Market Update - August 2021

Hot Market Continues

Hot Market Continues

In the last month, 50 lake homes have sold:
3   $1m+            
7   $600k - $1m    
16  $400k - $600k  
24  <$400k        

In the last month, 20 vacant lake lots have sold:
6  over $200,000
6  $150k - $200k
8  < $150k

Currently there are 108 lake homes and 32 vacant lake lots under contract

These sales numbers are up from last month and should be even higher next month as there are a lot of properties under contract ready to close. There are definitely more listings that come up during the summer months and so far they've continued to sell quickly.

Today there are 104 active lake house listings on the market.
26 over $1m
26 $600k - $1m
24 $400k - $600k
28 < $400k

47 of the 104 active listings are on lakes with a clarity of 10' or more.

There are 80 active vacant lake lot listings (on lakes at least 100 acres in size) on the market:
40 over $200k
40 under $200k

35 of the 80 active listings are on lakes with a clarity of 10' or more.

New Listings continue to sell quickly and for high prices. There have been more listings getting price reductions this month, which means substandard homes are getting listed with aggressive asking prices and quickly bringing it down to not linger in this hot market. If a home has been listed for over 30 days without a price reduction, it's probably due for one.

While the inventory on the best lakes remains frustratingly low, it's important as ever to stay on alert for new listings on the lakes that are right for you. This can be done by creating an account and signing up to receive notifications on your favorite lakes.

Please Contact Me if you have any questions about the market or interest in staying on top of new listings.

Posted By: Adam Gohlke - Aug. 15, 2021, 11:39 a.m.