How is it already Labor Day weekend?!? While there is still plenty of summer left on the calendar, Labor Day weekend has always been the official ‘end’ of the summer season at the lake. This summer market seems a little weird compared with the last 5 years or so. Things have definitely slowed down. We have quietly built up inventory near 300 homes for sale county wide. Homes are still selling – don’t get me wrong – but buyers have a lot more choices now and the days of just sticking a sign in the ground and having an offer in hand the next day are long gone. The reality the real estate market faces right now is that there are still 279 homes for sale. There 205 homes in the immediate lake area for sale. There are 53 lakefront properties available that AREN’T under contract yet. There are 189 lots/land listed for sale and only 15 of those are under contract right now. 70 of those lots available are surrounding the Lodestone golf course. Only time will tell but there is definitely a price correction on the horizon for some segments of the market.
Notable activity over the last week or so:
- 18 new listings, 14 price reductions over the last 7 days
- 4BR home near Lodestone sold for $660,000 – lowest price in a long time
- Lakefront home Pergin Farm on market @ $3.2 million
- 1BR 1BA 400sf tiny home under contract $270k near Lakeshore Dr
- $1.1 million sale in Mountainside
- 3 new lakefront homes between $1.2 and $1.7 million just hit market
- 3BR brick home in Grantsville under contract in 7 days @$289k
- 12 homes were withdrawn/removed from market entirely
25+ years of experience analyzing market trends and honest assessments of real estate values –
call me for a free consultation! jay@deepcreeksales.com 301-501-0420 (call/text)
call me for a free consultation! jay@deepcreeksales.com 301-501-0420 (call/text)
- 279 active residential listings on the market (down from last report)
- 68 under contract/pending (same from last report)
- 32 total home sales closed so far in August
