Jan 30, 2012
The Lake Gaston real estate market continues to improve. We have experienced an increase in buyer activity in the last six weeks or so. Waterfront homes sales increased in 2011, but off-shore property and waterfront lots have lagged behind.
Year End figures showed: 120 waterfront homes and 58 off-shore homes sold in 2011, for a total of just over sixty-one million dollars. Waterfront homes sales were up 11.1% in units and 11.4% in dollar volume over 2010. Off-Shore homes lagged behind, the same period of 2010, down 22.7% in units and down 33.4% in dollars. Our total real estate market, homes and land was down 7.6% in units and up 4.1% in dollars over 2010. We currently have 23 homes in our MLS under contract which total slightly over 7.6 million dollars.
Together with the interest rates staying at ridiculously low levels and consumer confidence increasing slightly, we are anticipating a fantastic year for real estate in 2012 at Lake Gaston. Yesterday the Federal Reserve announced they anticipate leaving rates low through 2014.
