‘It’s going to be priceless’: A look inside the fiercely competitive Boone Lake real estate market | WJHL
SULLIVAN COUNTY, Tenn. (WJHL)- If a property on Boone Lake is priced right, it can be sold within 24 hours.
But there are too few properties up for sale around Boone, and too many eager buyers hoping to secure their piece of the lakefront. The result is a highly competitive and increasingly expensive real estate market.
“There are very high-ticket, high-level properties for sale. Million dollars on up,” said Steve Lohoff of Town & Country Realty.
Lohoff specializes in lake properties. He’s seen the effect the Boone Dam repair project and lowering of the lake in 2014 has had on the surrounding real estate market.
“It seems as though, in the first year or two, there were people who panic-sold. Especially…