As we begin the new year 2019, it is time to take stock of the 2018 home sales at Lake Oconee and to project the sales anticipated for this area during the coming year. The data from the local Lake Country Multiple Listing Service reveals that 2018 home sales continued on an upward trend! The
assessment of total sales of dwellings including homes, condos, and townhouses (combining Lake Communities and Gated Communities) reveal that the number of homes sold at Lake Oconee rose from 585 units in 2017 to 601 units in 2018, and an increase of 3%. Likewise, the average sale price of a home also rose from 2017’s average price of $484,916 to an average of $547,828 in 2018, about a 13% increase.
The most expensive waterfront home sold for $4,000,000 in a Gated Community, but there were many desirable waterfront homes that sold for under $400,000 in Lake Communities. There is a home for every lifestyle and every budget.
So, what is the forecast for the 2019 Real Estate market? The biggest change recently has been the rise in mortgage rates. Here’s what the industry leaders predict for the 30-year mortgage rate (today about 4.2%) by the end of 2019:
- Realtor.com: 5.5%
- Zillow: 5.8%
- Fannie Mae: 5%
Although mortgage rates will slowly go up, the price of houses will not rise as much and the inventory of homes will increase, thus many prognosticators predict a balanced home buying market. It should be a good year for both buyers and sellers. One piece of advice to buyers: if you can afford a home, buy sooner rather than later this year.
Beat the Spring Rush, come look at currently listed homes at Lake Oconee! Here are a few of our lakefront listings that may fit your taste and pocketbook.
Look at this waterfront home in a Lake Community :
2 1/2 baths
Look at this listing in a Gated Community
4 1/2 Baths
View all the homes, lots, and farms for sale in the Lake Oconee Area at our website
We’re here to show you any home in the local area, so call Suzie (706-347-1115) or Jim (706-453-6253) to plan a visit.
RE/MAX Lake Oconee
Home Search: Look@LakeOconee.com