Liberty on the Lake in Savoy and Champaign continues to hold high interest levels for new construction home sales even though the ownership has been in a state of limbo and developer-held lot sales delayed. Recent sales in 2013 point to what could be another strong year for the neighborhood.
Despite the fact that developer-held lots have been on hold for the past 3+ months we are still seeing quite a bit of activity in Liberty on the Lake. On the Savoy side of the neighborhood there are currently 4 homes in progress with the foundation for a 5th currently going in. These new construction homes in Savoy have progressed because the lots were owned by individual homeowners and builders. There are still a few lots held by individuals that are available for sale.
The rumor is that the current developer-held lots will be purchased by a another local developer who has a great track record of past success. They would be able to come in and get lot and home sales moving quickly and fully open this subdivision to home buyers and builders.
How have Liberty on the Lake sales fared in the past few months? Take a look at the chart below. Liberty holds one of the largest lakes in a Champaign County subdivision as well as what will be a very large commons area (approx 7 acres). These features along with walking trails and a very convenient location have helped spur sales over the last few years.
The average sale price of the 2-Story homes was a little over $316,000. Ranch properties varied widely depending on the size of the home, between $251,299 and $300,497. Home sites on the lake and commons contain a premium for location but for the most part, all of the lots in Liberty are well placed depending on your personal preference.
Interested in the market value of a specific property in Liberty on the Lake? As a Realtor who lives in the subdivision I pay very close attention to the values and activity in the area. Contact me online or call 217-239-7114 with questions or for more information.