Lake Murray is one of the largest man make lakes in the United States, but homeowners are hanging on to their waterfront lots, making them shoot up in value, say local South Carolina Realtors.

"Lake Murray is one of the most beautiful lakes in the Southeast," says Realtor Kendal Shelley. "There are several activities that you can do at the lake, including sailing, fishing, golf and events. Most of the homes on the waterfront are not for sale. This has pushed the price up when one goes up for sale."

"Lake Murray touches Irmo, Chapin, Lexington, Newberry and Columbia," says Realtor Rose Marie Averhoff. "It is much larger than most people imagine with many islands and coves. You better get a map, or you will get lost! We have wonderful properties on deep year-round water and on quiet coves that are more affordable. There are also some condominiums with lake access and view. The better the water, the higher priced the property. The further out you go the better the chances of finding something affordable."

She explains, "On the map, Lake Murray looks like a Christmas tree. Irmo, Chapin and Lexington are considered 'close-in' to downtown Columbia when it comes to lake living. They are also in the schools that rank highest and most desirable. Growth is everywhere with new businesses and hotels, restaurants, stores, and new home developments. Columbia is the 'Best Kept Secret in the Country."

"Nice Lake lots are scarce and hard to find these days," she continues. "Home Prices are at a premium. New condos will start to be constructed soon on the lake with a Marina. Lake Murray level is almost at its "regular level again. The dam is being re-enforced and Hwy. 6 is being widened and delays are expected going into Irmo and Lexington for another two years approximately."

"Approximately 41 miles long, 14 miles wide at the widest point and with over 600 miles of shoreline," says Realtor Mel Coker, "Lake Murray is a clean lake, as several municipalities draw drinking water from the lake. Lake Murray is popular for boating, fishing, sailing and water-skiing. There are many marinas and a number of waterfront restaurants on Lake Murray."

Coker explains, "The lower half of Lake Murray is closest to the Lake Murray dam and downtown Columbia. Nearby communities include Chapin, Ballentine and Irmo on the north side of the lake and Lexington on the south side. Prices are higher in this area, but medical and shopping conveniences are closer, too. The upper part of the lake is closest to the communities of Prosperity and Newberry on the north side of the lake and Saluda on the south side of the lake. These areas are much more rural in character and prices tend to moderate a bit."

"To enjoy Lake Murray, you may live on the lake or near the lake," he says. "For waterfront lots at Lake Murray, there are currently 117 active listings with at least 100 feet of water frontage. The price range is $42,690 to $1,300,000. The average price is $229,410. Lake Murray waterfront lot prices are impacted by location (generally nearness to the Lake Murray dam); community amenities, if any; view and waterfront in feet; and year-round water conditions. For waterfront homes at Lake Murray, there are currently 80 active residential listings with at least 100 feet of water frontage. These may include single family homes, condos, cottages, and mobile homes. The price range is $119,000 to $3,400,000. The average price is $712,154 (average square feet of 3,493). Lake Murray home prices are impacted by style, quality and age of construction, location (generally nearness to the Lake Murray dam); community amenities, if any; view and waterfront in feet; and year-round water conditions."

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Published: June 8, 2005

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