2020 LAKE LANIER Real Estate in Review
By Sheila Davis, Lead Agent Sheila Davis Group
2020 Lake Sales Surge: 2019 was a banner year for Lake Lanier real estate, and 2020 rolled in with optimism. In March, the Pandemic hit and quieted the market for about six weeks. During that period, the online virtual showings were strong, and some onsite showings were happening under COVID-19 guidelines. In May the large pent-up demand created a flurry of showings and sales between May and December. Full price and over list multiple offers were flying for attractive homes on good lots. January of 2021 will begin with a historically low inventory of only 62 lake homes. 2019 began the year with 200 homes available, and that was a record low. The stage is set for another Seller’s Market in 2021, although Buyers are also winners gaining a spot at the lake!
- 510 lake homes with private docks or homes in neighborhoods with marina style dock access sold in 2020, a 40% increase over 2019. 401 lake homes with private docks closed vs 329 last year, a 22% increase.
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The average sales price for a home with a private dock was $781,697, an increase of 21.7%. The average sales price of all Lake Lanier homes, including homes in neighborhoods with boat slips at neighborhood marinas, was $650,000, a 5% increase overall.
- The average sales to list price was 96.2% and Days on Market was 75, compared to last year’s 95.7% and 108 Days on Market.
- Luxury Lake Is Hot: Luxury lake sales really took off in 2020. 160 homes over $800,000 sold vs 88 in 2019. A record 90 homes over $1,000,000 sold vs only 26 in 2019! Days on market was just 97 days, and the list to sales price was 94.5%. Many homes sold at full price or more with multiple offers, predominately in the $800,000 to $1,200,000 range. Luxury homes made up 31% of lake homes sales against last year’s 17%. It was a seller’s market with on average only 40 homes available at a time. In years past there have been over 100 homes on the market for buyers to choose from. With demand high and supply low, sellers should not delay, and list first quarter of 2021.
- Second Home Demand Increases in Pandemic: With “work at home” and “school at home” in 2020, it is not surprising Lake Lanier has seen many more buyers wanting a safe haven away from the cities. Lake Lanier never shut down and was a safe haven that enabled residents to enjoy outdoor recreation, while working and schooling from home. Many buyers are still chasing that elusive lake cottage under $500,000, IF they can find it. These properties are scooped up in a day or two and with multiple offers, so act fast when you see it.
- Migration from Other States: Lake Lanier has seen increased migration from out of state buyers leaving pandemic locked down states for job opportunities, better quality of life and weather, with less restrictions and taxes. Our beautiful lake is attractive to those moving from other waterfront areas and Buyers see our prices as more appealing.
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Multi-Slip Subdivisions Gain Popularity: New and existing lake neighborhoods with marina style docks were hot as builders’ spec homes, custom builds and resales hit the market, contributing to a 40% in increase in total lake homes sold. Subdivisions such as The Reserve at Lake Lanier, Hickory Lakeside, Dawson Pointe, Chestatee on Lake Lanier, Chestatee Cove on the west side of the lake and Marina Bay, Harbour Point, Summercrest and others, on mid and north lake, and Cresswind at Lake Lanier and Bay Point on the southeast side, have provided new home and resale options for buyers wanting a more traditional neighborhood feel and amenities.
- Year of Rain Continues the Trend of High Lake Levels: A full lake is always good for lake recreation and home sales, although I must say a few more sunny weekends this year would be nice! Thanks to rain and good CORPS management, the lake levels have been high for over three years, and except for a few years it dropped just below 1065, it has been consistently high since 2011.
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Boat Dock Upgrades, Safety and Maintenance: Boats are getting larger and making larger wakes due to the popularity of wake boarding and wake surfing. There are only about 30 days a year of big traffic days, but homeowners are seeing the need to maintenance and replace old docks to adapt to the increased lake activity and larger boats. Homes with newer docks with larger boat slips are in demand and well maintained and safe docks are better received by Buyers.
- Lake Homes Trends: Updated kitchens and baths have been a top priority for lake buyers for years. With the pandemic, we are now seeing the resurgence of the home office(s) and zoom spaces as work and school at home have been in the spotlight. Buyers also are attracted to comfortable outdoor spaces such as covered decks and patios, pools, hot tubs, fireplaces and fire pit areas.
Sheila Davis is the lead agent at LakeLaniersFinest.com, a VP and Partner at The Norton Agency in Gainesville, a LLA Board Member and a Lake Lanier resident for 26 years. The Sheila Davis Real Estate Group is #1 in Lake Lanier Sales and sold $70 over million in 2020, with the 89.62% in Lake sales.
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Just Sold South Lake Lanier Estate
$1,800,000, Congratulations to our Agent Nicole Columbo and our Sellers on the sale of this Beautiful Lake Estate. 6544 Yacht Club Drive, If you are considering selling your Lake Lanier home – We have several Buyers in the market now and would love to talk with you, Please give us a call at 770-235-6907 or you can reach Nicole at 678-858-0265. Or complete this contact form https://www.sheiladavisco.com/norton-agency-lake-lanier…/
Just sold after only 3 days on the market!
Just sold after only 3 days on the market! Congratulations to our agent, Linda Thompson and our Seller as well as the new owners! You can reach Linda at 770-313-5446 or 770-235-6907 for help with selling or buying a home! https://www.sheiladavisco.com/
Just Sold 2 homes – Congrats to our Agent Jennifer Anderson!
Congratulations to our Agent, Jennifer Anderson and her clients whom she helped find their dream home in the Harbour Point neighborhood on Lake Lanier and sell their current home — ALL in the Same DAY! Way to go Jennifer! We are sure they will have many happy years in the new home! You can reach Jennifer at 770-356-2629 or our main office at 770-235-6907 for help with buying and/or selling a home!
Just Listed: 4205 Perry Drive, Gainesville 30506
Beautiful 3BR| 3BA Lake Lanier cottage on deep water with stunning views! $700,000 This home is move-in ready and comes with all furnishings, art, TV’s, bedding, kitchen pots/pans, dishes, etc. In addition, at the dock, 3 kayaks, Pelican boat, 2 dock boxes, including items inside — are all included with the purchase of the home. Single-slip dock with party deck. Linda Thompson 770-313-5446, FMLS # 6786587
Just listed: 5455 Linger Longer Road Cumming
Just 5 minutes off GA400 on the South end of Lake Lanier this 6 bedroom, 4 bath Craftsman style home is the perfect retreat. $945,500, Vaulted ceiling great room with stacked stone fireplace, bookcases and wall of windows has double doors that lead out to a large back deck with a nice view of the water. Single-slip oversized dock with sun porch located in a no- wake cove with deep water near Bald Ridge Marina, No HOA and Forsyth schools, Agent: Jennifer Anderson (770) 356-2629 Additional Listing information here
Just Sold 6215 Grand Marina Circle
Just Sold 6215 Grand Marina Circle in the Marina Bay on Lake Lanier neighborhood. Sheila Davis represented the Seller and Michelle Sparks represented the Buyers on this gorgeous home! Congratulations to all. If you would like for our Group of experienced agents to help you Buy or Sell a home, give us a call 770-235-6907 Sheila or Michelle 404-379-5798 or message! We’d love to work with you!
Just sold on Lake Lanier 5130 Laurel Drive
PRICE IMPROVEMENT: 4810 Amal Lane on Lake Lanier
PRICE IMPROVEMENT: 4810 Amal Lane, Now offered at $749,000 Lake Lanier, Three finished levels, 5 bedrooms & 4 baths. Finished terrace level with wet bar, recreation room, bedroom, full bath and storage. Gentle walk to single slip dock w/ party deck, boat hoist, and 2 jet ski ports. Selling partially furnished if desired! Boat and two jet skis with trailers available for sale. FMLS #6757127,Stephanie Gillespie 770-654-4161 Listing details 4810 Amal Lane