Lake Oconee market report 2017 - we're baaaack!
By Jeanne Dufort, Madison and Lake Oconee GA
(Coldwell Banker Lake Country)
Georgia's Lake Country* market continued its five year rebound in 2017, with just over 1600 sales generating $479 million in volume - that's an increase of 26% in volume and 7% in units over 2016 - and more than 125% in units and volume compared to 2012! Five straight years of steady double digit increases have brought the market volume beyond 2004-2006 levels. Lakefront home sales soared, there were 191 single family homes sold last year, a big jump from the 163 sold last year. Average sold price also increased to $717K from $602K, higher than any year recorded except for 2008 - and when we look at the fact that the 112 homes currently available average over $1.1M in asking price - this indicates a lack of inventory at the lower price points causing some buyers to consider building a...