The pandemic has set the Lake Oconee real estate market on fire. Activity at the lake continues to soar with no signs of slowing down. Luxury real estate boomed as a result of the migration of many who have had the opportunity to work efficiently from home, prompting them to reassess their priorities. Many have moved out of the city, where they have spent months in closed quarters, into our area where they can have so much more space, house, and land. As a Realtor® for over 20 years, I share with you the real estate trends I am currently seeing:
“Big is Back”
In the midst of the pandemic, families who were stuck in closed quarters re-evaluated their living spaces and upgraded to bigger homes with multiple offices, a large kitchen, a home gym, and more ‘room to roam.” Lake Oconee has been a place of refuge for urbanites who spent their quarantines in their second homes. Many of them have not returned to the cities after the shelter-in-place, and are buying larger homes where everyone in the family can get comfortable together indoors and outdoors.
“Home Offices are In”
Before the pandemic, buyers loved media rooms where families can gather to watch movies and sports. This changed with the rise of remote working and children’s virtual learning. Nowadays, the priority is to find a home that offers quiet and dedicated spaces for parents and children to work. Google search trends for “home office”, “home gym”, and “home amenities” have remained high since the start of the pandemic.
“Pool is Cool”
Customized and trendy pools are “in” providing the ultimate staycation for many families who cannot travel like they used to. Pools with built-in bars, spas, and other amenities are hot trends, and spending quality time becomes another important priority.
“In Search of Greener Pastures and… Acreage”
The desire to own a refuge away from the densely populated city has become apparent with more families wanting bigger lots to have room for outdoor spaces, amenities, and bigger backyards. COVID fueled the desire for more land to build a family compound.
Multi-generational living is on the rise with grandparents moving in with their adult kids and grandchildren.
As the pandemic continues to shape the real estate industry, be strategic about your short and long-term goals. If you are considering selling or buying, work with a Realtor® you can trust. An experienced Realtor® who has a finger on the pulse of the market and who is out in the trenches daily becomes invaluable when you are making a big decision under the current circumstances. If you are considering buying or selling, contact us at Luxury Lake Oconee Real Estate. We are a group of full-time real estate professionals with proven records of success, offering a combined experience of over 40 years in Lake Oconee real estate.