Happy New Year! We hope you and your family had a wonderful Holiday Season. Now that 2018 is here, we are all setting our business goals for the year. We worked with many of you in buying or selling homes in the Georgia’s Lake Country in the past and hope to work with you again soon. As we look toward 2018, we are ready to help you, your family, or friends if purchasing a Lake Oconee home this year is your New Year’s resolution. The time is right for Lake Country real estate. Here’s a look at last year and some predictions for 2018.
2017 Results from Lake Country Real Estate Sales Show Growth
According to the Lake Country Multiple Listing numbers the total real estate dollar volume for 2017 increased some 24% over the total for 2016 with the average transaction sale price increasing just over 16% – prices are coming back. The biggest gains were in gated/golf community home and lot sales, both lakefront and off water. However, non-gated lakefront and off water home sales also showed healthy increases indicating a strong market for “affordable” first and second homes.
2018 Predictions for Real Estate Sales
A survey of real estate and economic advisers across the US reveals an overall positive prediction for home sales in 2018. Realtor.com published on January 4, 2018 an article by Holly Amaya urging potential home buyers to enter into the housing market in her article entitled “3 Best Reasons to Buy a Home in 2018 (but You’d Better Hurry)”
- Her points are:
1. Rates are going up
2. Prices are climbing, but not crazily fast
3. Inventory levels will begin to increase
Speaking of mortgage rates, the Atlanta Journal reported on January 12th, that the average rate on a 30 year mortgage increased to 3.99. (Up from 3.95)