GLG Lake Report - Q1 2019 SalesReport_q1_2019_v3 | Page 2

After the country’s worrisome fourth quarter 2018, I’m very glad to have positive news to report. In the
second half of last year, the overall market was definitely declining both locally and nationally. While that
happens normally in the fall, this decline started mid-year which is very rare. Around here, I believe it was a
function of the contentious governor’s race and other negative national news. The graph at the top of this
page shows the positive bounce we saw in January for the overall metro-Atlanta area. The Lake Lanier real
estate market followed the same trend. Both the number of units sold and average sales price are up slightly
from last year. The inventory of lake homes on the market has also risen. If you are a buyer, this is great
news. If you are a seller, it may impact your home’s salability, days on market and overall value --
especially in the higher price ranges. We’ve seen strong demand so far this year, but time will tell. The more
competition, the more competitive your price needs to be. According to realtor.com, the rate of appreciation
on property values has waned noticeably. Values are not going down, but they are rising at a much slower
rate than last year. Another plus for buyers is that interest rates dropped in March to their lowest point in
over a year.
The following Q1 2019 statistics are good indicators of the current market.
# of units sold: 47 up 7% from 2018
Average sale price for Lake Lanier property: $586,000 up 1% from the previous year
Average number of days on market: 122 up 13% which means it’s becoming more of a buyers’ market
Sales by city: Gainesville 24, Dawsonville 7, Cumming 4, Buford 4, Flowery Branch 3, Murrayville 2,
Dahlonega 2, Oakwood 1, Lula 0
We’ve just started our busy season, but so far, so good. Of the past six lake listings, we sold four in the first
week or before we got the listing started. We do a lot of prelisting marketing, so that does happen
sometimes; but, this was a particularly good start to the summer selling season. I hope you enjoy this report.
See ya on the lake! As always, call us if you need us. 678-860-0990 (c)
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Bev Knight
Lead Agent for The Good Life Group Lanier