In 2025, we saw a noticeable increase in Lake Gaston properties listed for sale, but this surge doesn’t reflect a healthier market. While demand for lake real estate remained strong and practical, many homes sat stagnant because of overpricing.  Sellers, still believing in the booming market of previous years, are still here and clung to prices that no longer aligned with reality. The result? Transactions slowed; inventory stagnated.  Our days on market in 2025 for waterfront homes increased 44% over 2024 numbers.  As 2026 begins, we hope sellers will understand the new normal is adjusting prices to reflect current market realities.  As I have said many times, the market changes with every new listing and changes with every new sale.  Market value equals the price a buyer is willing to pay for a property. Market value is not what someone else thinks the property is worth.  If your home is not selling, you may need to adjust the asking price.

Buyers of Lake Gaston property are most often buying to be a second home, which is likely not a need but a desire. Prudent buyers know what they want and are not willing to overpay.  A second home is not something people have to have and most are willing to wait until the right opportunity comes along.

At year-end Lake Gaston REALTORS saw 186 waterfront home transactions close, averaging $959,087 each. Totaling $178,390,271 or an increase of 12.44 percent in dollar sales over 2024 sales.  The average selling price was 96.15 percent of the asking price in 2025. In 2024 it was 98.24 percent.  Offshore homes showed an increase in dollar sales of 15.47 percent over 2024 sales with 121 closed, averaging $219,323 each, totaling $26,538,074. Dollar sales of waterfront lots decreased 22.69 percent in 2025. Last year’s average selling price of $324,436 each totaled $14,924,067, Offshore lot sales increased 25.16 percent from 2024 levels averaging $32,665 each. Firms all around the lake closed on 435 total transactions of homes and land (lots) in 2025. In 2024 that figure was 431. The total dollar figure in 202 was $225,675,355. That is an increase of 10.22 percent from 2024’s figure of $204,743,200. Sales numbers are from the Roanoke Valley Lake Gaston Board of REALTORS® Multiple Listing Service (MLS) and do not include private sales.

The median sales price for waterfront homes in 2025 was $832,500, a 4.91 percent increase in median sales price over 2024. The median price for offshore homes was $201,000, a decrease of 8.22 percent in median sales price over 2024.  The median price of waterfront lots decreased by 10.10 percent compared to 2024 levels.

As many of you already know, waterfront home prices have increased dramatically since 2020, and the demographics of the lake have also changed in that period.  In 2025 there were 60 waterfront homes that closed for $1M or more with the most expensive selling for $3.4M.  In 2020, we saw only 9 waterfront homes selling for $1M or more with the most expensive selling at $1.95M. 

Nationwide, existing home sales grew in November, according to the National Association of Realtors® (NAR). Total existing home sales improved 0.5% from November and 1.0% decrease in sales year over year.

Pending home sales in November jumped by 3.3% from the prior month and 2.6% year over year, according to the National Association of REALTORS®.

Mortgage interest rates remain on the high side, 5.625 percent for a 30-year fixed rate mortgage on a primary home and 6.125 percent for a secondary home.  These rates are down a little more than one percentage point from a year ago.  The Fed also imposes a one-time fee for second home mortgages of 1.25 to 4.0 percent of the loan amount.  Mortgage rates are tied to the 10-year Treasury Note which is currently at 4.20%.  Last week President Trump instructed Fannie Mae & Freddie Mac to buy $200 billion in mortgage bonds in hopes of driving down mortgage rates as well as improving home affordability.  We will see what happens.

Our current inventory of quality homes is still very low. If you have been thinking about selling your home, now is a good time to start exploring your options.  Buyers are calling me to see homes at Lake Gaston. They want to tour homes that are in good condition and priced correctly. The inventory shortage could result in faster sales at a realistic price.  You need to work with a full-time REALTOR®, who provides written data such as this and pricing your home correctly is essential.

Barney Watson is Owner/Broker of Lake Gaston Real Estate LLC.  My cell is 252-532-3274, email is This email address is being protected from spambots. You need JavaScript enabled to view it.  and website is www.lakegastonrealestate.com.

REALTORS® around the lake agree that 2025 has been a challenging year for real estate sales.  The shortage of listings priced under one-million dollars continues as buyers wait eagerly to find affordable lake property.  Some buyers have already priced out of the waterfront home market.

In the first nine months of 2025 there were 136 waterfront homes sold, averaging $928,897 each totaling $126,330,021 in dollar sales.  The 2025 average price was up 13.05% compared to the same period in 2024. The median price of a waterfront home on Lake Gaston sold for $850,000 in 2025 compared to $752,500 in the same nine months of 2024. The total dollar sales of waterfront homes are up 18.26% in the first nine months of 2025 compared to the same time in 2024.

Offshore home sales this year totaled $18,937,725 compared to $17,037,861 in the first nine months of 2024 in dollar sales, an increase of 11.15%.  The average offshore home sold for $220,206 compared to $215,669 in 2024 during the same time, an increase of 2.10%.

Waterfront lot sales are down 32.0% in unit sales at 34 sold in 2025 and down 28.46% in dollars sales compared to 2024 sales for the first nine months.  The average waterfront lot has sold for $334,561 this year.  Offshore lot sales increased 23.66% in dollar sales in the first nine months of 2025 compared to 2024.

Our total market, homes and lots, dollar sales in the first nine months of this year total $166,948,956, an increase of 14,51% for the same time period of 2024. 

All figures are from the Roanoke Valley Lake Gaston Board or REALTORS Multiple Listing Service and do not reflect private sales.

If you have been thinking about putting your Lake Gaston property on the market now is a great time with interest rates beginning to decrease slightly.  We hope we will see the Federal Reserve cut interest rates more in the coming months.  We have buyers waiting for property priced according to the current market conditions. Give me a call or send me an email, I’ll be happy to give you my opinion of the value of your property.

Across the entire United States, National Association of REALTORS (NAR) reports existing home sales remained essentially the same in August 2025, falling 0.2% from July.

According to NAR Chief Economist Lawrence Yun, "Home sales have been sluggish over the past few years due to elevated mortgage rates and limited inventory. However, mortgage rates are declining, and more inventory is coming to the market, which should boost sales in the coming months."

In August 2025, NAR reports pending sales (homes that are under contract but not yet sold) rose 4% month-over-month in the Midwest, South, and West, and declined in the Northeast. Year-over-year, sales increased in all regions.

According to NAR Chief Economist Lawrence Yun, "Lower mortgage rates are enabling more homebuyers to go under contract. In the Midwest, low mortgage rates combined with high levels of affordability are attracting more buyers compared to other regions."

Freddie Mac reports that 30-year fixed rates fell this week to 6.30%, and 15-year rates to 5.53%, offering borrowers some relief.  They also report there is a very strong chance the Fed will cut interest rates another 25 basis points (1/4%) this month and the possibility of another cut in December. This is the rate banks loan each other money. The mortgage rates are tied more to the 10-year Treasury Note and the state of the economy.

The Consumer Confidence Index® dropped for a second straight month in September, falling 3.2 points to 94.2. This is the lowest level for the index in the past five months.

“Consumer confidence weakened in September, declining to the lowest level since April 2025,” said Stephanie Guichard, Senior Economist, Global Indicators at The Conference Board. “The present situation component registered its largest drop in a year. Consumers’ assessment of business conditions was much less positive than in recent months, while their appraisal of current job availability fell for the ninth straight month to reach a new multiyear low. This is consistent with the decline in job openings. Expectations also weakened in September, but to a lesser extent. Consumers were a bit more pessimistic about future job availability and future business conditions but optimism about future income increased, mitigating the overall decline in the Expectations Index.”

Some potential buyers may be sitting on the sidelines waiting for the uncertainty to play out. 

Barney Watson is the Owner of Lake Gaston Real Estate, LLC and Director of the Roanoke Valley Lake Gaston Board of REALTORS. Cell is 252-532-3274, email is This email address is being protected from spambots. You need JavaScript enabled to view it. and website is www.lakegastonrealestate.com.

In the first six months of 2025 our total closed sales in dollars, land and homes totaled $97,700,689 up from $85,622,159 in the same period of 2024 or an increase of 14.11%. Closed sales on waterfront homes were up 26.87% in dollar sales in the first six months of 2025 over the same period last year. We have closed 60 waterfront homes this year compared to 74 last year, a decrease in unit sales of 18.92%. The average price of waterfront homes sold in 2025 is $1,007,053 up 21.93% over the same period in 2024. The median price of waterfront homes sold in 2025 was $899,000, up from $775,000 last year or a 16.0% increase.  In the first half of 2025, there were 26 waterfront homes sold for over $1M with the highest selling for $3.1M.  The same period of 2024, 16 waterfront homes sold for over $1M with the highest selling for $1.74M.  Obviously, the increase in total dollar sales this year reflects selling higher priced homes.

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In the first four months of 2025 our total closed sales, land and homes have totaled $57,128,747 up from $53,716,174 the same period of 2024 or a increase of 6.35%. Closed sales on waterfront homes were up 22.39% in dollar sales in the first four months of 2025 over the same period last year. We have closed 43 waterfront homes this year compared to 45 last year. The average sold price of waterfront homes in 2025 is $1,054,530 up 28.08% over the same period in 2024. The median sold price of waterfront homes sold in 202 was $917,300, up from $749,000 last year or a 22.47% increase. There were 17 waterfront homes sold for over $1M in the first four months of 2025 as compared to 9 sold in 2024 with the most expensive being $2,775,000.

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The real estate market at Lake Gaston went through many changes in 2024 as did most of the country.  The first half of the year, we experienced multiple offers and waterfront homes selling for more than the asking price.  The second half of the year we saw buyer activity slow.  Increasing home prices and the rise in interest rates saw some buyers priced out of the second home market on Lake Gaston. We are still in a seller’s market with buyers waiting for new listings, priced at market value and in good condition to become available.  We have experienced several new listings, many overpriced or in need of major repairs.

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