Report: Prices up on lake houses
The average price of homes listed for sale on Lake Hamilton rose more than a third from spring to summer, according to information compiled by a nationwide aggregator of lake real estate listings.
Data Lake Homes Realty said it gathered from multiple sources and synthesized into its 2017 Summer Lake Hamilton Report showed the average price of the close to 400 homes listed on Lake Hamilton has risen 34 percent since March to $566,830.
Luke Anthony, senior communications specialist for Lake Homes Realty, said it’s common for lake property values to surge during the summer.
“This is just the nature of lake real estate,” he said. “Lake homes are often second homes, and as such, lake real estate has more activity in the summer months, when buyers pay more attention to the lake, and listings typically go up.
“Many are still under the impression that lake real estate is still struggling after the 2008 crash. For Lake Hamilton, a price jump of 34 percent for the summer indicates a very healthy summer market.”
The report said home listings on the lake rose from 359 to 386 since March, with listings for land/lots increasing from 127 to 136 over that time.
Anthony said about twothirds of the state’s residential lake property is on Lake Hamilton.
“Lake Hamilton is the undisputed king of lake real estate in Arkansas,” he said. “Roughly two-thirds of all the lake homes in the state are on Lake Hamilton. The nearest lake with a larger market is Oklahoma’s Grand Lake more than 200 miles away.
“That gives Lake Hamilton more stability, since it’s so well known, and also makes it more of a draw. With a stable market, high demand and convenience to Hot Springs, Lake Hamilton is the epicenter of lake real estate in Arkansas.”
Anthony said the total price of homes listed for sale on Lake Catherine is up 14 percent since March. Total listings on Norfork Lake in Mountain Home have risen 35 percent over that time, Anthony said. Beaver Lake in northwest Arkansas has seen its aggregate price listings drop 30 percent since March, and listings on Table Rock Lake on the Arkansas and Missouri border have dropped 23 percent since then.
Anthony said Lake Homes Realty compiles its nationwide listings from multiple listing service data that it filters through an algorithm to find homes for sale near lakes.