Lake Murray - Beautiful South Carolina Lake!

Lake Murray Information by Mel Coker, Columbia's Realtor...

Check out my Lake Murray information to learn all about this wonderful lake in South Carolina. 

 Lake Murray has been named by BOATING MAGAZINE as one of the Top Ten lakes in the United States for living and boating.

LAKE MURRAY WEBSITE by Mel Coker
LAKE MURRAY BLOG by Mel Coker
(recent posts: Lake Murray 360 degree panorama, Lake Murray time lapse, church services on Murray)

More Cool Lake Murray Links:
Lake Murray eBook
Lake Murray Facts (printable in PDF)
Lake Murray 360 degree Panorama
Lake Murray Time Lapse

Mel Coker
RE/MAX Metro Associates
(803) 223-6214 office
Lake Murray & Columbia Real Estate

Lake Murray websites

Mel Coker's TWO Lake Murray websites:

As a reminder, I have TWO sources of Lake Murray information on the Internet:
http://www.lakemurray-sc.com/
and, a Blog: http://www.lakemurrayblog.com/

Lake Murray is South Carolina's BEST fishing hole and a great place for fun and watersports.

Check out my NEW Lake Murray YouTube video:




Lake Murray video in HD!

Lake Murray Sales Update - Waterfront Lots

An Update from Mel Coker
Lake Murray Waterfront Lots

I've just finished a detailed analysis of Lake Murray waterfront lots closed during the past 5 years and current sales activity. Buying a lot on Lake Murray is still a very viable option to enjoy lake living. One of my clients bought a lake lot last year and started building their dream Lake Murray home just this past week with my recommended builder.

For my analysis, the "average" Lake Murray lot is: less than 1.5 acres, has a minimum of 100 feet of water frontage. Also, my base year for minimum price is 2004 at $75,000. The average minimum price has been adjusted each each for the previous year price change percentage. I've even tracked average discount from final list price for sales prices.
(For average prices and number of sales, percentage changes are from previous year; average days on market includes 25% adjustment for expireds and withdrawns)


2004
Number of sales: 44 DOWN 12.0%
Average price: $183,813 UP 22.6%
Avg. DOM: 381
Avg. discount from final list price: 5.87%

2005
Number of sales: 85 UP 93.2%
Average price: $204,994 UP 11.5%
Avg. DOM: 276
Avg. discount from final list price: 5.26%

2006
Number of sales: 79 DOWN 7.1%
Average price: $217,391 UP 6.0%
Avg. DOM: 215
Avg. discount from final list price: 6.0%

2007
Number of sales: 61 DOWN 22.8%
Average price: $246,145 UP 13.2%
Avg. DOM: 168
Avg. discount from final list price: 5.1%

2008
Number of sales: 30 DOWN 50.8%
Average price: $276,096 UP 12.2%
Avg. DOM: 262
Avg. discount from final list price: 10.1%

2009 (thru June 30)
Number of sales: 13 DOWN 13.3%
Average price: $251,262 DOWN 9.0%
Avg. DOM: 422
Avg. discount from final list price: 10.8%


Currently, there are 184 lots for sale on Lake Murray (meeting my criteria above) with an average sales price of $336,502. The average days on market is 434 days. Obviously, the asking price for many lots is way too high based on the much higher price compared to actual closings over the last several years, a very high DOM and the large number of lots for sale.

Other important highlights:

• the number of lots closed annually has decreased the past 3 years and is on pace to decrease again in 2009.
• average closed prices in 2009 are showing the possible first ever price decrease on Lake Murray
• there is enough current inventory at Lake Murray to last app. 7 years at the current sales pace

NOW may be the time to BUY your Lake Murray lot! When you're ready to BUY or SELL a Lake Murray lot, be sure to contact Mel Coker. I am a lake resident and I know Lake Murray!

Lake Murray website

Lake Murray Blog

Buy a lot, get on Lake Murray.

Lake Murray eBook by Mel Coker

Mel Coker's Lake Murray eBook

Please check out my new Lake Murray Guide in e-Book format. You will find interesting Lake Murray information along with some great pictures. CLICK on the eBook below to open in full screen mode and then "turn" the pages to read.
"Issuu Lake Murray e-Book" link:
www.issuu.com/mcoker/docs/lakemurray
PDF format:
http://www.lakemurray-sc.com/lakemurray.pdf

Open Mel's eBook - Free publishing

Mel Coker
MelCoker.com
LakeMurray-SC
Lake Murray Blog
Search Columbia Real Estate

Lake Murray Boating Season Starts

Boating Season is about to start on Lake Murray!


Warm weather brings an increased level of boating traffic on Lake Murray. Are you ready for fun? Is your boat equipped for safety? Do you know boating basics and laws for operating a boat safely?

Nationally, over 69% of all fatal boating accident victims drowned. Of those who drowned, over 89% of the victims were not wearing a life jacket. Over 83% of the boaters who drowned were using boats less than 26 feet in length. Consistent with previous years, 75% of reported fatalities occurred on boats where the operator had not received boating safety instruction.


Did you know? Only 7 states have a higher number of boats registered than South Carolina? South Carolina's Number of Deaths per 100,000 Registered Boats is lower than the national average? (2.3 vs. 5.3)

Links for more South Carolina Boating information:
The Handbook of South Carolina Boating Laws and Responsibilities
South Carolina Online Boating Safety Course and Exam
South Carolina Department of Natural Resources
Boating in South Carolina
Check a Watercraft/Motor Status


Check the weather:
Lake Murray Weather Station
Mel Coker's Columbia Weather Page

Boating Safety:
Lake Murray Power Squadron Boat Smart Course
National Safe Boating Council
Safe Boating Campaign
Boating Safety - U.S. Coast Guard
FloatPlan Central
2007 Boating Accident Statistics (read this!)

Mel Coker, Columbia, SC Realtor

Ready to Buy or Sell in Columbia, SC?
Contact Mel Coker

Click to learn more...
All About Mel Coker
Columbia, SC Real Estate
MelCoker.com
MelCoker.info
Search Columbia MLS
All Real Estate Agents Are Not The Same

Call Mel Coker: (803) 749-5800 office or (803) 318-2007 cell
Mel's Contact Form

Lake Murray Update

Lake Murray Update

I will attempt to start providing a Lake Murray update periodically on my Columbia blog and on my new Lake Murray blog. The update will be on the 15th and last day of each month through the end of summer on the Lake Murray blog and on the last day of each month on my Columbia blog. The blog will cover current lake levels, current water temperature and upcoming significant events on the lake.

Click here for my new Lake Murray Blog

Today, we had our warmest temperatures (low 80's) for the new year. So, I saw lots of boaters and fishermen on the lake today.

March 7th stats:

Lake Murray water level: 358.01 (essentially highwater mark for a typical summer)

Water Temp (Fahrenheit) (top): 53.2

Live at Lake Murray - Mel's Lake Murray listings:

Lake Murray Access #1

Lake Murray Access #2

Lake Murray Waterfront near Prosperity & Chapin

Search Columbia MLS

Mel Coker

Columbia, SC Realtor

Lake Murray Sales Report

Lake Murray Sales Update

I've put together the most complete Lake Murray sales update you will find anywhere. My family has enjoyed living on Lake Murray for 6 years now. We bought a lot on Lake Murray in the Chapin area in 2001, built one year later and moved in during August 2002. We love Lake Murray living!

Lake Murray is one of the finest lakes in all of the South. The lake is approximatley 41 miles long and has over 640 miles of shoreline. The lake has fantastic fishing and is a great place for boating and water sports. We enjoy going out for lunch or dinner by boat.

More information:

Mel Coker's Lake Murray website

Mel's Lake Murray Blog

Sales Report as of February 26, 2009:

Current waterfront homes for sale on Lake Murray:

#195

Average Price: $742,221

Avg. square feet: 3280

Avg. $/s.f.: $226.45

Avg. Days on Market (DOM): est. 218 *

*Avg. DOM: the MLS provides a DOM number, but, this does not include homes listed for sale and never sold, and homes listed and withdrawn from market and re-listed and those listed that expired and were re-listed. My previous analysis of such situations reveal on average a number that is in the range of 25% higher for DOM. So, my DOM figures includes this 25% upward adjustment.

The current average listing price is higher than expected or normal due to the somewhat higher number of Million dollar listings currently active on Lake Murray. Currently, there are 35 homes for sale on Lake Murray listed at $1,000,000 or more. In fact, the average price of these 35 homes is $1,648,676 with an average dollars per square foot of $299.83. The average DOM is at least 231 days. The bad news is the fact that only 4 million dollar homes sold on Lake Murray in 2008 (only 3 sold in 2007). Consequently, there is enough current inventory to last over 8 years. If you are in the market for a really expensive home or million dollar home, you're in luck because there is great selection of such homes and pricing may be very good. It's definitely a buyer's market for such homes.

Excluding the million dollar homes reveals a market analysis of active homes for sale that is in much closer proximity to the actual closed results in 2008:

Active homes for sale on Lake Murray (excluding Million dollar homes):
#160
Average Price: $543,934
Avg. square feet: 2795
Avg. $/s.f.: $194.61
Avg. Days on Market (DOM): est. 216

Closed waterfront homes on Lake Murray in 2008:
#98
Average Price: $545,431
Avg. S.F.: 2884
Avg. $/S.F.: $189.10
Avg. DOM: 144

Further analysis of Lake Murray waterfront home sales over the past 5 years:

2004: (over the previous year)
Number of sales: UP 19.8%
Avg. Price ($/S.F.): UP 19.4%

2005:
Number of sales: UP 10.1%
Avg. Price: UP 6.9%

2006:
Number of sales: DOWN 11.1%
Avg. Price: UP 13.1%

2007:
Number of sales: DOWN 3.7%
Avg. Price: UP 4.7%

2008:
Number of sales: DOWN 25.2%
Avg. Price: DOWN 5.2%

Lake Murray is still the water playground for central South Carolina! When you're ready to buy or sell on Lake Murray, contact Mel Coker.

Mel Coker
http://www.melcoker.info/
Columbia SC real estate

Another Lake Murray update

Lake Murray is one of the nicest and most popular lakes in the Southeast.

It IS South Carolina's most popular lake. When completed in 1930 , Lake Murray was the largest power reservoir and Dreher Shoals Dam the largest earthen dam in the world. For more Lake Murray information, check out my Lake Murray website at: http://www.lakemurray-sc.com/ (check lake levels, weather, fishing license information, order a Lake Murray poster suitable for framing)

Upcoming Lake Murray events:

• March 20th - Taste of Lake Murray - call NOW for tickets
• July 5th - July 4th Fireworks Spectacular on the lake
• August 14-17 - Forrest Wood Cup - the biggest prize money ($1 million to the winner) fishing tournament in the world will be at Lake Murray

The Lake Murray water level is now at the near "full" mark. Today the water level is 357.7. The normal late spring and summer water level is approximately 358 feet above sea level. Check the water level, get weather reports and more from my Lake Murray website. Now is a great time to plan a Lake Murray guided fishing trip. Contact Captain Buddy at Sunrise Fishing Service. Visit his website or call 319-8722 and tell Captain Buddy that Mel Coker sent you over.

Want to live in a community with Lake Murray acccess? I currently have 3 beautiful homes for sale on the North side of Lake Murray with lake access. One is a home in Wexford on the Lake with a community boat ramp (near Irmo). I also have TWO new homes for sale in Night Harbor subdivision (near Chapin). Both of these all brick homes have a boat slip already paid for by the Builder in the community marina. Check out my website for more details and cool virtual tours. Contact Mel Coker to buy or sell ANY Columbia area real estate.