February is finally here after a very very long January. Aren’t we glad we are not in Chicago!! The demand for lakefront property continues even in the midst of winter. Three lake properties sold in January and The Lake Team was involved in two of the sales. Eight properties are under contract on Burton and Rabun and should close in the next 30 days. It appears that buyers are coming out even earlier this year in search of the limited lake properties due to a lower than usual inventory.
With the recent rains, believe it or not, the lake is back at the full pool, and many docks and seawall projects will be delayed for another year. The Lake Burton market is off to a good start with two closed properties and seven pending sales. The shortage of prime properties will again continue to be a challenge in 2019. There is a plethora of +$2 million properties on the market and a dearth of $1 million properties for sale. The most popular price point is in the $900k to $1.4 million range. Be on the lookout for a couple of new Lake Team listings in the next 30 days.
After an excellent 2018 sales year, 2019 has also started well. One property has sold, and one is pending for sale. Buyers are continuing to scour the lake inventory for purchases, and the shortage of properties for sale is hindering that search. With an almost historically short list of lake homes for sale, the days on the market is dropping, and prices are holding well. The Lake Team should have a few new listings on Lake Rabun in the coming months.
2018 was the overall best year for Seed Lake, and one can only believe that 2019 will follow in that same path. The values and uniqueness of Seed Lake are continuing to attract more buyers every year.