One of the most common questions waterfront home buyers have for real estate agents is “how’s the market” or possibly how much did a certain home sell for. To best answer, we try to give facts rather than general statements. So let’s talk about Candlewood Lake, because every year Candlewood has enough sales to begin to see a pattern and establish meaningful statistics like average sale prices. We have always felt that Candlewood was a good weathervane for understanding prices in general. So here some facts regarding Candlewood Lake.
- In recent years, 2014 was the low point in the market
- Since 2014 buyers are more likely to offer less than asking price
- Since 2009 sellers are more likely to accept less than asking price and agree to concessions relating to building inspection issues
- Sales are more complicated with waterfront legal issues (docks, patios, trees, landscaping, boat size etc)