Local Market Trends May 5th, 2008
Market conditions on Lake Oconee and Lake Sinclair



Summary of current market information in Lake Oconee and Lake Sinclair MLS systems



The first four months of 2008 have had less closings than the prior two years for same period. However, from the number of buyers in our office in the last few weeks, it appears that spring activity is picking up. The market favors the buyers because of the high number of available properties.

For Lake Oconee, as of April 30th there were 31 lake homes sold this year, 7 last month. There are 306 lake properties currently on the Market. Last month there were 296 Lake Homes on the market so inventory continues to be high.


In the Lake Oconee Market, average sold to list price for all properties is 93%, and we continue to see downward pressure on prices. We have sold some properties in less than 60 days, some in less than 2 weeks or sooner when the property is priced right. Our agents are also helping owners with current pricing, short sales and internet advertising in order to sell properties.

We are now offering Preferred Pricing of 4% commission for all Lake Homes and 6% commission on Lake Lots. This will help Sellers list their property at a more competetive price. We want property owners to save money and protect their equity during these tough times. Call me for details - Tom Schlesser 706 347 0795.



For the entire Lake Oconee Market, there are 2521 properties of all types ($1,073,000,000) currently for sale. 66 total properties sold in April ($16,368,000). 233 properties have sold since January 1st.


Lake Sinclair market trends are similar. 17 Lake properties sold in April. 571 are available, more than the 468 for sale on January 31. Average sold to list price is 91% for the 56 lake properties that have closed this year.

For all types of properties in Lake Sinclair MLS, 241 ($37,000,000) have sold since January 1, but 1892 ($408,329,000) are on the Market - over two years supply at this rate. A great buyer's market because of large numbers of properties to chose from.

These trends make our area more affordable and give buyers an opportunity to make their best deals this spring while inventories remain high. Buyers continue to contact us everyday looking for properties in this area that are priced to sell.



Note: The Lake Oconee and the Lake Sinclair Markets and MLS information overlap so there are some duplication of properties and information. We make every effort to be as accurate as possible, but cannot guarantee exact results. This information is for the discussion of REAL ESTATE trends and is not intended to be a final compilation. Every individual transaction is unique to the parties involved and may not be representative of these summaries of all transactions shown in the two MLS systems. Call with questions or to discuss individual observations - Tom Schlesser 706 347 0795

Copyright 2008
Tom Schlesser, Broker, Century 21 Minchey Properties.