Sanford Lake Sales- 2021 vs. 2020 post dam failure

The Sanford Lake Real Estate Market had a fantastic performance in 2021, showing a very promising increase from 2020. The average sales price increased nearly $90,000.

It is clear consumer confidence is greatly increasing regarding the return of the lake. The Four Lakes Task Force made tremendous progress in 2021 with planning, sourcing funding, and keeping the community in the loop via their website and regular communications. We are currently awaiting a final bill to be passed that secures 250 million dollars to repair and rebuild our dams on all 4 lakes.

There were trends in both N Lakeview Drive neighborhood and Sunset Way where an influx of sales occurred, creating great opportunities for many new families!

Another data point in why the lakefront pricing increased nearly 30% in 2021, is that in addition to the uncertainty we faced, many sales in 2020 were homes that were damaged in the flood and remained damaged. Of course, a gutted home that needs a complete or large-scale remodel is going to sell for significantly less and have a reduced buying pool.

vs 2020

The Sanford area also had an incredible performance as a whole, with a whopping 155 closed sales in 2021, with an average sales price of $210,000, average discount of 3.5%, and average days on market of 26. People have seen what an incredible community we are and have a desire to live here with our tight knit and STRONG people!

Looking to sell or buy in 2022? Contact me today for a free consultation- also available for consultations via Zoom!