As noted in a previous Blog, waterfront home sales are down compared to last year. Let's take a look at the individual counties along Barkley and Kentucky lakes to see how they have been doing during the Summer market. All data is from the Western Kentucky Regional MLS as of Sept. 6, 2016.
This report considers Single Family (S/F) homes sold since April 1, 2016 through August 31, 2016. All homes are waterfront properties on Lake Barkley or Kentucky Lake and may or may not have a dock or a slip. Combined from the 4 counties around the two lakes, 39 units closed during these Summer months. On average, they were on the market for 187 days before closing and when they did close, they brought $128.93 dollars per square foot. ( Note that while $128.93/ sqft was the average of all sales, homes with a dock or slip brought $136.71 $/ sqft. while those without a dock or slip brought only $93.47 $/sqft.).
Of course, each county around the lakes has it's own figures. (Note that I have not included Livingston county in this report.) From April 1, 2016 to August 31, 2015 individuall county market statistics looked like this:
County #Sales Avg. DOM Avg Sales Price Avg $/Sqft.
Trigg 16 249 $338,031 $ 117.26 Lyon 9 126 $344,556 $136.96 Marshall 11 168 $275,045 $142.14 Calloway 2 110 $215,000 $135.83
What can you gather from the above figures? While Trigg county has taken the longest to sell a property, and even though the listing price was nearly the most, the house sold as the lowest dollar per square foot. A Buyer would conclude that Trigg county represents the best value for the dollar spent. Marshall county, with the highest $/squft. also has a lower average sales price. Calloway sales are notable mostly to the fact that there were only 2 waterfront sales all summer.
So there you have the latest information on Waterfront Home sales around the two lakes. Do not forget that most figures are averages and in order to get an average you need a higher number and a lower number. Charlie