The average price of a single-family lakeside home shot up to $412,436 this year — an 11% increase over 2019’s average of $370,782. At the same time, the lake area’s inventory has dried up: it had about five months’ worth of inventory on hand in July of this year, compared to a full year’s supply the previous July, according to the board. And homes are selling within hours of listing.
“If you’re listing between $100,000 and $500,000 and if it’s priced correctly, it’s selling within the first three days,” said Veile, who is an agent at RE/MAX at the Lake. “Our days on market have never been so low and our prices have never been this high.”
She said tourists and buyers alike are flocking to the lake as a vacation getaway, whether they come for socialization or isolation.
“Even if they want to social distance and they don’t want to be one of those people on the national news at the bar, it still gives them an option to come here and to do something different,” Veile said. “People got money back from cruises, flights, canceled vacations and said maybe we need to just buy a place where the whole family can come together and we can have an escape.”
National exposure changes landscape
Shady Gators is the classic lakeside escape.
The double-decker bar and grill, decorated in shades of green and gator imagery, overlooks the lake at mile marker 7.