The Lake Oconee real estate market in Georgia showed some intriguing shifts in January 2025, offering key takeaways for buyers and sellers navigating the current landscape.

This month saw an average of 251 active residential listings, a notable 21.3% increase compared to January 2024. Much of the unsold inventory has spilled over into 2025. Meanwhile, active land listings dropped significantly to an average of 74, marking a 43.51% decrease from last year — largely due to the surge in new construction over recent years that has reshaped inventory levels.

Home prices remained strong, with the average residential list price reaching $1,303,810, reflecting a 5% uptick from the previous year. So far, prices have held steady, with no significant declines. Many sellers, locked into historically low mortgage rates, are hesitant to sell their homes unless conditions are just right.

However, the number of properties under contract declined, likely due to rates rising back above 7% for conventional loans. January saw 42 pending and under-contract listings, a 23.64% drop from last year. On market times also trended upward—land listings averaged 207 days (a 12.5% increase) while residential listings sat on the market for an average of 106 days, up 32.5% year-over-year. Given today’s environment of rising home prices and higher interest rates, it’s no surprise that more buyers are choosing to wait on the sidelines.

Sellers are adapting to this shifting demand. There were 45 price adjustments in January, slightly fewer than last year, but still a clear sign that some sellers are making reductions to attract hesitant buyers.

Closings, however, saw the most dramatic change. Only 30 land and residential transactions were finalized — a sharp 42.31% decline from January 2024.