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A mid-year snapshot of lake home sales

(click for larger version)
July 19, 2013
In February I asked a question in an article titled "Will Waters Rise Lift Home Sales on Lake Lanier"

At the time the lake was five feet below full pool.

With the lake having been at or above full pool for the past three months, during a time when the lake level traditionally drops, I thought it would be worth a look at what the first half of this year has been like for lake home sales.

In that past article, I referenced the median sales price for all lake Lanier home sales in 2012, it was $410,000. Looking at this year, it appears as though we're seeing some movement to the upside.

That said, home sales are still flat and inventory remains relatively high.

But there is good news.

In that elevated inventory are a high number of affordable lake homes. For this I used homes listed under $400,000.

There is a great opportunity for anyone considering a second home, weekender or a primary residence on the lake at a great price. Over 30 percent of all lake listings fall into this affordable category.

Why are there so many low priced lake homes available?

Two words: Google Earth.

Buyers are still looking at satellite shots from the drought and worry what the future may bring.

But for those who understand that the lake level will fluctuate and can live with it, it's a good time to be a buyer.

Bob Strader is a local realtor with the NORTH Group of Keller Williams Realty. Visit his blogs or or email him:

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Bob Strader is a local realtor with the NORTH Group of Keller Williams Realty. Visit his blogs or or email him:
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