Year in Review/Market Update

2020YEAR-END REVIEW

LAKE OCONEE Year-end market update

Hoping this newsletter finds you in good health and good cheer as we approach the end of a very tumultuous 2020! Despite all the challenges we, along with all Americans, found new and innovative ways to fight through it and keep our economy prosperous. As always at this time of year, we want to stop and give thanks for living in the best county on earth and for the sacrifices of our military personnel who make that possible.

We participated in selling over $115,000,000 (a new record) of real estate in the Lake Country this year. And

for the 13th straight year, we will sell more real estate than any other individual agent or team of agents

in our market! Remember, we are often “copied” but never duplicated. Our unmatched success is due in large part to our great clients as well as our commitment to provide the best real estate services available. Our proven strategy to help our clients is based on 1) the most extensive knowledge of the market, 2) the highest possible customer service, and 3) the most aggressive and innovative marketing available. Our entire team is dedicated to our golden rule: treat our clients like we would want to be treated. We hope you will contact us whenever you have a real estate question or need and let us show you why we are #1 in our market.

Our market started this year on an upward trajectory. After an initial slow down when the pandemic started, we started receiving the largest influx of interested buyers in our history. Buyers began coming from all over the country and in particular from the cities as they saw this area to be a very attractive option to where they were living. In the midst of the pandemic, we found ways to stay safe and service these new residents. Now, as we approach the end of 2020, we are witnessing the results of the best market in Lake Oconee history. The average home price has gone above $400,000. Home sales and lot sales have skyrocketed. Housing inventory is at an all-time low (supply). And the high demand has caused the average amount sellers had to come off their asking price for properties to plummet to under 4%. In summary, the real estate market is extremely good. The sub-market numbers below are as of mid-December 2020.

YEAR TYPE OF PROPERTY #SOLD YEAR TYPE OF PROPERTY #SOLD

2019 Reynolds Homes 215 2019 Golf Community Lots 162 2020 Reynolds Homes 311 2020 Golf Community Lots 296 2019 Cuscowilla Homes 24 2019 Lakefront Lots 106 2020 Cuscowilla Homes 53 2020 Lakefront Lots 175 2019 Harbor Club Home 48 2019 Lakefront Homes 180 2020 Harbor Club Home 73 2020 Lakefront Homes 310

Because market reports and trends are most accurate when calculated over a period of time, we’ll be updating this information EVERY 6 MONTHS. Look for a new report in July, 2021. Until then, we’ll keep this information here for those of you who haven’t yet checked it out.

For property sellers, it is important to note that PROPERTY IS SELLING and DEMAND IS HIGH with a shortage of inventory (especially homes). THIS MAY BE YOUR BEST OPPORTUNITY TO SELL YOUR HOME FOR TOP DOLLAR IN THE NEXT FEW YEARS! The following are absolute essentials to help generate a sale for top $$$: 1) Market a realistic listing price - getting this wrong will cause your property to not get interest and “miss” this market. 2) Ensure your property is in the best possible condition. To get “top dollar” and serious buyer interest, every effort must be made to have your property give the best possible first impression. KIM IS KING at this and can often provide inexpensive suggestions that will make the difference in your property selling for top dollar or “sitting on the market”. Please stay in touch with us, or better yet, come visit us at our Greensboro office by Café 44 or our Eatonton office by Goodwill on HWY 44..

LAKE SINCLAIR Year-end market update

Our Lake Sinclair Real Estate market had an incredible 2020!

The following market update is derived from the Lake Sinclair Multiple Listing Service and includes Residential Properties, Land/Lots & Commercial properties only in Baldwin, Putnam and Hancock Counties. The Lake Sinclair Market has seen a 17% increase in sales from 2019. At the finish line of 2020, Real Estate Agents in the Lake Sinclair area participated in 1,138 Property Sales for a total sales volume of $209,862,455. This is compared to last year when Agents participated in 976 Sales for a total Volume of $ 179,622,481.

LAKEFRONT on Sinclair is STILL a bargain compared to our competitor lakes, making it very high demand. However, 2020 has revealed a 12.5% INCREASE in an average price for a lake home on Sinclair compared to 2019 ( $ 306,285 in 2019 to $ 344,478 in 2020 ) Average Days on market decreased to 96 days VS the 120 days in 2019. List to Sales Price has remained about the same at 96%.

So, inside of a COVID-19 Worldwide Pandemic , our Lake Country has seen one of it’s strongest years ever! Realtors reported a bigger “buyer” demand than ever before, and a shortage of inventory available. THE TIME TO LIST YOUR PROPERTY IS NOW.

The Kim & Lin Logan Real Estate Team is proud to remain the #1 Team in the Lake Country! Selling the Lifestyle at Lake Sinclair & Lake Oconee is WHAT WE DO BEST! Our company continues to succeed with our proven strategy #1.) Agents with LOCAL knowledge #2.) The highest possible customer service - JUST READ OUR REVIEWS! , and #3.) the MOST AGGRESSIVE and innovative marketing available.