I have just completed my 7th year of compiling Lake Hartwell quarterly market statistics. This job is a little cumbersome as sales are sometimes reported in both the GA and SC MLS’s. Sales need to be combined and summarized with duplicates removed by manual inspection. While the process is time consuming, I believe the data is invaluable to me and my clients. I am not aware of any other agents who have taken the time to do this.
Sales are typically a little slower in 4th quarter than the other quarters, but the number of home sales in Q4 2014 sales was flat relative to Q4 2013. Lot sales were a different story with the number of sales up 111%. Average home prices increased for the fourth straight quarter, with a 9% increase over last quarter to $329,000. Average lot sales price was down slightly to $113,000, mainly due to several abnormally low sales (low water depth) that I couldn’t exclude as they met the criteria of being approved for a dock. The number of available lots was down by 5%, and the number of available homes was down 15%. With high buyer activity, lower inventory levels and historically low interest rates, there could not be a better time to lock in your spot on the lake.