The severe drought in 2007 and 2008 in Georgia has completely subsided.
Lake Lanier's water level is at full and normal "pool" for the last 10 months.
Lake Lanier rose a dramatic 21 feet in the summer of 2009 with all the storms and heavy rains.
Lanier is located about 1 hour North East of Atlanta.
But are Home Sales improving on Lake Lanier in 2010 from a year ago? The quick answer is yes.
The first 3 months of 2009 from 1/1/2009 to 3/31/2009 there were 17 lakefront homes with docks (platform, community and shared docks excluded) that sold on Lanier according to the FMLS.
The average days on the market was 149 long days per home (5 months).
The average sold price as a percentage of asking price was a meager 81%.
The sold homes ranged from $188k to $ 973k with an average of $452 per home.
From 1-1-10 to 3-31-10 there were 27 lakefront homes that sold with docks (with the same exclusion for 2009).
This is a dramatic increase for the better.
The average days on the market were 112 days (or about 3.
75 months).
Again, a major improvement.
The average sold price as a percentage of asking price was a very improved 90% (at least for the sellers).
The average sales price was down to $373k.
The bad news is that no homes over $650k sold during this time.
2010 has shown major improvement on lakefront sales on this pristine lake.
But higher priced homes, especially mansions over $1 million are having a tough time finding able and willing buyers.
$400k to $5550k Lanier homes are selling much better than a year ago.
Is this because of the water level rising or because of the improved economy...
or both? That is yet to be determined.