The second-largest lake real estate market located entirely within South Carolina, Lake Murray is one of the most highly sought after lake markets in the state.
With its approximate 600 lake listings totaling more than $213 million this summer, this lake represents 13% of South Carolina’s total $1.6 billion lake real estate market value.
But how does Lake Murray real estate compare to that of other great South Carolina markets like Lake Greenwood, Lake Wateree and Lake Keowee?
Dive into the majesty of Lake Murray.
Availability of Sellable Inventory
According to LakeHomes.com’s 2019 Summer Lake Real Estate Market Report, Lake Murray reported a total of 594 lake homes, land and commercial properties for sale on and around its 650 miles of shoreline, or 10% of all lake properties for sale in the state.
Lake land and home listings were almost equal in number at 298 and 296, respectively.
By comparison, Lake Keowee, the state’s largest lake real estate market, listed just five more homes for sale along its 300 miles of shoreline and in the surrounding area.
Lake Greenwood– which has more than 430 fewer miles of shoreline than Lake Murray – featured 334 total listings this summer, of which 102 were homes for sale and 232 were land listings.
Similarly, Lake Wateree reported a total for-sale inventory of 171 properties – 77 homes and 94 land listings – along and surrounding its 242 miles of shoreline.
Average Home Price and Affordability
It’s true lakes Greenwood and Wateree do have lower average home prices.
However, because average home price calculations are dependent upon the number of properties in the mix, Lake Murray still has plenty of affordable properties for buyers to shop.
Currently, Lake Murray homes are listing at roughly $523,000 on average.
According to Lake Real Estate Market Report price distribution data, 67%, or about 200 out of 296 homes for sale on Lake Murray this summer, are listed at $500,000 or below.
On Lake Greenwood, homes priced below Lake Murray’s average price total about 86 and about 65 properties on Lake Wateree.
Lake Keowee has the highest average home price of these markets at $938,000. Only 96 of this market’s 301 homes for sale are listed at or below $500,000.
Want to Know More?
If you’re interested in learning more about Lake Murray, feel free to download a complimentary Lake Real Estate Market Report.
This quarterly report offers exclusive real estate market data pulled directly from more than 100 MLS platforms across the country to bring you the most comprehensive collection of lake market comparison information available.
Lake Homes Realty agents Cat Thornton, Doug Geisler and Michael Murphy, can also provide additional insights about the Lake Murray real estate market, details about the Lake Murray community and more.
Contact them today at firstname.lastname@example.org