From our winter QTR 1 report into QTR 2 spring and summer, lake home prices has significantly increased and average days on the market have decreased. This is fantastic news for lake home sellers! Lakefront is truly one of the best investments in many ways both for your lifestyle and financially as there as only so much of it!
With higher mortgage rates, rising home prices, and a growing number of homes for sale, the national housing market is starting to showing signs of a shift as we more further in summer. So far, our Lake Team is not experiencing a decreased in demand for lakefront and there is a long way to go to go back to pre-pandemic inventory levels.
When conditions change, following the trends and staying on top of new information is crucial when you are buying or selling your East Tennessee lake home. That makes working with an Lake Specialist critical today. They know your local lake and lake community and national trends too as more and more people relocate to beautiful East Tennessee. More importantly, they’ll know what this data means for you, and as the market shifts, they’ll be able to help you navigate it and make your best decision.
“The housing market is at a turning point . . . We’re starting to see signs of a new direction, but the ball is still in sellers’ courts in most housing markets.” – Danielle Hale, Chief Economist, realtor.com
Free to the public, the market report can help lake home buyers and sellers better understand their local market and how it relates to other similar competing markets.
Finding an affordable lake home can be a challenge in the post pandemic market. Our report helps buyers understand:
- How do lake markets compare statewide and regionally by price?
- Which lake markets have the most affordable homes or land?
- Which lake markets have the most homes in your target price range?
Our report will help sellers understand:
- How does your lake market compare to OTHER similar lake markets around you?
- How many homes are in the same price range as your home or lot (a key when pricing your property)?
LAKES WITH YEAR ROUND WATER – (4-6 FT. WATER LEVEL DROP IN WINTER MONTHS)
Tellico Lake offers beautiful Smoky Mountain Views and fabulous award winning communities. TVA also restricts future development on the lake which ultimately keeps price point for lakefront stronger.
CLICK HERE to view all active properties for sale on Tellico Lake.
This lake is nearby double the size of Tellico, Watts Bar lake offers both a variety of lake communities and lake homes with few to no restrictions.
CLICK HERE to view all active properties for sale on Watts Bar Lake.
Ft. Loudoun Lake is a popular choice for folks wanting all the conveniences of living close to Knoxville and an active lake.
CLICK HERE to view all active properties for sale on Ft. Loudoun Lake.
LAKES WITH SEASONAL WATER – (20-50 FT. WATER LEVEL DROP IN WINTER MONTHS)
Douglas Lake offers private and seclusion while also being close to popular destinations such as Sevierville, Pigeon Forge and the Great Smoky Mountains National Park.
CLICK HERE to view all active properties for sale on Douglas Lake.
Norris Lake has the largest reservoir on a tributary of the Tennessee River and is a popular lake for all your favorite summer water activities and offers a variety of seasonal lakefront marinas and restaurants.
CLICK HERE to view all active properties for sale on Norris Lake
As a multi-state, full-service brokerage, Lakefront Living Realty has not only data on the different East Tennessee lake areas, we have local knowledge and specialize in the major lake communities such as Rarity Bay and Tellico Village. This quarterly report contains real estate information from the Knoxville MLS on the 5 major lakes people are moving to or buying second homes.
Reposted by Mike Hogan, Lakefront Living, On The Lake Realty, TN