It’s a buyer’s and a seller’s market at Upstate lakes
From boating and water sports on Hartwell to enjoying the beautiful mountainous surroundings of Keowee, lake living is a big part of life in the Upstate.
If you want to live on the water, the New Year is a good time to start your new home search, according to Realtors Cindy Parker and Kathy Piccione of That Realty Group, both of whom specialize in lake lots and homes for sale.
A good time for buyers and sellers
Sales activity for lake properties picks up considerably in January as buyers start thinking about being in their new lake home by spring, according to Parker. The leading sales months on Lake Hartwell are January through August, with February, June, July and August the more popular sales months on Lake Keowee, figures show.
Presently, there are 165 properties listed for sale on Lake Hartwell and 153 for sale on Lake Keowee, according to data from the Western Upstate MLS. To date, there were 447 waterfront properties sold on Lake Hartwell in 2019 at an average sale price of $340,000 and 218 on Lake Keowee at an average sale price of $800,000, figures show.
“We expect the number of listings to increase in the New Year,” Parker said. “It’s a buyer’s and a seller’s market right now on the lakes, which makes this a unique point in time.”
Be cautious with online listings
Today’s consumers like to explore online before making a purchase, but buyers should be cautious when shopping online for real estate, especially waterfront properties, Piccione says.
“Oftentimes, analysts posting the data are located outside our market and they basically pull neighborhood comps without taking into consideration major price differentials such as a waterfront property with a dock vs. an interior neighborhood property with a slip dock,” Piccione explained. “The difference in pricing can be more than double, with two properties being equal or very similar.”
Using a local expert
When making a major investment such as lakefront properties and homes, using a local expert is a best practice, Parker and Piccione say.
“We both own lake properties and are very familiar with shoreline regulations, dock requirements and U.S. Army Corps of Engineers and Duke Energy regulations,” Piccione said. The Realtors also can help clients understand lake management processes and changing water levels.
Lake Hartwell is operated by the U.S. Army Corps of Engineers and Lake Keowee is operated by Duke Energy. A 56,000-acre lake, Hartwell borders South Carolina and Georgia and is one of the Southeast’s largest and most popular recreation lakes. Lake Keowee is an 18,372-acre manmade lake that was created to serve Duke’s power utility needs and for recreational purposes.
“When you’re looking at properties on the lake, we give you a personal boat tour so you can see properties from the water,” Parker said. “It’s important to understand access to the property by land and by water.”
It’s also important for buyers to know where amenities such as shopping and entertainment venues are located in relation to the property – something that an online search likely won’t reveal, Piccione adds. “We give buyers as much important information as possible related to the property to help them make the most informed decision,” she said.
The home depicted in the photos above is at 514 Galloping Ghost Road on Lake Hartwell in Anderson, SC. See complete listing information here.