Here’s some sale statistics for “dockable” waterfront Homes and Lots on Lake Lanier so far in 2008 (source: FMLS and does not include FSBO and non FMLS listed properties):
 
Waterfront Homes Sold (does not include Condos/Townhouses) – 42
            Average Days on the Market – 100
            Average List Price - $685,751
            Average Sale Price - $609,952
            Sale Price vs. List Price – 88.9%
             Pending Sales - 17
            
 
                        Note: Most expensive Home sold for $1,650,000
                                   Least expensive Home sold for $169,900         
 
Waterfront Lots Sold – 1
            Average Days on the Market – 177
            Average List Price - $260,000
            Average Sale Price - $200,000
            Sale Price vs. List Price – 76.9%
             Pending Sales - 1
 
Please email me at sayjay@bellsouth.net if you would like to see the actual properties that were sold.
 
It’s very apparent that Buyers are still watching the housing market and waiting to see where the bottom is. The good news for Buyers …. the lake level is rising, lake property inventory is climbing, interest rates are still low, and Sellers are starting to realize that if they want to sell then they need to be realistic on price. All we need now is three things ….. some more rain, rain and more rain.
By Jay Hufnagel, Keller Williams Realty, Lake and Home Group, 770-757-2799