How’s the market at Lake Oconee?
Lakefront home sales are UP!
After bottoming out at 55 sales in 2009, we’ve already sold 133 this year, and will likely triple the 2009 sales rate by year end.
Lake Oconee continues to be pricey – the average sold price for a lakefront home is above $650,000.
With 189 lakefront homes currently on the market, it continues to be a buyers market in most categories. The exception is newer homes on quality lots – there are always buyers ready to pay top dollar for the best properties.
Lakefront lot sales are flat – there have been 41 sold year to date, about even with the last 2 years. But with 175 private lakefront lots on the market, there is tremendous price pressure on sellers. The cream of the crop is selling – average sold price this year is an impressive $468K.
The Lake Country Board of Realtors serves a 6 county region covering Lakes Oconee and Sinclair, plus historic Madison and the surrounding area – its much more than lakefront!
Overall sales continue to climb – through the first 3 quarters closed volume is up 20% year over year. That continues the steady gains we’ve seen since 2012.
Contact me if you'd like to know more about market conditions for the property you're thinking about buying or selling in Georgia's Lake Country.