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Sales of lake homes on Lanier have been flat this year, but with high sales prices and more homes over $1M selling, the average sales price is
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Welcome to our blog, we’re glad you’re here. If you’re new to liveincumming.com, sign-up for our e-Newsletter to get our posts delivered to your inbox monthly. Or, subscribe to the RSS feed in your browser.
Sales of lake homes on Lanier have been flat this year, but with high sales prices and more homes over $1M selling, the average sales price is inching up.
Comparing sales for the first half of 2012 to the same period last year, the number of lake homes remained unchanged. The good news can be found with list prices and sales prices. Take a look at the numbers:
List prices increased driving an increase in average sales price by 6%. This is mostly due to high priced luxury lake homes. What isn’t reflected in the chart is that in 2011 there were six homes listed for over $1M that all sold for under $1M. So far this year, however, there have been seven homes listed for over $1M, five of those with sales prices over that amount.
If we took those luxury lake home sales out, the average sale price would have dropped. None the less, it’s a very good sign that wealthy buyers are jumping in to the luxury lake market for primary and second homes.
Finally, distressed sales dropped 25%. Look for this number to accelerate it’s decline as the lake market continues to recover.