Lake Sinclair August 2015 real estate market... roller coaster

Well there is bad news and other bad news, but it's not the worst news.

The market has slowed down.  We were down to 24 sales for the month of August.  

So even though it was down a good bit from last month, we're still well above the same time for August of 2014. It's really just a typical seasonal drop off.  When kids head back to school and folks stop coming to see friends on the weekend we slow down a bit. We still get buyers who are looking for a permanent home on Lake Sinclair, but we tend to have a few less weekend home seekers until right after Christmas. 

Ah the days on the market.  Ugh.  I guess at some eventual point we will stop seeing HUGE number of homes that have been on the market since the Beetles invaded America.  Seriously in August a waterfront condo closed that had been on the market for 1784 days. Zero price reductions.  Yes, I did type 1784 days.  Not kidding. There were two with over 900 days and another with over 400 days. So the average of 293 seems pretty good in light of that. The low DOM was 11.  Guess it was priced right and marketed well.  Hopefully we'll see that number get back into a normal range in the next year or so.

And then we had price...

Yes it dropped over last month. The drop was however very slight for an average sales price on waterfront homes of $225,833.  Site built homes had an average price per sq. ft of $144 while manufactured homes average price per sq. ft. of $90.  The average price was also down from the same month last year. You can look at the chart and tell that what I predicted when it was clear that 2012 was the bottom that our climb back up was going to be a roller coaster with ups and downs and a slow steady rise.  I expect little bumps for the next six months as well.  I think we'll get a price boost late winter and early spring. (I will remind you I said this when it happens too). 

You lake house on Lake Sinclair can sell in the fall and winter months.  Last December we had 20 closings.  We're expecting sunshine and a high of 88 on Saturday, that means we'll have lake traffic. There is currently 5 waterfront pending contracts and one more short sale that should be close to an answer (I know how long the buyers have been waiting) and I also sent an offer I am SURE will be accepted on a water front listing today. (will close in October).  Call us, we can help you too.

 

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Comment balloon 7 commentsTammy Lankford, • September 16 2015 01:25PM

Comments

Tammy awesome market report. I love your twist on what's happening. You make it fun to read and follow along. Did I mention funny!!  Really good stuff. You are the expert in anything to do with Real Estate in Lake Sinclair GA.

Posted by Anna Banana Kruchten CRB, CRS 602-380-4886, Arizona's Top Banana! (Phoenix Property Shoppe) almost 3 years ago

Tammy Lankford This is one of the most straight forward market report ever.  Kudos!

Posted by Mary Yonkers, Erie/PA Real Estate Instructor (Alan Kells School of Real Estate/Howard Hanna Real Estate) almost 3 years ago

Anna Banana Kruchten our market has been so different from any other I've followed or read about.  We were much slower to begin the decline in value, it lasted longer, and we certainly were flat for a while and very slow to start a tiny little climb.  I should stop making predictions before I'm wrong, but so far, spot on.

Mary Yonkers the truth, the whole truth and nothing but the truth.

Posted by Tammy Lankford,, Broker GA Lake Sinclair/Eatonton/Milledgeville (Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668) almost 3 years ago

Hi Tammy Lankford , Unfortunately, it seems to be a roller coaster around here too.

Posted by Larry Johnston, Broker,Friends & Neighbors Real Estate, Elkhart,IN (Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC) almost 3 years ago

Larry Johnston I guess we'll get to stable one of these days eh?  I know sellers would be happy.

Posted by Tammy Lankford,, Broker GA Lake Sinclair/Eatonton/Milledgeville (Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668) almost 3 years ago

Tammy Lankford, I can see why this post received so much interest, I love the fun twist, this one is not boring at all!

Posted by Beth Atalay, Cam Realty of Clermont FL (Cam Realty and Property Management) almost 3 years ago

Home buyers and sellers in the area will appreciate the report.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) almost 3 years ago

Participate