It would be difficult to quantify the benefits that our mountain’s TVA lakes have provided to our communities over the last 70 years. From flood control and power, swimming, fishing, power boating, canoeing; the list goes on and on. Personally, I believe Lake Blue Ridge is one of the crowning jewels of North Georgia. The water clarity alone is in stark contrast to the lakes I grew up on in South Alabama (not to mention the gators!). And then there’s real estate. I’ve enjoyed listening over the years to agents like Chris Berry, who have been visiting the lake all of their lives and can tell you stories of dock flotilla parties in the middle of the lake, legendary 4th of July celebrations, and can track back most of the lake property ownership transfers from memory. I’ve also enjoyed passing these stories onto new Fannin County residents, so that they can feel some ownership in our collective past. Regardless of what my clients are seeking, I try to make a trip to Morganton Point to show off one of our most beautiful assets. Even though the price usually prohibits further investigation, they always ask about the lake market – here is the answer for 2011 verses 2005, a high year for local real estate.
Lake Blue Ridge reported 26 total sales for 2011, with 20 residential and 6 lots. The Average Lot List Price was $389,650 with the Average Lot Sales Price of $325,983, representing an 84% discount. The lowest priced lake lot sold for $100,900 while the highest sold for $650,000. In contrast, 2005 recorded 10 lot sales on Lake Blue Ridge, with an Average Lot List Price of $643,200 and an Average Lot Sales Price of $593,500, representing a 92% discount. The lowest priced lake lot sold for $275,000, while the highest sold for $1,150,000 in 2005.
Lake Blue Ridge residence have held their value exceptionally well, especially when paired against the rest of the county’s real estate statistics. Of the 20 residences sold in 2011, the Average List Price was 986,180 and the Average Sold Price was 881,895, representing a 89% discount. The Lowest Priced home on Lake Blue Ridge sold for $371,500 and the highest priced home sold for $2,000,000. In contrast, there were 15 homes on Lake Blue Ridge sold in 2005, with an Average List Price of $1,052,679 and an Average Sales Price of $1,027,424. The lowest priced home sold for $322,000 and the highest priced home in 2005 sold for 1,875,500.