a sign that property values, which declined nationally during the recession, have begun to recover, town Tax Assessor Jim Commerford said.
"It appears that property values seem to be stabilizing," Commerford said.
The valuation of town property being completed this year shows that the overall taxable value has decreased 6.25 percent from 2009 — $1,858,056,791 to $1,741,940,934, Commerford said.
The largest decrease in property values occurred in mobile homes in mobile home parks, which dropped by 30 percent.
"That's pretty much a trend across the country with mobile homes," he said.
The second-largest change was in properties with values of greater than $2 million, which increased by 11 percent, he said. But the more significant number in the more-that-$2 million category is the number of homes sold, Commerford said.
Between the 2006 to 2009 property value updates, the town had only had one home sold in that category.
From 2009 to this year, as many as 10 homes have sold in that category, he said.
Also significant, he said, is the fact that many homes have sold for more than their assessed value, he said. Among other properties in town:
• Single-family residential home values fell by 9 percent;
• Condominiums dropped by 5 percent;
• Multi-family home values dropped by 5.4 percent;
• Vacant land fell by 17 percent; • Town waterfront properties dropped by 4.6 percent;
• Waterfront properties on Pemigewasset Lake fell by 12 percent;
• Winnipesaukee waterfront properties fell by 5.3 percent;
• Winnipesaukee islands dropped by 3.5 percent;
• Lake Wicwas values dropped by 4.7 percent; • Lake Waukewan fell 2 percent;
• Winnisquam values dropped by 1.8 percent.