by Teresa Smith –
It is always so enlightening to compare Lake Lanier sales year over year. This is especially true over the past 2 years. A couple of tidbits that you may find interesting is the average list price in 2022 was $1,118,132. The average sale price was $1,081,707. The price range to arrive at these numbers was lake homes with docks priced between $600,000-$2,000,000 sold in 2022.
In 2021, Q3 reported 55 sales at an average of 98.8% list/sale price. In Q4 of 2021, 66 sales were reported at 97.3% list/sales price. Jumping to Q3 and Q4 of 2022, we can certainly see that sales have dropped. Q3 reported 54 sales at 96.8% list/sale price and Q4 reported only 34 sales 95.6% list to sale price.
We attribute this to several factors. Many folks that may want to sell, don’t have anywhere to go, interest rates, and the economy in general. We are in a very low inventory situation for lake homes at this date and time. We have many buyers looking for lake properties. If we put these 2 together, buyers who are looking for a lake home shouldn’t expect a ‘deal’. Sellers may be thrilled as it is still a seller’s market. With increased activity as Spring approaches, we all hope for a very busy lake season!
To get access to more information about buying or selling homes around Lake Lanier, just sign up for our newsletter below.