 Current Lake Lanier Stats for 2024 into January 2025 (per FMLS data) - (All Lakefront Homes with individual or deeded boat dock permit) *Current number of lisings on Lake Lanier = 138 (From a low of $399,000 to a high of over over 5 million) *List to Sales price ratio on average is 92%. Earlier in 2024 that number was closer to 94% *Median Sales price of Lake Lanier Properties is $1.1 million, which has remained fairly stable over past year *Average Days on Market (DOM) = 45 days which has remained fairly stable over past year *Price per square foot has been in the mid to upper $300 range. HOWEVER, please note that price per square foot is FAR less reliable with Lake Lanier properties due to the wide range of lake site values, which is included in the price per square foot calculations Lake Lanier, located in northern Georgia, is a man-made reservoir created in the 1950s by the U.S. Army Corps of Engineers. Constructed by damming the Chattahoochee River with Buford Dam, the lake was designed to provide hydroelectric power, flood control, and water supply to the region. The project led to the displacement of communities, farmlands, and even cemeteries, contributing to the lake's mystique and historical significance. Over the decades, Lake Lanier has become a popular recreational destination, attracting millions of visitors annually for boating, fishing, and waterfront living. However, its fluctuating water levels, complex shoreline, and submerged remnants of old structures make it a unique and sometimes challenging location for real estate appraisal. Appraising properties on or near Lake Lanier requires specialized knowledge and experience due to the distinct characteristics of waterfront real estate. Unlike conventional residential properties, homes along the lake are influenced by factors such as water access, dock permits, lake views, and seasonal water fluctuations. The value of a property can vary significantly based on its proximity to deep water, the presence of a private dock, or even its location along a cove versus open water. Additionally, regulatory factors, such as the U.S. Army Corps of Engineers’ oversight of dock permits and shoreline management, play a crucial role in determining property values. A skilled appraiser must have a deep understanding of these unique market drivers, as well as experience in analyzing comparable sales within the lakefront market. Traditional appraisal methods may not accurately capture the added value of a waterfront property’s premium features, necessitating a nuanced approach that accounts for aspects like water depth, topography, lake views from the home, boat dock type, navigation to and from the dock, location on the lake and access to amenities. Furthermore, the history of fluctuating lake levels and environmental regulations can impact a property's long-term value. As a result, hiring an appraiser with expertise in Lake Lanier real estate ensures a more accurate and informed property valuation, essential for buyers, sellers, and lenders navigating this specialized market. |