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Market Report - Lake Oconee area home sales through Nov 2014
How's the market?
Its the burning question all around the Lake Oconee area.
Continuing to improve is the best way to answer the question, followed by "it depends" on what type of home you are asking about.
Overall, homes sales in the Lake Oconee area continue to increase, with 740 closed sales through November 2014, compared to 685 the year prior - an increase of 8%, and ahead of 2007 sales (generally taken as the top of the market)
The average sale price continues to rebound - currently $284,015 compared to $269,042 one year ago, but well below the $386,421 average recorded in 2007.
Inventory levels continue to be high, especially in the higher price points. The average list price of the 970 homes currently on the market is a whopping $452,845.
What that means to you as a buyer or seller, is that you must pay attention to micro-trends. I define that as a very narrow range of property type and price-points - you'll find very different trend data depending on what you're looking at.
My advice is that you seek the counsel of a local market expert like me to help you develop a strategy for success.
If you've got a ... more

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