Market report: Oconee Lakefront home trends in 2023

By
Real Estate Agent with Coldwell Banker Lake Country 284620

What does “inside the gates” mean at Lake Oconee?

Real estate market trends are quite different, depending on whether you’re considering properties in one of our gated golf communities or not.

“Inside the gates” at Lake Oconee you’ll find world class amenities and a host of manicured golf courses. Mandatory fees for POA and club dues will be a consideration. Plans are offered with options that include more (or less) access to golfing.

The gated communities are clustered in the center of the lake – with restaurants, shops, banks, and healthcare services just a short drive away.

Property values “insider the gates” at Lake Oconee are consistently higher, and you’ll find homes that are larger and include more elaborate outside amenities including outdoor kitchens and beautiful pools.

Let’s take a look at the trends so far in 2023

Inside the gates

Homes sold YTD        24

Median sold price   $2,097,826

Days on market          97

Homes for sale           34

Median list price    $3,195,000

Here’s an example of a home that sold this year in the median price range of $2.1M.

Custom home in Reynolds Lake Oconee on a rare 4.4ac private estate lot, walking distance to the Ritz Carlton Lodge and Lake Club. 5BR/4.5BA (2006) with 5100sf. Fresh interior updates. The lot is in the back of a cove, so water depth and lake view are limited.

 

“Outside the gates” covers a wide range of properties, neighborhoods, and locations – Lake Oconee has nearly 20,000 acres of surface, and 374 miles of shoreline.

The quiet north end of the lake (north of I-20) features thousands of acres of national forest and the water can be more river like. I call it the “On Golden Pond” Lake Oconee experience, and it’s attractive for those who enjoy quiet boating – like kayaking and fishing – and birding.  I’ve made my home on the northern end of Oconee since 2002

There are three counties with shoreline on Oconee, and we often look at them individually – because of differences in property taxes and short term rental policies.

Outside the gates                   Greene              Putnam            Morgan

Homes sold YTD                        16                      21                     4

Median sold price                 $827,500           $995,000           $975,000

Days on market                          51                     122                   40

Homes for sale                           10                       9                      1

Median list price                  $1,692,500         $1,499,000        $2,090,000

 

As you may have guessed – Morgan County has the least shoreline on Oconee.  Statistics for Morgan will vary quite a bit, depending on which properties have sold.

Putnam County is the only county still issuing new permits to operate Short Term Rentals – and currently is in a moratorium until July 18, while Commissioners consider changing their ordinance. Greene County does have some lakehomes offering short term rentals – those owners were grandfathered in when the county restricted short term rentals in December 2018.

Here’s an example of what $1M will buy you “outside the gates” on Lake Oconee this year.

Located in the popular Long Island south end of the lake, where the water is clear and the fishing is terrific, this 5BR/3BA home (1993) has 3500sf in a modified A-frame with master on the main. 200ft of private frontage, huge view, and deep water (10ft!) make this a premium lot.

When you are considering choosing a home on Lake Oconee, its best to work with a local market expert. I’ve been living on and selling properties at Lake Oconee (and Lake Sinclair) since 2005. I work at your pace, and bring a wealth of knowledge that can help you have confidence in your decision.

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facebook horse-and-home-georgia  Jeanne Dufort on Zillow

 Are you thinking dreaming about a place that will nuture your soul, bring your family together, or give you a chance to give back?  Whatever your dream, I'm committed to helping you explore how Georgia's Lake Country fits in. Located midway between Atlanta and Augusta, the lake country offers two recreational lakes, plus wonderful historic small towns with a commitment to sustainable agriculture. Lets talk.

Jeanne Dufort

2010 Realtor of  the Year

Lake Country Board of Realtors

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Comments (3)

Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

Great overview of this area - the northern area sounds more like my speed!

Jun 13, 2023 04:49 AM
Jeanne Dufort

Thanks - it's my happy place!

Jun 13, 2023 11:46 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Jeanne,

I love your featured photo! So relaxing and quiet! Thank you for an excellent overview of your area!

Jun 13, 2023 05:14 AM
Jeanne Dufort

Thanks. Lakes are complicated - sometimes the lots are worth more than the home! It does take an expert to sort it out.

Jun 13, 2023 11:47 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Jeanne Dufort this is good information for both Buyers and Sellers in your area.

Jun 13, 2023 09:14 AM
Jeanne Dufort

Thanks, George

Jun 13, 2023 11:47 AM