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Lake Lanier Real Estate in a Pandemic-Recession

Recently, I consulted with a buyer who couldn't understand why it is not more of a buyers' market for Lake Lanier luxury homes - million dollar plus lakefront homes, given the fact we are in a recession/pandemic with no jumbo mortgages available to speak of. To demonstrate the level of buyer activity, I pulled from our multiple listing service (First MLS) the current pending sales and 'Active/Under Contract' listings at $995,000 and higher, as to list price. (Active/Under Contract is a status for homes that have a contract, but are still within the buyer due diligence period).

As of today, July 26, 2020, there are 18 lake homes under contract on Lake Lanier with a list price over $995,000. List prices that I pulled for this quick look, range from $995,000 to $2.3 million. Interestingly, there are a total of 55 Lake Lanier homes showing 'Active' status, ranging from $999,000 to $7.995 million. With 25% of Lake Lanier's total million plus homes under contract,…

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