January 2025 Lake Oconee Market Update from Kim and Lin Logan Real Estate
HAPPY 2025! We hope everyone had a wonderful and prosperous 2024! The Kim and Lin Logan Team was again blessed last year and concluded 2024 selling more real estate in sales volume than any other individual agent or team in our market. Our total credited sales from the MLS were over $149,000,000. It is no accident because our amazing team of agents work tirelessly to be the most knowledgeable sources of information in our market, and to provide the highest level of customer service out there. This is the 18th year in a row that we have been #1 in our market! We are very optimistic and looking forward to 2025 and we send our best wishes for your success in 2025 too!
As discussed in previous newsletters, our market continues to benefit from people wanting to escape from other parts of the country and the world, live in warmer climates, and enjoy the wonderful lifestyle and amenities of the lake country. As a result, the number of buyers (demand) continues to be strong. While the inventory of existing homes is lower than demand, new construction and development have increased over the past year. Consequently, it is a very favorable market for both buyers and sellers. While the continued higher interest rates are still a challenge, we forecast that our market will continue to be strong and attractive in 2025.
You can see from the statistics below that the Lake Oconee market was very similar from 2024 to 2023 with modest increases in some sectors.
| 2023 | 2024 | |
| HOME SOLD | 1048 | 1079 |
| AVERAGE HOME SOLD PRICE | $801,000 | $895,000 |
| LAKE HOMES SOLD | 162 | 162 |
| LAKE LOTS SOLD | 68 | 51 |
| GOLF COMMUNITY HOMES SOLD | 324 | 333 |
| GOLF COMMUNITY LOTS SOLD | 214 | 231 |
| TOTAL REAL ESTATE SOLD | $1,922,588,466 | $2,278,989,705 |
| AVERAGE DAYS ON MARKET HOME | 88 | 96 |
| AVERAGE DAYS ON MARKET LOTS/LAND | 107 | 92 |
| AVERAGE LIST/SALE DIFFERENCE HOMES | 4% | 5% |
| AVERAGE LIST/SALE DIFFERENCE LOTS/LAND | 4% | 3% |
These are very exciting times in our market as it continues to expand in size and popularity. We would love to talk to you about our market in greater detail and hopefully make you part of our community if you are considering buying or help you relocate if you are moving. Contact us with any questions and we will put our knowledge and expertise to work for you!
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