Lake Home Market Statistics 1-06-09
Lake homes Sold the last 4 years
Below are charts and graphs showing Lake Country lake home stats over the past couple of years. This 1st chart compares number of lake homes sold per year on the selected lakes. The numbers show that last year there was a significant drop off on lake homes sold on each lake (besides Pine). Overall, there was a 54% decrease in the total number of lake homes sold on the five major Lake Country Lakes. It also shows that half way through 09, only 14 lake homes have closed this year. JJ Hausmann and The Real Estate, Lake & Country, Inc will have sold 6 lake home properties and counting by 6-12-09 (around 40% of the total transactions).
Number of Homes Sold |
|||||
2005 |
2006 |
2007 |
2008 |
1/09-6/09 |
|
29 |
26 |
29 |
17 |
5 |
|
15 |
8 |
13 |
4 |
3 |
|
35 |
23 |
35 |
20 |
3 |
|
13 |
7 |
9 |
3 |
3 |
|
Pine |
0 |
10 |
1 |
3 |
0 |
Total |
92 |
74 |
87 |
47 |
14 |
The numbers below take a closer look at the average sale on each lake over the past couple of years. These numbers can get inflated very easy, with a couple of 2 million dollar sales. It shows the average selling price has remained consistent, until this year. It represents less high end sales YTD.
Average Selling Price |
|||||
2005 |
2006 |
2007 |
2008 |
1/09-6/09 |
|
$833,041 |
$924,546 |
$1,074,691 |
$868,007 |
$697,125 |
|
$639,046 |
$1,230,588 |
$857,461 |
$780,550 |
$1,516,000 |
|
$726,043 |
$757,543 |
$868,809 |
$742,496 |
$582,900 |
|
$1,241,620 |
$1,479,750 |
$1,360,488 |
$1,187,667 |
$741,267 |
|
Pine |
NA |
$2,709,390 |
$2,550,000 |
$2,416,300 |
NA |
Total Average |
$859,938 |
$1,420,363 |
$1,342,290 |
$1,199,004 |
$884,323 |
Below the chart shows what sellers are accepting relative to their list price. The last two years show that sellers have been taking 2-4% less, relative to their list price. These numbers do not tell the whole truth, because several of these properties reduced their list price before getting their property sold. What it does indicate is that in order to get buyers to submit offers the list price has to be within 10% of the true market value of the property. If the buyer feels the price is too high they will move onto the next property, as there is not a shortage of inventory currently on the market.
List/Sale Price |
|||||
2005-2006 |
2006-2007 |
2007 |
2008 |
1/09-6/09 |
|
96% |
94% |
94% |
89% |
89% |
|
94% |
95% |
91% |
95% |
89% |
|
96% |
96% |
97% |
92% |
95% |
|
94% |
93% |
93% |
89% |
93% |
|
Pine |
NA |
92% |
77% |
89% |
NA |
Comments(0)