There are about 2,000 homes at Lake of the Pines.  I bet you would like to know how the real estate market in this community is performing this year.  You will be pleased and surprised to learn that Lake of the Pines real estate is really picking up in most price ranges.

The lower end of the price range, from the bottom to about $200,000 is sizzling hot.  Lower priced homes are flying off the shelves.  Why?  For the past two years investors have snapped up every low-priced house available.  Then, with historically low interest rates, first-time buyers have been chasing entry-level homes.  Also applying upward pressure on prices, folks who lost their homes in short sales and foreclosures several years ago, are emerging from the “penalty box” and re-entering the market, usually at the lower end.

This intense activity at the lower end has created an aenemic inventory of available homes for sale at Lake of the Pines.  Demand is high, supply is low.  Prices rise.  The momentum created by all the lower end sales is energizing home sales at the high price levels.  More and more homes between $200,000 and $400,000 are being sold.   Soon, the next price levels will beging to show quicker sales and higher prices.

HOMES SOLD IN THE PAST 12 MONTHS (02/06/12 – 02/06/13)

101 Lake of the Pines homes sold during the past 12 months

$990,000       highest priced sold

$65,625          lowest price sold

$246,951        average price sold

$230,000       median price sold

98                     average days on the market

$129.94            average price per square foot

ACTIVE SALES

25                    number of homes for sale as of 02/06/13

$1,999,000    highest priced  home for sale

$149,000        lowest priced  home for sale

$459,749        average priced  home for sale

$339,999        median priced  home for sale

141                    average days on the market

$209.91           average price per square foot (asking price not sold price which will be lower)

PENDING SALES

21                     number of pending sales at Lake of the Pines

114                     average days on the market when home went into contract

$304,137         average list price when home went into contract

$148.54            average price per square foot  when home went into contract