Tag: lake listings

Lake Home and Lot Listings Surge by $6.4 Billion Amid 19% Inventory Boost

Posted on Linda Thach

April 2, 2024 – Hoover, Ala. – Great news for potential lake home or lot buyers! This spring offers a wider selection of properties. According to the Spring 2024 Lake Real Estate Market Report by Lake Homes Realty, there are currently 83,467 lake home and lot listings available. This represents an increase of 13,366 from the 70,101 listings seen in Spring 2023. 

That’s not all – the total market value of these listings sits at $44,111,017,837, demonstrating an improving market with investment potential. This is a positive shift compared to the $33.74 billion and $26.13 billion reported in Spring 2023 and 2022 respectively. With more options and a growing market, this spring presents an excellent opportunity to find your dream lakefront property.

Top Lake Real Estate Markets Nationwide

Boasting the most extensive selection of properties this spring is Lake Michigan. This lake has a total value of $1.46 billion across lakefront, lake view, and lake access properties in Illinois and Michigan, according to the Spring 2024 Lake Real Estate Market Report by Lake Homes Realty. 

Following Lake Michigan, homebuyers seeking lakefront living have a variety of options across the country. Here are some of the other top contenders:

Twelve states serviced by Lake Homes Realty had more than one billion dollars in lake home and lot real estate listings, according to the quarterly report. 

Leading the pack is Texas with a total of $8.139 billion, followed by Florida in second place with $5.287 billion, and Washington state securing the third spot with $2.762 billion. The other $1 billion+ states in order include: North Carolina ($2.432), Tennessee ($2.376), Georgia ($2.134), Minnesota ($1.909), Michigan ($1.783), Alabama ($1.390), South Carolina ($1.274), Missouri ($1.206), and Illinois ($1.181).

For the total number of listings, Texas had the most lake home and lot listings (15,393), followed by Florida (9,648), Tennessee (5,880), North Carolina (4,354), Georgia (4,174), Missouri (3,677), and Alabama (3,629).

For the most expensive lake home averages, Florida, Washington, and Montana were the top areas featured. The average for lake homes on Lake Butler, Florida was $4.634 million each. Lake homes on Lake Washington, Washington averaged $4.094 million and Whitefish Lake, Montana homes were $3.894 million. Among all of the homes and lots featured on LakeHomes.com, the average price was $528,484. 

Don’t Be Fooled By Headlines

“Sellers and buyers should not be fooled by headlines that tout significant increases in home inventory,” urged Glenn S. Phillips, CEO and Chief Economic Analyst for Lake Homes Realty. “Home Listing Inventory Doubles!” is not very meaningful when the base number you are doubling is very small. For instance, going from 200 to 400 homes is meaningful, but going from 15 to 30 is still sparse although both are ‘doubling’,” Phillips explained. “Any market with historic lows can improve and still be very limited.”  

Phillips continued, emphasizing Lake Homes Realty is in a “soft” seller’s market, “Any market with historic lows can improve and still be very limited.” “Unfortunately, many sellers falsely believe they are in a ‘hard’ seller’s market and foolishly demand higher-than-market prices,” Phillips said. “These sellers are overpricing themselves right out of the market.”

He added, “This does boost inventory numbers (since these homes don’t sell very often) but that is a false flag about the market.”

Lake Home Buyers: Savvy and Selective

Lake home buyers are entering a new era of informed decision-making, according to Phillips. He emphasizes the heightened awareness of today’s buyers, stating, “They know the market, the trends, the transactions, and the lousy and overpriced listings.”

This knowledge translates into behavior, as Phillips explains, “Lake home buyers recognize homes online that have been on the market for over a month. These buyers consider these homes grossly overpriced and have no interest in wasting time asking about these properties, much less touring them.”

In short, Phillips concludes, “Lake home buyers are eager but not foolish.” They are prepared to act quickly on properties that meet their needs and price expectations.

Lake Market Myths Debunked: Inventory Up, Prices Stable

“No bust coming. There is nothing on the horizon that will create a large surge of lake properties for sale,” assures Phillips.

Phillips offers reassurance to those concerned about a market downturn, explaining, “We are seeing an increase in inventory over this time last year and anticipate more homes and lots will come on the market as the weather warms and lake season hits high gear.”

To further support his point, Phillips provides historical data: “Over the past five quarters, our Lake Real Estate Market Reports show listings from our 34 states to range from as few as 70,101 and as high as 89,542. In the quarterly snapshots of the lake real estate market, total inventory list prices over the same five seasons collectively ranged from $44 billion to nearly $50 billion,” he said. He concludes by highlighting price stability, stating, “The average of all our inventory, both lake homes and lots, ranged from $528,484 to $556,758.”

Total number of listings graph
Total listings in dollars graph
Average listing prices graph

Top 10 States for Lake Property Listings

  1. Texas – 15,393
  2. Florida – 9,648
  3. Tennessee – 5,880
  4. North Carolina – 4,354
  5. Georgia – 4,174
  6. Missouri – 3,677
  7. Alabama – 3,629
  8. Minnesota – 3,353
  9. Michigan – 2,945
  10. Arkansas – 2,888

    Top 5 Most Expensive Lakes for Home Listings (Average Price)

    1. Lake Butler, FL – Avg. of $4,634,656
    2. Lake Washington, WA – Avg. of $4,094,885
    3. Whitefish Lake, MT – Avg. of $3,894,179
    4. Heron Lagoon, FL – Avg. of $3,853,197
    5. Flathead Lake, MT – Avg. of $3,541,252

    Top 5 Lakes for Number of Home and Lot Listings

    1. Lake Of The Ozarks, MO – 1,235
    2. Table Rock Lake, AR/MO – 1,207
    3. Lewisville Lake, TX – 1,035
    4. Canyon Lake, TX – 1,014
    5. Cedar Creek Lake, TX – 1,013

    The Spring 2024 Lake Real Estate Market Report shares a summary of data collected from 146 Multiple Listing Services (MLS) areas in the 34 states served by Lake Homes Realty and is, to its knowledge, not available from any other source. Copies of the Spring 2024 Lake Real Estate Market Report are now available to download for free at www.lakehomes.com/report.

    Life on Lake Coeur d’Alene

    Posted on Staff

    Located in northern Idaho, Lake Coeur d’Alene dazzles even the most devout land lovers with its centuries-old history and breathtaking natural beauty.

    Fed by the Coeur d’Alene and Saint Joe rivers, Lake Coeur d’Alene is the second largest, naturally occurring lake in the region, with a shoreline stretching more than 100 miles.

    A Look at Lake Coeur d’Alene History

    Lake Coeur d’Alene’s story began long before North America’s first inhabitants occupied the land, forming as glaciers melted and flooded the area during the last ice age.

    Later the Coeur d’Alene Native American tribe occupied the lake as well as more than four million acres of land in Washington, Montana, and Idaho.

    Today, the Coeur d’Alene people own the southern third of Lake Coeur d’Alene and its submerged lands, and several miles of the Saint Joe River and its submerged lands, as part of the tribe’s protected reservation.

    European settlers arrived in the early 1800s, bringing with them the fur-trading industry; and by 1887, the town of Coeur d’Alene was established.

    Lake Coeur d’Alene has changed significantly in both size and shape since its early days, largely due to Post Dam Falls operations, which caused several small lakes to merge into its present-day form.

    Today, the lake continues to serve as a major component in Kootenai County’s lumber industry and as a recreational hub for tourists and residents alike.

    Hit the Scene on Coeur d’Alene

    Lake Coeur d’Alene invites patrons to swim, fish, waterski and jet ski along its 25-mile length.

    The bottom of the lake is rich with sunken cars, steamboats, and other vessels, making it a popular place for diving.

    Whether for adventures above or below Lake Coeur d’Alene’s surface, Coeur d’Alene Cruises offers lake enthusiasts scenic daytime tours, shipwreck dives, romantic sunset dinner cruises and more.

    World-class amenities await on dry land at the Coeur d’Alene Resort, famous for being the home of the world’s only floating golf green.

    Located on the lake’s north shore, this 4-star resort also features a luxury spa and is surrounded by posh dining, shopping,, and a thriving nightlife scene.

    The Lake Coeur d’Alene area is also home to some of the nation’s finest golf courses and birdwatching.

    Lake Coeur d’Alene Real Estate

    Coeur d’Alene Lake is the largest overall lake real estate market in Idaho, with current listings valued at more than $237 million.

    According to the LakeHomes.com 2019 Summer Lake Market Report, there are approximately 319 properties for sale on Lake Coeur d’Alene, or 102 lake home listings and 217 land listings.

    The average home price in this market is $1.7 million, the highest in the state.

    With Coeur d’Alene’s rich history, mountainous beauty and many scenic wonders, the demand for real estate in the market surrounding this lake will certainly continue grow.

    Company Growth: Lake Homes Realty Now Working from Top to Bottom of U.S.

    Posted on Staff

    Lake Homes Realty is now operating in Maine, Florida and Michigan, bringing the company’s market footprint into 18 states!

    “Entering these states has been a milestone of Lake Homes Realty,” said company CEO Glenn S. Phillips. “This is really an exciting time for our brokerage.”

    This expansion is driven by the Inc. 5000 company’s aspirations for opening operations in 10 new states within the year, a goal that was announced at Lake Homes Realty’s 2017 annual Agent Summit.

    Lake Homes Realty company growth brings brokerage into 18 states.

    It would appear the company is well on its way to reaching that goal, if having added five more states to their footprint since this time last year is any indication of Lake Homes Realty’s successful expansion.

    The company began its accent up the eastern coast last year with the addition of operations in Pennsylvania and New York.

    With Maine operations now open, Lake Homes Realty extends into the country’s north-most part.

    And with further expansion into Michigan and Florida, Lake Homes Realty is now working from the top to the bottom of the eastern United States.

    “We able to better serve our lake real estate sellers, buyers and our own agents with each state we enter,” Phillips said. “We have seen success in the markets we are already established, and we look forward to seeing the same in Michigan, Maine and Florida.”

    Lake Listings are Live!

    Phillips emphasized lake listings in these new markets are live now on LakeHomes.com, the core of the Lake Homes Realty business model.

    The site provides a one-stop shop for lake homes and land, currently featuring more than 65,000 properties. In the last year alone, more than 2 million people have made use of the site and its features.

    “What’s so exciting about our company is that we are a national brokerage, and because of this we are currently able to pull lake real estate listing data from almost 100 MLSs across the country to provide the most comprehensive collection of lake property in local markets,” said Phillips.

    In this way, the site is tailored to cater to the niche market’s unique buyers and sellers.

    “Niche real estate markets, like lake real estate, are different from traditional markets in that buyers and sellers are looking for a specific type of property,” Phillips explained. “LakeHomes.com facilitates an easier and more convenient shopping experience for these potential clients.”

    Though Lake Homes Realty has a strong online component, Phillips reinforced the company’s belief in the power of local agents and the importance of marrying that power with the power of technology.

    “A combination of those two key components is critical for success as a real estate company, and we can’t wait to see what great new agents and success our journeys in Maine, Florida and Michigan will bring.”