Texas lakefront property is booming! Cedar Creek Lake, just an hour southeast of Dallas, is one of the state’s hottest markets, with prices ranging from $6,000 for undeveloped lots to nearly $19 million for sprawling compounds. The total value of Texas lake property has skyrocketed to $12.38 billion, a significant increase from last year. With over 1,100 active listings, Cedar Creek Lake is now the seventh-largest lake market in Texas.
While listing activity is up, the pace and psychology of lake-home buying have shifted since the pandemic, says Glenn Phillips, CEO of Lake Homes Realty.
Lake-home purchases can now take up to two years, compared to the 90-day turnaround typical of primary residences. “Buyers aren’t thinking of this as a real estate investment. Buying a lake home is a lifestyle choice.” – Candy’s Dirt