Starting with the bad news first, as you can see the average price for Lake Sinclair waterfront single family homes is back under $200,000. So that means sellers are having to sell for much less than they want if they want to sell in the market today. There were a couple of foreclosers averaged into this, and they are becoming few and far between on water so that's our glimmer of hope for getting prices to rise again. Of course buyers are delighted with this news and excited to be able to get a home on water for under 200.000. But let's be realistic folks, they are going to be a fixer at that price, not move in ready.
The number sold while down from December was pretty good. We tied the best January in the past 5 years of data. I'm not sure we're going to get to 9 to tie in February, but time will tell. There are currently 281 single family homes for sale on Lake Sinclair. That puts us at 25 months of inventory which is high and makes it a buyers market, BUT it's is much less than I've been reporting the past few years. But number sold has been trending is a postive direction for a while.
Other good news is the days on the market average being 133. It's only lower on 7 other months in the last 60 months. So that also is heading in the right direction for a stable market which in our area has always been a bit higher at about 90 days on the market. It was the best January number in the past 5 years and really good for winter in our area.
Looking for a home on Lake Sinclair? Check out website Lake-Sinclair.com to see what we have on the market or sign up for search if you don't have an agent and would like to work with us to help you find a home on Lake Sinclair.
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Tammy Lankford, Broker/Owner
Broker License # 169695 Lane Realty License # H-11420
Call me today for all your Lake Sinclair real estate needs.
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