There have been 68 waterfront homes sold at Cedar Creek Lake between January 1st and March 31st of this year. That’s an increase of 66% over any of the past 7 years – the best of which were 2013 and 2014 each with 41 sales during their 1st quarters.
(see graph below)
This dramatic increase in 1st Quarter Waterfront Home Sales volume may be driven by the lower average waterfront home sales price of just over $305,000 – down almost $60,000 from 2015’s average of just over $364,000 – however the average waterfront home sales price is not an indicator that waterfront home prices have dropped but rather that 63% of waterfront home buyers are buying lake homes at prices below $350,000.
(see graph below)
What’s ahead for the Cedar Creek Lake real estate market in 2016? The increased sales volume of lower priced waterfront homes during the 1st Quarter may do two things: It may reduce the number of lower priced waterfront homes available to the point that prospective Buyers will need to move up in price; It may also encourage more prospective Sellers of waterfront homes priced below $350,000 to enter the market. Either way, it’s great time to purchase a Cedar Creek Lake home!
