Real Estate Market Overview in and Around Lake Oconee
Are you in the market for buying or selling a new home? Consider yourself wise if you are looking in the Lake Oconee area. Based on compelling facts from the Atlanta Board of Realtors and the Georgia MLS, we’ve found that the real estate market in our location continues to be strong.
Harbor Club home sales
Harbor Club is the leader in number of closings with an average price point of around $600,000. The community also sells at the highest price per foot at $179. Considering a few of our neighboring communities, such as Reynolds Lake Oconee, selling at higher price points Harbor Club offers attainable luxury coupled with a laidback lifestyle.
What this means for buyers: Whether buyers wish to invest in a Harbor Club home for the long-term or a shorter period, Harbor Club real estate represents an excellent value.
What this means for sellers: Due to the average price point, a Harbor Club home is appealing to a larger segment of buyers when it is time to sell. This is especially true from a per square foot standpoint.
Single-family home sales price
Nearby metro Atlanta has been experiencing rising sales prices in real estate — around $358,000 on average this past summer, which represents an increase of 6.5% over last year. Closer to home, the average sales price in Greene and Putnam Counties is currently higher than that of Atlanta, at $389,926. Also, while the average home size decreased to just under 2500 square feet, the sales price increased to $160 per square foot, on average.
What this means for buyers: Buyers should not delay purchasing a home. Looking at the trends, the longer they wait, the higher the price they’ll pay per square foot.
What this means for sellers: Sellers continue to receive a healthy return on home investments in the Lake Country area.
Single-family home square footage
Size matters. Over half the single-family homes sold in the past 12 months were in the 1000-2500 square-foot range. Interestingly, only 38% of current active listings fall within that size category. Homes larger than 2500 square feet will sell, but it will take a little longer.
What this means for buyers: Buyers who foresee selling in the near term will want to stick to a home purchase that falls within the 1000-2500 square foot size range. If they do, they’ll have an easier time selling since inventory is low.
What this means for sellers: Those who are considering selling a home that’s in the 1000-2500 square-foot size range may want to get it listed as soon as possible. Buyers are waiting.
To learn more about real estate listings at Harbor Club, take a look at our current listings. If you see something interesting or have questions real estate or our Southern Living-Inspired Community, feel free to contact us for more information.