lakefront property sales report lakes burton, … lake market report lakefront property sales report...

2013 Lake Market Report Lakefront Property Sales Report ‐ Lakes Burton, Rabun, Seed and Yonah

RE/MAX of Rabun 809 Hwy. 441, Clayton, GA 30525 706-782-7133

NOTE: If your property is listed with another real estate broker, please disregard this letter. Information contained herein is based on public records and is deemed accurate but is not guaranteed. The list includes all sales indicated by public records for Lakes Rabun, Seed and Burton from January 1, 2013 thru December 28, 2013. These include sales made by RE/MAX of Rabun, other brokers and individuals.

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Continued on Page 2

SOLD 2013

Location Lake Status Sale Price Ownership Structure Month Closed

1 Lower Basin Rabun Sold $2,700,000 Lease 5 BR/5 Ba/2 H Mar

2 Main Lake West Burton Sold $2,668,500 Lease 5 BR/5BA 2 HA May

3 Main Lake West Burton Sold $2,440,000 Lease 4 BR, 4.5 BA Dec

4 Wildcat Cove Burton Sold $2,400,000 Lease 4 BR/5 BA May

5 Moccasin Cove Burton Sold $2,250,000 Lease 5 BR/4 BA June

6 Deer Hill Burton Sold $2,191,800 Lease 4 BR/3 BA Jan

7 Timpson Cove Burton Sold $2,125,000 Lease 4 BR/4 BA/2 H May

8 Main Lake West Burton Sold $1,900,000 Fee 4 BR/4.5 BA May

9 Moccasin Cove Burton Sold $1,750,000 Lease 6 BR/3.5 BA Aug

10 Timpson Cove Burton Sold $1,750,000 Lease 4 BR/4.5 BA Apr

11 Main Lake West Burton Sold $1,728,875 Lease 4 BR/4BA May

12 Dick's Creek Cove Burton Sold $1,599,999 Lease 5 BR/5 BA/3 H June

13 Main Lake and Timpson Burton Sold $1,550,000 Lease Tear Down Oct

14 Main Lake NW Burton Sold $1,519,500 Lease 3 BR/2 BA Aug

15 Narrows Rabun Sold $1,499,000 Fee 4 BR/4 BA July

16 North End Burton Sold $1,350,000 Lease 5 BR/4.5 BA Nov

17 Dicks Creek Cove Burton Sold $1,350,000 Fee 5 BR/3 BA Feb

18 Main Body West Burton Sold $1,550,000 Lease 5 BR/4 BA Oct

19 Narrows Rabun Sold $1,250,000 Fee 4 BR/4/5 BA Oct

20 Dick's Creek Cove Burton Sold $1,050,000 Fee 4 BR/ 2 BA Aug

21 Main Body West Burton Sold $1,237,500 Fee 5 BR/4 BA Dec

22 Dick's Creek Cove Burton Sold $1,000,000 Fee Vacant Lot Apr

23 Dick's Creek Cove Burton Sold $995,000 Fee 4 BR/2 BA May

24 Acorn Burton Sold $956,200 Fee 3 BR/3 BA Oct

25 Main & Timpson Burton Sold $945,000 Lease 3 BR/2 BA Nov

26 Wildcat Burton Sold $895,000 Lease 4 BR/3BA Nov

27 Narrows Rabun Sold $885,000 Lease 4 BR/2.5 BA Oct

28 Pigeon Stretch Rabun Sold $875,000 Lease 3 BR, 1.5 BA June

29 Crow Creek near Dam Seed Sold $860,000 Lease 3 BR/4 BA Mar

30 Narrows Rabun Sold $825,000 Fee 3 BR/3 BA May

31 Moccasin Cove Burton Sold $800,000 Lease 4 BR/4 BA Dec

32 Spillway Basin near Dike Rabun Sold $750,000 Fee 6 BR/6.5 BA June

33 North End Burton Sold $719,000 Lease 3 BR/3.5 BA Apr

34 North End Burton Sold $715,000 Lease 4 BR, 3 BA Aug

35 Moccasin Cove Burton Sold $695,000 Lease 3 BR/2 BA Apr

LAKE FACTS—These facts help illustrate the size relationships of Lakes Burton, Rabun and Seed. The statistics shown are approxi-mate.

Burton Rabun Seed Totals

Fee Simple Lots 328 275 44 647 Leased Lots 844 210 97 1151

Total Lots 1172 485 141 1798

Shoreline (miles) 62 25 13 100

Elevation ASL 1866.6 1689.6 1752.5

Acreage 2775 835 240 3850

Year Impounded 1919 1915 1926

Continued from Page 1 (Dec. 28, 2013 Update)

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SOLD 2013 (cont’d)

Location Lake Status Sale Price Ownership Structure Month Closed

36 Timpson Cove Burton Sold $690,000 Lease Tornado Lot Apr

37 Big Basin Rabun Sold $680,000 Lease 3 BR/1.5 BA Aug

38 Big Basin Rabun Sold $677,236 Lease 3 BR, 2.5 BA June

39 Dick's Creek Cove Burton Sold $675,000 Fee 4 BR/2 BA Dec

40 Spillway Basin Rabun Sold $640,000 Fee 3 BR, 2.5 BA Sept

41 Main Lake NE Burton Sold $630,000 Fee 3 BR/3 BA Oct

42 Main Lake NE Burton Sold $600,000 Lease 1 BR/1BA Oct

43 Cherokee Cove Burton Sold $599,000 Lease 3 BR/2 BA July

44 Murray Cove Burton Sold $595,000 Fee 3 BR/2 BA +1 BR,1BA Mar

45 Timpson Cove Burton Sold $540,000 Lease 3 BR Shell Nov

46 Spillway Basin Rabun Sold $495,000 Fee 2 BR/1 BA Apr

47 Murray Cove Burton Sold $475,000 Fee Vacant w/dock July

48 Timpson Cove Burton Sold $381,000 Fee 2 BR/1 BA Aug

49 Crow Creek near Dam Seed Sold $378,000 Fee 1 BR/1 BA Oct

50 Timpson Creek Burton Sold $359,900 Fee 3 BR/2.5 BA Mar

51 Timpson Cove Burton Sold $345,000 Fee 3 BR/2.5 BA June

52 S.C. Side - no road Yonah Sold $325,000 Lease 1 BR/1 BA Apr

53 S.C. Side - no road Yonah Sold $315,000 Lease 3 BR/2 BA Mar

54 Wildcat Cove Burton Sold $300,000 Fee Vacant Lot Aug

55 Narrows Rabun Sold $280,000 Fee Old Store July

56 Narrows above Beach Rabun Sold $262,500 Fee 3 BR, 1.5 BA June

57 Perrin Cove Burton Sold $247,000 Fee 2 BR/1 BA Apr

58 S.C. Side - no road Yonah Sold $100,000 Lease Tear Down Mar

Median $842,500

Total Volume $60,365,010

Average $1,040,776

There have been at least 7 additional sales for which the transaction data is subject to a confidentiality agreement and is undisclosed.

Pending 2013 –Dec 28th

Location Lake Status List Price Ownership Structure

1 Timpson Cove Burton U/C $1,649,000 Lease 3 BR/2 BA

2 Murray Cove Burton U/C $1,895,000 Lease 4 BR/3 BA

3 Main Lake W Burton U/C $1,600,000 Fee 5 BR/3 BA

4 Dick's Creek Cove Burton U/C $1,495,000 Fee 4 BR/4.5 BA

5 Main Lake NW Burton U/C $1,299,000 Lease Tear & BH

6 Murray Cove Burton U/C $695,000 Fee Vacant

# of Sales Average Price Median Price Volume

2004 50 $ 1,072,220 $980,250 $ 53,611,000

2005 51 $ 1,222,111 $1,050,000 $ 62,327,675

2006 51 $ 1,399,675 $1,200,000 $ 71,383,417

2007 50 $ 1,572,203 $1,358,500 $ 78,610,160

2008 43 $ 1,343,712 $1,400,000 $ 57,799,600

2009 21 $ 1,625,363 $1,100,000 $ 34,132,630

2010 42 $ 1,197,298 $1,072,500 $ 47,891,911

2011 42 $ 1,385,341 $922,000 $ 56,799,500

2012 41 $ 952,737 $850,000 $ 39,062,219

2013 58 $ 1,040,776 $842,500 $ 60,365,010

Slides with Photos of Properties Follow

Information will be revised as needed

2013Lake Market Activity

Lakes Burton, Rabun, Seed & Yonah

Information from GAMLS and Public RecordsInformation deemed reliable but not guaranteed

Compiled by Scott PossRE/MAX of Rabun

Spillway Basin, Lake RabunList Price: $3,200,000 Sold Price: $2,700,000

List Date: 02/18/2013 Closed Date: 03/22/20135 bedrooms, 5 full baths, 2 half baths, 3.64 acres, Georgia Power Lease

5 Bedroom, 5 Baths, 2 half baths, .74 acre, 207 feet frontageMain Lake West, Lake Burton List Price: $2,895,000 SOLD: $2,668,500

Georgia Power Lease

4 Bedroom, 4.5 Baths, Dick’s Creek at Main Lake West, Lake BurtonList Price: $2,475,000 SOLD: $2,440,500 December 2013

Georgia Power Lease

Wildcat CoveLake Burton List Price: $2,599,000 Sold $2,400,000

4 Bedroom, 5 Bath, 1.55 acre Leased Lot

Moccasin Cove Lake Burton List Price: $2,495,000 Sold $2,250,000

5 Bedrooms, 4 baths, 1.36 acre, 209 feet lakefront, Leased Lot

Deer Hill, Burton Sold $2,191,800, 3.51 acres, Georgia Power Lease, 4 BR/3.0 $2,495,000 Closed Jan 2013 DOM 14

Timpson Cove, Lake BurtonNew 4 Bedroom, 4.5 Bath, Leased Lot

Lake Burton, List Price: $2,550,000 Closed Date: 05/24/2013 Sold Price: $2,125,000

Lake Burton, Governor’s Cove4 Bedrooms, 4.5 baths, 300 feet frontage, .43 acre, Fee Simple

List Price: $2,150,000 Sold $1,900,000

Moccasin Cove, Lake BurtonGeorgia Power Lease Lot, 6 BR, 3.5 Baths

Lake Burton List Price:$1,800,000 Sold $1,750,000 Closed August 2013

Timpson Cove, Lake BurtonList Price:$1,950,000 SOLD $1,750,000

New 4 Bedrooms, 4.5 baths, Boathouse, .93 acres, Georgia Power Lease

SOLD Main Lake West, Lake BurtonLake Burton, 4 BR, 4 BA, List Price: $1,850,000 Sold $1,728,875

Georgia Power Lease

Dick’s Creek and Main Channel, Lake Burton, 5 Bedroom, 5 Baths, 3 half baths, Elevator, Boathouse, Leased Lot

Lake Burton List Price: $1,599,999 Sold $1,599,999.

SOLD GAMLS 3013982 Lake Burton, Main Lake West Side, Closed Date: 10/28/2013Sold Price: $1,550,000, 5 BR, 4 BA, .802 acres, Georgia Power Lease

SOLD Main Lake and TimpsonLake Burton, Tear Down and Newer Boathouse, Sold $1,550,000

Closed October 2013

Lake Burton, Main Lake Northwest3 BR, 2 BA, Boathouse, List Price: $1,695,000 CLOSED $1,519,500

Closed October 2013

Lake Rabun Narrows Address: 61 Laughing Rock LnLake Rabun 4 BR, 4 BA, Fee Simple, List Price: $1,649,000 CLOSED $1,499,999

Sold - GAMLS 7079167 Lake Burton, North of Bridge Closed Date: 11/18/2013 Sold Price: $1,350,000

5 BR, 4.5 BA, Georgia Power Lease

Dick’s Creek Cove, Lake Burton5 BR, 3 BA, 2 FPL, Fee Simple, Last List $1,625,000, Sold Feb 2013 for $1,350,000

Lake Rabun, Narrows, Brandon Mill4 BR, 4 BA, Boathouse, List Price: $1,485,000 CLOSED $1,250,000

Closed October 2013

Lake Burton, Laurel Lodge Area5 BR, 4.5 BA, Boathouse, List Price: CLOSED $1,237,500

Fee Simple, Closed December 2013

Dick’s Creek CoveLake Burton 4 BR, 2 BA, Fee Simple, List Price:$1,295,000 CLOSED $1,050,000

Dick’s Creek CoveLake Burton List Price: $1,200,000 SOLD $995,000

4 bedroom, 2 bath with Boathouse, Fee Simple

Dick’s Creek Cove1.97 acre Fee Simple Vacant Lot, Lake Burton, List Price: $1,200,000, SOLD $1,000,000 April 2013

Lake Burton, Acorn Cove List Price: $950,000 Sold $956,2003 bedrooms, 3 baths, Boathouse, Fee Simple

Closed October 2013

Lake Burton, Main Lake and Timpson, Sold $945,0003 bedrooms, 3 baths, Boathouse, Georgia Power Lease, 1.09 acres

Closed October 2013

Lake Burton, Wildcat Cove, Sold $895,0004 bedrooms, 3 baths, Boathouse, Georgia Power Lease, .98 acres

Closed November 2013

Lake Rabun, Narrows, List Price: $995,000 Sold $885,0004 bedrooms, 2.5 baths, Boathouse, GA Power Lease

Closed October 2013

Pigeon Mountain Run, Lake RabunList Price:$1,000,000 Sold $875,000

3 bedrooms, 1.5 baths, Summer cabin, 1.36 acre Georgia Power Lease, Beach & Boathouse

East End, Lake SeedPrice: $999,000 Sold Price: $860,000

List Date:02/13/2012 Closed Date:03/22/20133 Bedrooms, 4 baths, .92 acre, 225 ft. lakefront, GA Power Lease large boathouse, renovated house

Upper Narrows, Lake RabunList Price: $1,000,000 Sold $825,000

3 bedroom, 3 bath, 5.29 acres fee simple, 210 feet lakefront

Moccasin Cove, Lake BurtonSold $800,000

4 bedroom, 4 bath, Georgia Power Lease, 2 Stall Boathouse

Lake Rabun near Dike½ duplex on 13.82 acres, 6 BR/6.5 BA, ½ boathouse, List Price:$925,000 SOLD $750,000

North end, Lake Burton, 3 BR/3.5 BA, 380 feet frontage List Price: $725,000 SOLD $719,000 April 2013

Georgia Power Lease

North end, Lake Burton, 4 BR/3 BA, Boathouse, GA Power LeaseList Price: $825,000 SOLD $715,000 Closed August 2013

Big Basin, Lake Rabun, Closed Date: 08/09/2013 Older 3 bedroom, 1 full bath, 2 half baths, Newer 2 stall, 2 story boathouse, Georgia Power Lease Lot, 1.34 Acre, Sold Price:$680,000

Moccasin Cove, Lake BurtonList Price: $874,900 SALE PRICE: $695,000 CLOSE DATE 4/4/2013

3 bedrooms, 1.5 baths, .61 acre, 210 feet lake frontage, GA Power Lease

Dick’s Creek Cove, Lake BurtonSALE PRICE: $675,000 Closed Dec. 2013

4 bedrooms, 2 baths, 2 Stall Boathouse, Fee Simple

Big Basin, Lake Rabun3 BR, 2.5 Baths. Georgia Power Lease List Price: $825,000 Sold $677,236

Lake Rabun, Spillway Basin, View of DikeList Price: $899,000 SALE PRICE: $640,000 CLOSED Sept, 2013

3 bedrooms, 2.5 baths, .45 acre, Boathouse, Fee Simple

Timpson CoveLake Burton. 1.35 acre, Vacant Georgia Power Lease Lot,

List Price: $897,000 Sold Price $690,000

Main Lake NE at Acorn, Lake BurtonList Price: $699,900 SOLD PRICE: $630,000 3 Bedrooms, 3 baths, Boathouse, Fee Simple

Closed October, 2013

Lake Burton, Main Lake NortheastSOLD PRICE: $600,000 CLOSED October 2013

1 Bedrooms, 1 baths, 2 stall boathouse, Georgia Power Lease

Cherokee Cove Lake Burton, 3 BR, 2 BA, Georgia Power Lease, List Price:$599,000 CLOSED $599,000

Timpson Cove, Lake BurtonSALE PRICE: $550,000 CLOSED November 2013

Lot with house shell, 2.13 acres, Georgia Power Lease

Murray Cove List Price: $595,000 SOLD PRICE: 545,000 CLOSED 3/21/2013

3 Bedrooms, 2 baths plus 1 BR, 1 BA Guest Cabin. 1 Acre

Piney Pt, Lake RabunList Price: $599,000 SOLD $495,000 April 2013

2 bedrooms, 1 bath, .28 acre fee simple, 1 stall boathouse

Murray Cove RdFee Simple lot with 2 slip boathouse platform, septic and well

Lake Burton List Date:04/25/2011 List Price:$499,000 CLOSED: $475,000

Lake Seed – Near Dam1 Bedroom, 1 Bath Cabin with 1 slip boathouse

List Price: $410,000 CLOSED: $378,000 Closed October, 2013

Timpson Cove Road, Lake Burton, Fee Simple, 2 BR with Loft and 1 stall boathouseForeclosure Sale, Listed at $315,000. Sold August, 2013 for $381,000.

Timpson Cove on Timpson Creekboatable area of creek joining Lake Burton upstream from Anchorage Marina

List Price:$359,900 Sold Price:$359,900 List Date:12/28/2012 Closed Date:03/12/20133 bedrooms, 2.5 baths, .39 acre Fee Simple

Timpson Cove, Lake BUrton3 Bedrooms, 2.5 Baths, Fee Simple, Dock onlyLake Burton List Price:$395,000 Sold $345,000

58 Lake YonahList Price:$349,000 SALE PRICE: $325,000 CLOSE DATE 4/1/2013

A-Frame cabin with 1 bedroom with loft, recently new boathouse, .78 acre Georgia Power Lease, no road access

86 Lake YonahList Price:$399,000 Sold Price $315,000 CLOSE DATE 3/22/2013

3 bedrooms, 2 baths, .64 acre Georgia Power Lease, no road access, no dock

Wildcat CoveLake Burton .57 acre Vacant Lot, Fee Simple, List Price:$425,000 CLOSED $300,000

Perrin CoveLake Burton, 2 BR, 1 BA, Dock and small frontage on Perrin Cove

List Price:$269,000 Closed Date:04/05/2013 Sold Price:$247,000

Lake Rabun RdList Price: $300,000 CLOSED $280,000

Old Store with dock, 1.25 Acres, Fee Simple, 100 feet lakefront

Lake Rabun Narrows above Rabun Beach3 BR, 1.5 BA, Fee Simple, List Price:$299,900 Sold $262,500

Lot 12 Lake YonahList Price: $199,000 Sale Price: $100,000

1 Bedroom, 1 bath, 2.1 acre Georgia Power Lease, no road access, no water or septic

At least 7 other lakefront properties have sold at undisclosed prices.

Under Contract - As of December 28, 2013, there are 6lakefront properties under contract with list prices of $695,000

to $1,895,000