November 8th, 2012 10:33 AM by Mike and Susie Berra
Here are the sales stats for January 1 through October 31, 2012 with some comparisons to prior years.
Waterfront Homes: There have been 579 closings on waterfront homes at the Lake so far this year. That is up from 487 closings for the same period last year. Average sales price this year is $280,120 down from $295,669 last year. Bank owned waterfront home sales are down in 2012 at 39 closings compared to 45 in 2011. For comparison, there were 850 closings for the same period back in 2005.
Off-Water Homes: So far in 2012, there have been 572 off-water home closings at the Lake compared to 520 last year. Average sales price is up to $111,718 compared to $98,861 in 2011. Off-water bank owned home sales are down from 198 last year to 176 now. For comparison, there were 825 closings on off-water homes in 2005.
Condominiums: There have been 413 resale condo sales as of this date which is substantially higher than the 337 closings in 2011. Average sales price has dropped from $154,375 last year to $147,633 this year. Bank owned condo re-sales number 29 this year and 29 last year. New condo sales numbered 43 in 2012 vs. 54 in 2011. New condo prices are up slightly as are new condo foreclosure sales. For comparison, there were 1,015 closed condo sales in 2005.
Other Type Properties: Villa sales are down slightly, but prices are higher than last year. Lakefront lot sales number 45 this year vs. 34 in 2011, with average prices at $141.259 compared to $108,341 in 2011. Off-water lots and land sales are up roughly 20% and average values are also up. Fewer commercial properties sold in 2012 and bank owned sales are up slightly from 2011. Farm sales have increased by 30% this year compared to last year.
Summary: Counting all property types, there have been 1,821 closings at the Lake so far this year with a volume of $321,689,233. There were 1,594 closings last year with a volume of $279,918,937. Bank owned sales are down from 309 last year to 289 in 2012. For comparison, in 2005 there were 3,504 closings with a total volume of $620,281,140.
Note: Information obtained from the Bagnell Dam Association of Realtors MLS