Well we are seeing a traditional slow down that we see around the holidays at Lake Sinclair. Most of our market is second/vacation homes and folks aren't typically shopping for homes to put under the tree. But hey, if you want to be extravagant this year call me and I'm sure I can help you find the perfect home and wouldn't a wrapped up deed be great in a pretty box under the tree?
10 homes closed on Lake Sinclair in November. That's down from October by 3, but still one more than closed in November of 2012 and 4 more than 2011. December seems to be quite sluggish as well. We do have a few under contract, but only one lake home scheduled to close this month. Of course I can be surprised.
While we dropped a bit below the high for the year which occurred in October it's so far over what the average price was at below $200,000 in January. So I'll certainly take $285,110. We're begining to see more and more homes over $500,000 list price begin to sell and that's good for our local market.
The bad news... while it's not approaching the high of nearly 400 days on the market, the average creeping back up to 305 average days on the market is bad. Of course the low was 12 and the high was 915. So apparently if you price right, 12 days is enough. If you started $100,000 too high it's gonna take a while.
We currently have 280 active listings on Lake Sinclair which means we have a 28 month supply. We won't get back to a normal market until that number reaches about 6 to 8. Until then buyers are still getting bargains. Not steals anymore, but bargains. Look for a mid month snippit report soon. As always about 10 days in I will do a full market report on the Lake Sinclair home sales.
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