CEDAR CREEK LAKE - Contrary to the expectations of many prospective lake home buyers, the sales of waterfront homes at Cedar Creek Lake continue to remain strong - and slightly higher - through the 3rd Quarter. Good news for property owners still looking to sell. The Average Sales Price for waterfront homes this year is just over $322,000 - a 5-year high. That's up 9.44% from just over $304,000 in 2010. The increase is primarily due to the interest and activity in 4-bedroom floorplans. Although fewer sales have occurred in this category this year than last (30 vs. 47), the average sales price for a 4-bedroom lake home at Cedar Creek Lake was up $83,600. Also contributing to the overall increase in average sales price were the sales of 2-bedroom floorplans - up an average of $14,776 over 2010 at $180,732. The average sales price for 3-bedroom floorplans - comprising more than half of the total market - suffered a modest 4.74% drop from last year down to $254,189 for 2011. But, hardest hit were those floorplans with 5 or more bedrooms - down an average of 11.35% from 2010 at $780,406. Also of interest is that the number of waterfront sales for 2011 is not that far off from last year. Waterfront home sales total 157 through the 3rd Quarter of 2011 - off by less than 10% for that same time period in 2010. But, despite the prolonged stretch of 100-degree days this summer and the record-low lake level, propective buyers continued their pursuit for Cedar Creek Lake waterfront homes with a slight increase in the showings of waterfront properties during the 3rd Quarter. It is estimated there were 1,240 showings during the 3rd Quarter resulting in 57 sales - a 4.6 Sales-to-Showings percentage. The 2nd Quarter had 1,206 showings resulting 60 sales (4.98%) while the 1st Quarter had 1,070 showings resulting in 42 sales (3.93%). And, believe it or not, there's even some good news about the lower-than-normal lake level at Cedar Creek Lake. In December, 2006, the lake recorded its lowest level since 1967 - down 7.33 feet. Yet, waterfront sales for 2006 and 2007 were higher than in other years when the lake was 'full' at its normal pool level of 322 feet of elevation. The good news for buyers is that the sheer number of waterfront homes on the market has never been greater. Nearly twice as many lake homes have entered the Cedar Creek Lake marketplace this year as in 2010 - 664 vs. 337. With so many homes in competition, successful sellers have lowered their expectations for realizing the large capital gains seen in the past and have learned to engage prospective buyers with lower-than-expected initial offers. And, with the lake at its lowest level in 44 years, buyers can see the type of waterfrontage they're getting, however to take advantage of the selection buyers must be able to envision the water level as it is most of the time, not as it is now. Buyers with vision can reap the benefits of the current real estate market. *Most statistics are compiled from data provided by the Henderson County Board of REALTORS®. Some information is based on actual showings records of 45.71% of all active listings