First the good news! Our data shows that 13 waterfront lots with dock/dock permits on Lake Lanier sold in 2012. That is a big jump in the number of sales when compared to 2011 which saw only 6 sales. In addition, there were quite a few "non-distressed" sales and sales prices reached as high as $495,000 for a .63 acre property with a gentle topography, great view and a covered double slip dock!
Now for the "so-so" news, or rather not great news but not bad news. It appears that the average sales price of the lot sales dropped slightly in 2012 compared to 2011. The average sales price in 2011 was $179,666 compared to 2012 which came in slightly less at $164,915. Total days on market for lots in 2012 averaged 389, so if you are trying to sell, it pays to wait it out for at least one year of solid marketing in order to reach the closing table.
So there you have it! We like the feel of the market as sales are increasing in the number of transactions with more buyers out looking. Prices were slightly soft, but did not correct downward too much. As we look forward to 2013, we see the improving trend continuing with more good news on the way. The lake water level is already climbing and is pretty high for February. We may indeed see a strong upswing if the weather warms up and the lake stays full of water for the Spring market. Stay tuned for more details!
Lake Lanier Waterfront Lot Sales Analysis 2012
Lake Lanier Waterfront Lot Sales 2012
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 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 678-513-2014 or email us at APrescott@PrudentialGeorgia.com.
