Red hot. Sizzling. Busy. Crazy. All words that could be used to describe the real estate market at Tims Ford Lake in 2021. While the pandemics and politics raged on, many sought a place to get away from it all, and lakefront property was the answer. In fact, demand for vacation homes across the United States was up 77% from pre-pandemic levels in December, according to Redfin.
So let’s look at the numbers from last year and take a peek into 2022 expectations.
- A total of 63 lakefront homes were sold in 2021, with an average price of $850,323.
- 35 lakefront lots sold, with an average price of $181,249.
- The average days on market for listings was 21.
- The number of lakefront homes currently for sale is 10 (as of this writing in January).
- The number of lakefront lots available is 9 (as of this writing in January).
- The average list price for homes currently on the market is $1,877,250. (Don’t let that number scare you, there are a few very high dollar listings at the moment that skew that average!)
Now let’s compare some of those numbers with 2020.
Lakefront homes sold
2020 – 104 with average price of $685,000
2021- 63 with average price of $850,000
Lakefront lots sold
2020 – 14 with an average price of $92,000
2021 – 35 with an average price of $181,000
Average days on market for listings
2020 – 68
2021 – 21
The demand for homes has been much more than the available inventory. Fewer homes available resulted in fewer home sales and higher prices. Sound familiar?
What did come on the market sold even faster in 2021, as buyers lined up ready to pounce.
As a result it seems, buyers looked to purchase more readily available lakefront lots to build on, greatly increasing the lots sold in 2021.
So where does it go in 2022?
The quick answer is the market will likely continue to stay hot. However, we are keeping an eye on the Federal Housing Finance Agency’s move just this week to raise fees on high balance second home loans. The fees are expected to increase the purchase cost of second homes and homes in high cost areas, and will go into effect April 1.
While it seems interest in second homes is starting to stabilize, we expect demand to remain high this year. Tims Ford is still the place to be for so many reasons, and we are hoping to help more folks join us here to start living the lake life! We will see ya at the lake in 2022!
Thinking about moving to Tims Ford Lake?
We would love to help! We live and work on Tims Ford Lake – it’s our happy place and we would love to help you make it yours! Use the searches below to start your home search or contact us directly for a personal tour of the lake (on our boat!) or just to chat about your home buying needs. You should also check out our previous blog post, Buying a Home on Tims Ford Lake-4 Things to Consider!
Below are trending searches for real estate on Tims Ford Lake. Click the links to see available active listings.
- Search all Homes for Sale on Tims Ford Lake
- Search all Lakefront Homes for sale on Tims Ford Lake
- Search all Lakefront Lots for Sale on Tims Ford Lake
- Search all Tims Ford Lake Homes for Sale on Hopkins Point
