March 2008 Lake Lanier Real Estate Market Report

Our March 2008 Lake Lanier Real Estate Market Report is complete and ready for your review. During March, the market experienced a decrease in the number of lakefront homes with docks sold on Lake Lanier according to the statistics that we review in First Multiple Listing Service, as we compare them to March of 2007. The average sale price of the homes sold in March 2008 was down again slightly on a year over year basis when compared to March of 2007. This decrease was still minimal, especially when considering current Lake Lanier low water levels and general real estate market conditions. It is now starting to look as if the number of homes selling is trending less than in 2007. Closing prices have trended a little down in the last two months, indicating a possible correction in pricing as sellers compete with a huge amount of inventory for sale. The weather is starting to warm up and become more indicative of Spring, and this will hopefully translate into an upswing in the Lake Lanier real estate market, and a return to more normal selling conditions. As for now, conditions remain very favorable for well informed buyers to choose from a large amount of inventory and potentially motivated sellers. For all of the latest details and to see our full report, click on the link above!

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