2020 Holiday Newsletter & Market Update

Hoping this newsletter finds you in good health and good cheer as we approach the end of a very tumultuous 2020!  Despite all the challenges we, along with all Americans, found new and innovative ways to fight through it and keep our economy prosperous.  As always at this time of yearwe want to stop and give thanks for living in the best county on earth and for the sacrifices of our military personnel who make that possible.   


We participated in selling over $115,000,000 (a new record) of real estate in the Lake Country this year. And for the 13th straight year, we will sell more real estate than any other individual agent or team of agents in our market!  Remember, we are often “copied” but never duplicated.  Our unmatched success is due in large part to our great clients as well as our commitment to provide the best real estate services available. Our proven strategy to help our clients is based on 1) the most extensive knowledge of the market, 2) the highest possible customer service, and 3) the most aggressive and innovative marketing available Our entire team is dedicated to our golden rule:  treat our clients like we would want to be treated.  We hope you will contact us whenever you have a real estate question or need and let us show you why we are #1 in our market. 
 
Our market started this year on an upward trajectory.  After an initial slow down when the pandemic started, we started receiving the largest influx of interested buyers in our history.  Buyers began coming from all over the country and in particular from the cities as they saw this area to be a very attractive option to where they were living.  In the midst of the pandemic, we found ways to stay safe and service these new residents.  Now, as we approach the end of 2020, we are witnessing the results of the best market in Lake Oconee history.  The average home price has gone above $400,000.  Home sales and lot sales have skyrocketed.  Housing inventory is at an all-time low (supply).  And the high demand has caused the average amount sellers had to come off their asking price for properties to plummet to under 4%.  In summary, the real estate market is extremely good.  The sub-market numbers below are as of mid-December 2020. 


YEAR   TYPE OF PROPERTY                                    #SOLD                                                     YEAR   TYPE OF PROPERTY             #SOLD 

201  Reynolds Homes                                              215                                                      2019   Golf Community Lots             162 

2020   Reynolds Homes                                              311                                                      2020   Golf Community Lots             296 

2019   Cuscowilla Homes                                             24                                                       2019   Lakefront Lots                         106 

2020   Cuscowilla Homes                                             53                                                       2020   Lakefront Lots                         175 

2019   Harbor Club Home                                            48                                                       2019   Lakefront Homes                    180 

2020   Harbor Club Home                                            73                                                       2020   Lakefront Homes                    310 

 

For property sellers, it is important to note that PROPERTY IS SELLING and DEMAND IS HIGH with a shortage of inventory (especially homes).  THIS MAY BE YOUR BEST OPPORTUNITY TO SELL YOUR HOME FOR TOP DOLLAR IN THE NEXT FEW YEARS!  The  following are absolute essentials to help generate a sale for top $$:   


1)  Market a realistic listing price – getting this wrong will cause your property to not get interest and “miss” this market2) Ensure your property is in the best possible condition. To get “top dollar” and serious buyer interest, every effort must be made to have your property give the best possible first impression.  KIM IS KING at this and can often provide inexpensive suggestions that will make the difference in your property selling for top dollar or “sitting on the market”.  Please stay in touch with us, or better yet, come visit us at our Greensboro office by Café 44 or our Eatonton office by Goodwill on HWY 44. 

WE LOVE TO TALK REAL ESTATE!  NO ONE KNOWS MORE ABOUT REAL ESTATE IN OUR MARKET! 

Best wishes to you for a Happy Holidays and a great and prosperous 2020! 

EXPLORE PREVIOUS MARKET UPDATES

MARKET UPDATE (JAN-MAR 2020)

CORONA VIRUS UPDATE PART 2

MARKET UPDATE (2019)

LAKE OCONEE REAL ESTATE

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