Lake Oconee homes for sale: Market Report October 2013
The market has heated up in the area served by the Lake Country Board of Realtors - including Madison and Lakes Oconee and Sinclair.
Through September 2013, sales volume is up 32% year to date! In fact, closed sales volume through the first 9 months of 2013 are virtually equal to the 12 month volume in 2012, and more properties have closed year to date than all of last year.
The market features a wide variety of homes, including lakefront and resort homes, historic homes, and rural properties - so averages at a total market level don't tell the full story.
For example, the average home sold in 2013 is $273,618. And on average, we are selling about 61 homes per month - with 925 homes currently on the market that means we have an 18 month supply of inventory - ON AVERAGE.
But the devil is in the details, as my Dad used to say.
If you're looking for a single family home wih private lakefront inside one of Lake Oconee's gated golf communities, for example, you may want to know that the average sales price in 2013 is $1,113,100. We're selling about 3 per month, and there are currently 89 to choose from - so sellers have to be very competitively priced if they want to make a deal.
If you're looking for a single family home with private lakefront on Lake Oconee, in one of our many non-gated lakefront communities, you may want to know that the average sales price in 2013 is $418,365. We're selling about 6 per month, and with 138 on the market there is plenty to choose from.
Of course, many people choose to enjoy living in our Lake Oconee gated golf communities on golf-course view and interior lots - with amenities like championship golf and tennis, plus lake access with the marinas, its easy to see the appeal. The average price of off-water homes in our gated golf communities in 2013 is $499,573 - we're selling about 7 per month, and there are 151 currently available.
Here's where we debunk the myth that you can't enjoy the Lake Country area without a substantial budget - remember that $273,618 average sales price? Turns out, if we take away the homes inside the gated golf communities and on private lakefront lots - the market average price drops to just $163,883 - and covers 74% of all the homes sold in the market in 2013.
One thing is certain - you should not try to navigate the diverse homes of Georgia's Lake Country without a local market expert at your side. I've sold homes this year ranging from $30,000 to more than $500,000 - and I take each search as a unique opportunity to help my buyers find the best home for them.
If you're thinking about buying a home in Georgia's Lake Country - why not give me a call. You'll enjoy exploring the wonderful area I call home with your personal market expert.
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