I know the question that is keeping you up nights: how was 2016 in Lake Keowee waterfront real estate sales? Allow me to assuage your incessant curiosity. Today we will delve deep into the numbers for the fiscal year primarily concerned with waterfront house and lot sales on Lake Keowee (only if I can get past my giddiness of “boat racing” Ohio State on New Year’s Eve!).
OK I can’t so no numbers. With the win Saturday night and the fact that we are headed to Tampa on Saturday to watch Clemson do the same to Alabama, it’s hard to focus. But we won’t fail you.
Let’s just compare 2016 vs. 2015. I should be able to handle that without losing total focus. Lot sales-wise there were 169 lots sold in 2015 per the MLS vs. 161 sold in 2016 for a decrease of 4.7%. The average list price for lots sold in 2015 was $287,389 and the average sold price was $258,976 (90.11% list to sell). The average list price for lots sold in 2016 was $275,000 and the average sold price was $249,093 (90.54%list to sell). So slightly down year over year in avg. sale price as well (3.8%). Currently inventories in all price ranges are very similar year over year. The big hit for lot sales and the cloud on the horizon for 2017 are the liquidation sales. There is one scheduled for April and there will be at least one more adding even more inventory to the system (hey liquidity guy, you’re not helping).
Houses? A different story. Home sales wise there were 166 sold in 2015 per the MLS vs. 180 sold in 2016 for an increase of 7.8%. The average list price for homes sold in 2015 was $745,150 and the average sold price was $686,138 (92.08% list to sell). The average list price for homes sold in 2016 was $722,326 and the average sold price was $676,553 (93.66% list to sell). So the number of units sold (which has gone up every year since 2008) went up, while the average sale price went down, but the list to sale percentage went up. The good news for you sellers is the inventory has dropped from a total of 175 houses available in 2015 to 143 available currently. That’s an 18.3% drop in inventory levels. Inventories have dropped dramatically in the under $500,000 range where there are only 18 active homes vs. 29 last year at this time. Overall good news for you home owners and another step in the right direction!
I’ll leave some things for you guys to figure out on your own. Please take a moment to click on the links below to see all this stuff with colorful charts and graphs. And if I don’t talk to you before next Tuesday, make sure you tune in and cheer hard for the Clemson Tigers (look for us in the stands, we’ll be the ones wearing ORANGE with a paw somewhere)!
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