Lake Sinclair October 2015 market report- looking up

By
Real Estate Broker/Owner with Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 GREC# 169695

It feels like our summer season lasted a bit longer than usual this year. We had a wonderful month of closings right through October. With that said I'll get to the best news first. 

 

 

We had 32 residential closings on Lake Sinclair in October.  Sales prices ranged from $75,000 to $545,000 with an average of $117/ sq. ft.  At the current rate of absorption we only have an 8 month supply. We have not been that close to a stable market in 6 years. Hopefully it will continue to move in that direction. 

 

 

In the price department we're moving in the right direction.  It's a very slow pace, but at least prices are going up.  Of course if you are a buyer what this means is that you will want to buy soon, before prices and/or interest rates move too much. The average sales price for a Lake Sinclair residential property was $222,878 for October.  Up more than $4,000. and $15.00/ sq. ft.

 

 

The days on the market were down.  A stable market is about an average of 90 days on the market. The residential sales in October that closed had an average of 146 days on the market. As you tell from the chart that is way down from highs over the last few years. That's the 3rd lowest average we've had all year.  Hopefully this too will continue to move in the right direction.

 

The good news for year to date is the number sold.  

2104- 170 residential Lake Sinclair home sales January to December.

2015- 220 residential Lake Sinclair home sales from January to October.

Posted by

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Tammy@Lake-Sinclair.com

(Click on Lane Realty Logo for web site)

Tammy Lankford, Broker/Owner

 

Broker License # 169695  Lane Realty License # H-11420

Real Estate Instructor License # 355089

Call me today for all your Lake Sinclair real estate needs.

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Comments (9)

Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Tammy Lankford  Nice market report on Lake Sinclair

Nov 17, 2015 12:27 PM
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

Hi Tammy you have done a fine job on your Lake Sinclair October 2015 market report. Excellent data that is presented well.

Nov 17, 2015 12:49 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Tammy close to stable market is a good sign, take advantage of it while you can, Endre

Nov 17, 2015 01:23 PM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Tammy. With you on the job, the market will continue to stabilize! Enjoy the journey!

Nov 17, 2015 07:33 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Home buyers and sellers in the area will appreciate this information.

Nov 17, 2015 08:24 PM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

What a great market you are having this year. It has to feel good.

Nov 17, 2015 11:21 PM
Jim Crawford
Maximum One Executive REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

Thank you for sharing this insightful real estate market report! This is great information for buyers and sellers alike!

Nov 17, 2015 11:31 PM
Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

Looks like the market is going strong in your area.  Great News!

Nov 18, 2015 04:39 AM
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

Hi Tammy Lankford ,  That is good news!  Everything has been down for so long that it is a welcome relief to see an upwrd trend.

Nov 18, 2015 10:10 AM