2018 Lake Lanier Real Estate Report by Sheila Davis Sheila Davis 770.235.6907
Lead agent for LakeLaniersFinest.com 770.235.6907
“The Lake Lanier real estate market had a strong performance in 2018. With a booming regional economy, Buyer demand high, a full lake, and a 3rd year of historically low inventory, 2018 favored Sellers.” Sheila Davis, Norton Agency, “Lake Lanier’s Finest” Real Estate Group
2018 SALES PERFORMANCE:
Lake Lanier Homes Sales price Average 10 years
375 Lake Lanier homes sold in 2018 with private docks or boat slip options, up 9% from 2017. Although Buyer traffic was high, many Buyers were not able to find a home fitting their needs or price in 2018 due to low inventory. We are seeing buyer demand high this winter and expect a busy first quarter heading into 2019. High lake levels usually mean high sales on Lanier. We entered 2018 with lake levels at 1066, and by summer the levels were 1072 and have remained high all year.
The average sales price was $605,000 slightly better than 2017.
Lake homes under $500,000 still remain hot with a 12% increase in sales in 2018. We are still seeing multiple offers in some cases with homes in pristine condition, views and deep water docks.
9% more homes sold priced $500,000-$800,000 in 2018.
The average list to sales price ratio was 96.1%, and closer to 98% in homes under $500,000.
Inventory remained historically low with under 200 homes for sale for the 3rd straight year.
The average Days on Market was 83 compared to 97 in 2017. The best months for CLOSED SALES were March, May and July.
In 2018 the Average list price/Sq Ft ratio was $215.
Sellers take note that MARCH is a great month to SELL! Those who list first quarter can sell quickly with less competition and enjoy the full selling season. The lake views look better, too!
Sheila Davis Real Estate Group Lake Lanier | Luxury | Estate
770.235.6907
LakeLaniersFinest.com Copyright December 2018, The Sheila Davis Group, The Norton Agency, 770.235.6907 www.LakeLaniersFinest.com Statistics were pulled from the First Multiple Listing Service
2018 Lake Lanier Real Estate Report by Sheila Davis Lead agent for LakeLaniersFinest.com 770.235.6907 Average number of Days on Market
Sales by Price Point Last Three Years
LUXURY LAKE HEATS UP IN 2018: The highest priced home sold in 2018 was $2,300,000 compared to 2017 $2,000,000. 33 homes sold over $1,000,000 vs 21 homes sold in 2017, a 57% increase! The average million dollar home listed for $1,325,000, up 2% from a year ago, and sold for $1,293,000 vs last year’s $1,300,000.
42% of luxury homes had swimming pools and the majority had outdoor living spaces such as screened patios, outdoor kitchens, and/or custom built stone fireplaces and hot tubs. The Lanier Luxury market consisting of lake homes $800,000 and above, was white hot with 69 sales compared to 49 sales in 2017, a 40%increase. Luxury lake is a small niche of only 18% of the total lake market. 75% of luxury lake homes and 60% of total lake homes are SOLD by local Lake Lanier Specialists who are living in our area with local knowledge and connections to help your sale go more smoothly.
2019 MARKET PREDICTIONS With high lake levels, a strong regional economy and Buyer activity high, 2019 should be another good year for lake sales. We are seeing more Buyers from out of state than in years past. As interest rates climb we expect Buyers to jump in early to beat the rate increases. Sellers should not delay listing their homes this year. As a Seller, be sure to hire an experienced Lake Lanier Realtor to insure your property is prepared, priced correctly and marketed in it’s best light. As a Buyer, an experienced lake Realtor can guide you through the process of choosing a location, home & lot to fit your needs, understanding docks, the USACE process, & lake home pricing, and to give assistance with septic systems, inspectors and contractors. Copyright December 2018, The Sheila Davis Group, The Norton Agency, 770.235.6907 www.LakeLaniersFinest.com Statistics were pulled from the First Multiple Listing Service