SQUAM LAKE

by JEREMY AVERY

“IF YOU’RE LUCKY ENOUGH TO BE AT THE LAKE THEN YOU’RE LUCKY ENOUGH” is a quote I saw painted onto a canoe paddle and hung over the screen door at a lakeside camp when I was a kid. I still think about that quote, that paddle, and that camp.

The lake was Squam Lake. That camp is still there, an owner or two later, and with a few improvements here and there.

One of the things you learn growing up in New Hampshire is that all of our lakes are special in their own way. You can have the crystal clarity of Newfound Lake, the sprawling recreational opportunities of Winnipesaukee, or the quiet accessibility of the many smaller lakes to the south. But there is something about Squam, something unique, and to me at least, something from another time and place.

SQUAM FACTS AND FIGURES

The facts and statistics of Squam Lake are easily found. According to New Hampshire Fish and Game, Big Squam is 6701 acres of surface water with an average depth of 24 feet and a max depth of 99 feet. Because Big and Little Squam are only separated by a navigable channel in Holderness, you can add Little Squam’s 454 acres and see that functionally, Squam Lake is over 7,000 acres, easily the second largest lake in New Hampshire trailing only the massive Winnipesaukee. The lake(s) stretch from the incredibly picturesque town of Sandwich in the northeast all the way to Ashland, where it empties into the Squam River, itself navigable for a healthy stretch, meandering through downtown Ashland, before finally emptying into the Pemigewasset River on its way to the Atlantic. Other towns that have shorefront on Squam are Center Harbor and Moultonborough.

Squam Lake is a wonderfully diverse fishery, home to cold-water species such as Lake Trout and Land-Locked Salmon as well as warm-water targets like Large and Smallmouth Bass and White Perch. It is a popular destination for early-season trolling as the ice leaves the Lake and the trout and salmon prowl near the surface for baitfish. Later as the water warms and the trophy fish seek the deeper spots in the lake, fisherman turn their attention to the bass species that are more easily found in the warmer and shallower water. Squam is a very rocky lake and that feature, while not great for boats and their motors, is part of what makes it a good bass fishery.

Squam is home to iconic New Hampshire birds as well. Loons are a common and welcome sight and sound on the Lake. However there is serious concern regarding the health of the Squam Lake loon population with nesting success lower than in other New Hampshire lakes. Please see “Further Resources” at the end of this blog for more information.

In the last two decades there has even been a usually-successful bald eagle nest as well. In 2023 the nesting pair of eagles successfully hatched, and fledged, two young eaglets. That nest, which has moved around a bit, is zealously protected and boaters are kept away as much as possible.

The forested shoreline of Squam as well as the very rural and secluded nature of the area it occupies provides a home for most of the larger New Hampshire mammals as well including bear and deer, and of course the much sought-out moose.

REAL-ESTATE REALITIES

Ultimately this is a real-estate blog, and the facts and figures regarding home sales on Squam are interesting, and for those who are looking to buy a waterfront home there, they are intimidating. As of March 25, 2024 there are 3 waterfront listings on Squam, 2 of which are under contract, leaving ONE HOME AVAILABLE ON SQUAM LAKE. While there are inventory issues throughout the New Hampshire real-estate market, this is taking it to an extreme. The listed homes have an average asking price of $3,650,000, an extraordinary investment to be sure. Looking back at the market over the last two years, the numbers are even more staggering. In that time there have been 12 waterfront homes sold on Squam, with an incredible median sales price of $5,447,500 and a miniscule time-on-market of 21 days (All of these statistics are courtesy of PRIMEMLS and are as result of a map-based search.).

Why are the prices so high? The real-estate market, like other sectors of the economy is subject to the laws of supply and demand. So, let’s explore them both, starting with the demand. Simply put, Squam is a highly desirable place to live, whether it is a full-time residence or second (third? fourth?) home. The basis for that desirability can be found in the way that the natural appeal and true New Hampshire character has been largely preserved on Squam. One of the best ways to observe this, short of being on the water itself, is to drive along Rt 113 from Holderness along the northern shore of the lake. I did that recently and was again struck by the quality of the homes and properties along both sides of the road. Going into Sandwich is always a treat, with stately horse properties and views of the mountains readily apparent. This is the route that will take you by the iconic Rockywold Deephaven Camps, historic properties on the shore of Squam. It is also the home of trail to Rattlesnake Mountain, with its incredible views of the Lake, some of its many islands, and points south. Other drives along the lake will show similar appreciation for the forested shorelines, the clean water, and the rustic charm.

It must also be said that the popularity of Squam was helped tremendously by the play, then the movie, “On Golden Pond.” This movie was a tremendous success and it brought the beauty of Squam Lake to movie-goers throughout the world. The local area seems to have largely embraced, after initial reticence, the attention brought by the movie. This is probably because the nature of the film played into the preservationist mindset of the local population. The setting of the film was beautiful, natural, and it only makes sense that its fans would not be inclined to “ruin” the location of its creation. You can still see references to the film in names of local businesses such as The Manor On Golden Pond and Walter’s Basin (a reference to a fish in the movie).

There are a myriad of other reasons why Squam is so desirable. It is within reasonable driving distance from southern New England. It is easily accessible off of Interstate 93. The towns that surround it are themselves highly sought after in the real-estate world, with great local amenities such as shopping, dining, skiing in the winter and golf, music, and other entertainment in the summer. Most importantly, the Lake itself is great for fishing, boating, or sight-seeing (The Squam Lakes Science Center, itself an amazing place to visit, runs a tour-boat program from its facility on Rt 113 in Holderness).

The issue with lack of supply can also be found in the preservationist instincts of the surrounding communities. Simply put, they have made it very difficult to develop new waterfront properties along the shores of Squam. This is neither criticism or praise, it is simply an observation on the priorities of the invested communities and people. This was an intentional and well-conceived agenda to preserve the natural characteristics of the Lake. This has been accomplished through zoning laws regarding lot size, requirements on septic systems, Lake and road frontage minimums, setbacks, and other regulations designed to preserve the beauty of Squam. The communities have also had the cooperation of large land-holders who shared their desire for preservation. A perfect example of this is the Chamberlain Reynolds Memorial Forest in Center Harbor. This incredible property is owned by the New England Forestry Foundation and was donated to them many years ago by a private citizen named John Wister. The property includes 180 acres, 5 miles of natural trials and almost a mile of Squam Lake frontage. This preservation of this property is reflective of the communities’ commitment to Squam Lake and its well-being.

Another factor in the lack of homes for sale on Squam is the RELATIVELY low taxes (don’t yell at me about your $30,000 tax bill, I understand! This is only in comparison to other areas of the state). This makes it easier for successive generations to own lake-front property. It also makes it easier to keep a property during short -term financial situations that might otherwise mandate a sale.

None of this is to say that new homes are not being built on Squam. They are, but not nearly to the extent that you see on the other lakes in the area.

WHAT CAN YOU DO?

So, what is a buyer to do? Probably the best way to get in on the Squam Lake real-estate market is to enlist the help of at least one local agent. Agents that are familiar with the Squam Lake market can give you a leg-up and advance knowledge of what might be coming available. Also, like any other buyer, you have to be prepared. Always have an updated prequalification or proof of funds from your financial institution. And when your agent calls you and says “this is it!” make sure you have the ability to view the home without delay. Time is the enemy of home-buyers these days, wherever the market, whatever the price-point.

It might also be beneficial to reach out to a certain middle-aged Realtor who specializes in new construction and may have something up his sleeve…

FURTHER RESOURCES

The Squam Lake Region is home to a variety of cultural, natural, and historical institutions. I highly recommend checking them out if you want to learn more about the lake and the communities surrounding it

SQUAM LAKE SCIENCE CENTER (www.nhnature.org) This is a truly wonderful facility with animal exhibits, walking trails, and Squam Lake tours.

SQUAM LAKES ASSOCIATION (www.squamlakes.org) This organization works to protect the lake and its natural character. They have a facility on Rt 3 in Holderness and preserve many properties along the lake and the watershed. The Association provides the public with opportunities to camp along the shore and on the islands of Squam, a unique experience.

LOON PRESERVATION COMMITTEE (www.loon.org) For almost 50 years this organization has sought to protect loons in New Hampshire. Staff and volunteers work in a variety of programs to monitor loon health, nesting success, environmental conditions, and other aspects of the loon world.

WORDS ON A PADDLE

As my career has gone on, I have been fortunate enough to have been in many waterfront homes throughout New Hampshire. I have even sold more than my share of them. And I have seen that quote about being lucky enough to be at the lake in several other homes and in other contexts. It was not the singularly unique expression of contentment and joy that I thought it was. But it was true and beautiful, and that is always enough.

JEREMY AVERY IS CO-FOUNDER AND PRINCIPAL BROKER AT LACASSE & AVERY REAL ESTATE BROKERAGE. HE IS A NATIVE OF THE LAKES REGION, LIVING IN BRIDGEWATER, NH. HE SPECIALIZES IN WATERFRONT NEW CONSTRUCTION PROPERTIES.