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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