Lake Sinclair 2017 first quarter look at the real estate market

In the first three months of 2016 32 homes sold on Lake Sinclair in the Milledgeville/Lake Sinclair MLS and I'm happy to report a serious upswing for the first three months of 2017.

As you can see March outpaced the past 5 years in sales. In fact in the first quarter data for the past 5 years only one month had a better same period number and that was February 2013 had 15 sales over February 2017 having 14 sales. But it's a delightful start to sales on Lake Sinclair putting us currently with just over 7 months of inventory.  That's the lowest amount of inventory we've had in the 9 years I've been keeping this data.

Price however is not yet off the roller coaster. We've had ups and downs. However the first three months of 2017 were higher than the first three months of 2016 but not by a significant margin. The most recent month data shows an average sales price of $222,438. for waterfront homes on Lake Sinclair. But the good news for sellers is that inventory falling will likely result in prices starting to move upward as opposed to the bumpy ride we've had since December 2012 which was the lowest average sales price in the past 9 years.

Also good news for sellers is a decline of DOM in March. The average days on the market dropped to 124 from 186 back in February. Just maybe with some of the quick pendings I'm seeing in the market right now this will continue to drop which will make sellers happy.  Buyers however, this means you can't wait to come see that new house that hits the market or go home and talk about it if you think you found "the one". You're going to have to be ready to move fast if the house that fits your needs comes on the market.

 

 

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Tammy Lankford, Broker/Owner

 

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Comment balloon 4 commentsTammy Lankford, • April 08 2017 07:54PM
Lake Sinclair 2017 first quarter look at the real estate market
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