Well first the good news. 18 residential homes sold last month according to the Milledgeville/Lake Sinclair MLS data on Lake Sinclair. That's two more than the previous month and with the current 364 Active Listings on Lake Sinclair that means we have 20 months of inventory. That's a great number compared to the first part of the second quarter which we seemed to end very strong.
Not the best news, but only slightly up from last month to just 193. That means it's taking just over 6 months on avearge to sell a home on Lake Sinclair. One sold the day it was listed last month and one was on the market for 778 days. Yes, 778 days. To have one that has been on the market 2 + years in the mix of numbers to average less than 7 months is fabulous. If they are priced right, they seem to be moving at this point. Over priced... lagging a little bit.
And now for the sad news. We had a couple of lagging foreclosures that had been on the market for a long time that had "we can't get them financed" issues that really pulled the average sales price down for the month. It was just $208,444. Even though that's the average with inventory going down I still see prices as stable even though the average was down from over $250,000 last month. It was more a matter of more "weekend fixer type" homes that sold as opposed to something ready to move into.
If you are searching for a home on Lake Sinclair for full time living or a weekend get-a-way check out our website. LakeSinclairHomesForSale.com where you will be asked to register with a valid email address, but then we'll email you weekly notifications of new listings and those that have perhaps been reduced to be in your price range. Don't want to register with your email address and get notifications... well you can still browse all the properties in the MLS on our other site Lake-Sinclair.com and search under the "HOME SEARCH" tab at top. We don't mind not having your email address, the updates are only to help keep you informed.
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