And oceanfront homes are pricier, he said: “An acre of ocean property versus an acre of a lake one can cost up to five times more.” “Oceanfront properties can be more prone to flooding than lakefront homes, and insurance for flooding can be expensive,” he said. White Jr., Sotheby’s International’s president and chief executive. Lake living has some advantages, said Philip A. For the same period in 2020, that number was $80 million. Looking to a specific market, Flathead Lake in Montana saw $113.7 million in year-to-date real estate sales as of the end of August, according to the local agency PureWest Real Estate. One indicator of the interest: according to Sotheby’s International Realty, searches for lakefront properties globally on its site increased nearly 90 percent from January to September, compared with the same period in 2020. Oceanfront property is always in demand, but for many buyers lake properties are becoming an increasingly popular option. This article is part of our latest special report on Waterfront Homes.
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