Lake Sinclair September 2015 market report, up or down?

Well it's a variety actually. There is so so news, good news and bad news.  Let's start with the bad news.

For the third straight month price has fallen again as an average. The September average for a waterfront home sale was $218,689. The good news is that some smaller homes sold because the average price per square foot was up to $161. from $130 the previous month. So while prices remain pretty flat, we are making a little headway in other areas that will eventually lead to some price increases which I expect to see next spring.

The days on market is slightly down from the previous month, but still high at an average of 209. The low days on the market were 33 for September, while the high was 1204. I think that inventory will have to get back to a 6 month status to see these numbers drop back below 90 where a stable market would be.

And now for the GREAT news. Another 21 homes on Lake Sinclair closed in the month of September. That's higher than the same month for the past three years. We have 269 homes currently on the market and that puts inventory at a 12.8 month supply. Lots of inventory is a great thing for buyers and not so much for those wanting to sell. Prices are being held in place by so much inventory on the market.

The best news is that in all of 2014 we had 177 home sales on Lake Sinclair and to date in 2015 we have already had 208. We still have a full quarter to go.

Would you like to get the Lake Sinclair market report emailed to you monthly? I'd be happy to do that if you'll just send me an email  that says "send market report" in the subject line to tammyrealty@bellsouth.net

 

 

706-485-9668  us on facebook

Tammy@Lake-Sinclair.com

Follow me on Google Plus for more information about Lake Sinclair and surrounding area news and events

(Click on Lane Realty Logo for web site)

Tammy Lankford, Broker/Owner

 

Broker License # 169695  Lane Realty License # H-11420

Call me today for all your Lake Sinclair real estate needs.

Subscribe to my Blog here!

 

We always have water at lake sinclair Lake Sinclair stays full even during droughts.  Click to read why and how.

 Search for homes on Lake Sinclair now

For readers who are not members of ActiveRain feel free to also add your comments or you can click on the EMAIL me link to the right of this blog and email me.  Thanks for reading.

All content belongs to me unless otherwise stated.  Do not use without permission.  Logos and photographs may also be copyright registered. Please do not use without my express written permission.

                                                                                                                  

          

Comment balloon 4 commentsTammy Lankford, • October 18 2015 12:23PM

Comments

Hi Tammy -- I think your post title brings up a common question that people looking at market updates  want to know.  Your detailed report for Lake Sinclair real estate shows you as a valuable and knowledgeable source of information.

Nicely done.

Posted by Michael Jacobs, Los Angeles Pasadena Area Real Estate 818.516.4393 (Coldwell Banker Residential Brokerage) about 2 years ago

Let me put "Ditto" marks under Michael Jacobs comment.  Good job, Tammy Lankford 

Posted by Mary Yonkers, Erie/PA Real Estate Instructor (Alan Kells School of Real Estate/Howard Hanna Real Estate) about 2 years ago

Hello Tammy,

I agree with Mary Yonkers, ditto on Michael Jacobs assessment of your fine report!

Posted by Lisa Von Domek, ....Experience Isn't Expensive.... It's Priceless! (Lisa Von Domek & Associates LLC Team) about 2 years ago

Very nice posting Tammy - always good to find out more about the different parts of the country and their markets

Posted by Lise Howe, Assoc. Broker and Attorney Licensed in DC, MD, VA, (Keller Williams Capital Properties) about 2 years ago

This blog does not allow anonymous comments