I am often asked the question "How is the real estate market?" More precisely, it is often a question as to the status of the Lake Lanier real estate market. And generally, this question refers to how homes are selling and what the market activity looks like for home sales.
In order to answer that question which is so often posed, I decided to take a look at historical sales activity of Lake Lanier homes as provided by FMLS. The simple chart shown below provides a detailed view of where we have been and where we might likely be going with regard to Lake Lanier home sales. The chart goes all the way back to 2007 and shows the annual home sales numbers for each year along with the average sales price. This is for waterfront homes on Lake Lanier. No other criterion was used.
As you can see in the chart, the number of Lake Lanier waterfront homes selling each year over the past couple of years has increased quite dramatically. On the other hand, pricing has not yet reached the peak seen in a number of years from 2007 through 2009. In some of those years, and possibly some of the earlier years like 2005 and 2006, average waterfront home prices on Lake Lanier exceeded $600,000! I like to think of those years as the "heyday" for Lake Lanier home sales! Have we return to those glory days? Well, from a pricing standpoint, not quite yet. But obviously, from the number of home sales annually, things are progressing quite nicely. Add to that, the fact that inventory is very low, and we might just see higher prices in 2016. If in fact, we can get the stock market and world markets to settle down just a bit, and things in our domestic economy stay on course.
These are just a few of my thoughts and observations as we head into the Spring market.
Lake Sidney Lanier Homes is the most comprehensive online source for information on Lake Lanier homes for sale and Lake Lanier area real estate. View the latest Lake Lanier home listings, foreclosures, lots, land, sales trends and real estate topics on Lake Lanier. Arthur Prescott is an Accredited Buyer's Representative and Certified Residential Specialist with Berkshire Hathaway HomeServices Georgia Properties. He has over a decade of Lake Lanier real estate experience. If you would like to schedule a free buyer or seller consultation, please feel free to contact us directly at www.LakeSidneyLanierHomes.com or 678-513-2014 or email us at Arthur.Prescott@BHHSGeorgia.com.
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