May 2008 Lake Lanier Real Estate Market Report

Our May 2008 Lake Lanier Real Estate Market Report is complete and ready for your review. During May, 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 May of 2007. The average sale price of the homes sold in May 2008 was down again on a year over year basis when compared to May of 2007. This decrease was note worthy, especially when considering current Lake Lanier low water levels and general real estate market conditions. It continues to appear that the number of homes selling is trending less than in 2007. However, for the first six months of 2008, we see closing prices that have trended about the same as in 2007. This may be indicating that a possible correction is not yet upon us, even though sellers are competing with a huge amount of inventory for sale. 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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