Market Update

Hot Start to the Year

Hot Start to the Year

In the last month, 29 lake homes have sold:
5    $1m+              4 of 5 within 3% of asking price
6    $600k - $1m     3 of 6 at asking price
10   $400k - $600k  5 of 10 at or over asking price
8    <$400k            7 of 8 within 95% of asking price

In that time, 15 vacant lake lots have sold:
5    over $200,000
5    $150k - $200k
5    < $150k

Currently there are 65 lake homes and 22 vacant lake lots under contract.

As of today, there are 62 active lake house listings on the market:
13    over $1m
12    $600k - $1m
13    $400k - $600k
18    < $400k

29 of the 62 active listngs are on lakes with a clarity of 10' or more.

There are 119 active vacant lake lot listings on the market:
40    over $200k
79    under $200k

Only 48 of the 119 active listings are on lakes with a clarity of 10' or more.

Is the market still hot?  Oh yeah.  All price ranges, all types of homes, all types of lakes. My advice to buyers remains the same - Make sure you're choosing the lakes that are best-suited for you and then carefully review those listings to see if it will work.  It's going to be tough to find a "deal" in this market so if you're going to be paying market rate for a property then you better make sure it's one that you'll be happy with no matter what the market does going forward.

Working with a Buyers Agent can be helpful in this market if...
- You are unfamiliar with the different lakes/areas and need help focusing your search
- You don't have time to pour over the details of every listing
- You don't want to miss a small window of opportunity to pursue a new listing

Contact me if I can help you in any way. I'd love to work with you.