Lake Nottely Real Estate Market Report August 2011

August 2011 Lake Nottely Market Report

It is Labor Day 2011, and Real Estate has been good on Lake Nottely this year. There are 5 Homes on Lake Nottely currently Under Contract.  Should they close, we could have more than 20 Homes Sold on Lake Nottely this year. Compared to only 8 all of last year, I would say that is pretty good. There  has been 14 Homes and 1 RV Sold on Lake Nottely year-to-date.

There were 8 Homes Sold on Lake Nottely in 2010. The Median Sold Price was $349,250. The highest priced home sold was $642,396, and the lowest was $137,000. They sold at and average of 76% of the original List Price and was on the market an average of 235 Days. In 2011, there have been 14 homes that have sold and closed. The Median Sold Price is currently $360,000 with the highest sale this year being $660,000 and the lowest being $180,000. Homes have been selling this year at 78% of original list price with an average of 240 Days On Market. So even with all of the Foreclosures and Bank Owned Properties that have plagued not only Lake Nottely Home Values, but all Homes of Blairsville Georgia, we have still seen a rise in Average Sales Prices.

Sales of Lake Front Lots on Lake Nottely have not been as favorable as Residential Sales, at least according to the numbers derived from our Northeast Georgia Board of Realtors® MLS. So far this year there has only been 7 Lot Sales. The Median Sold Price for those lots has been $102,888. The highest priced Lake Nottely Front Lot sold this year was $217,500, and the lowest was $64,286. The Average Days On Market is currently 268 days with Lots selling at 60% of Original Listing Price. There has been many Bank Owned Lake Front Lots that have sold, as well as Investors who have sold Lake Nottely Lots at auction. I do not have the numbers on those sales.

If you would like to see all current Homes For Sale On Lake Nottely, please click the link below.


If you are interested in a Lot For Sale On Lake Nottely, please click the link below.


If you have any questions about this North Georgia Mountain Real Estate Market Report, please feel free to Contact Me and I will be more than happy to answer your questions. If I do not know the answer, I will find the answer. I hope you have a wonderful Labor Day, and hopefully it is being spent in the Mountains of Georgia.

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