You don’t see the underlying data but there were no sales prices over $1M in Q2 this year, but there were two in Q2-2010. Regardless, average sales and median sales prices remain flat. Total transactions and average sales price / original list price is up, 6% and 3% respectively.

Distressed Lake Sales

There was a fairly significant drop in distressed sales on Lake Lanier. Distressed sales made up 31% of this quarters transactions but 42% of Q2-2010 transactions. I believe this reflects a continuing decline in foreclosures on the lake which is good news for non-distressed Lake Home Owners.

Investors Moving In?

Investors or smart buyers? Either way 21% of the sales in the second quarter of this year were Cash Buyers. I’m not sure if this is just smart money finally coming off of the sidelines or 2nd-home buyers moving back into the lake market - or maybe a little bit of both. Regardless, it’s good news.

The Clock Is Ticking

Whether you are Searching Lake Lanier for a second home or just trying to buy now what you couldn’t afford a few years ago, now is definitely the time to purchase real estate on Lanier. The market has stabilized, distressed sales are declining and the smart money is moving in. If you need advice, give us a call.