Across the U.S., lake homes and lot listings have surged $5.9 billion since February, with 73,925 lake properties on the market nationwide. And by far the greatest number of listings are in Texas, which ranks No. 1 in the U.S. with 14,669 watery-view offerings.

That’s according to the Summer 2023 Lake Real Estate Market Report from Alabama-based Lake Homes Realty—which also notes that North Texas’ Lake Lewisville is No. 2 of all lakes in the U.S. for its number of home listings (903) beaten only by the far larger Lake Michigan in Illinois (1,029). 

Glenn S. Phillips, CEO and chief economic analyst at Lake Homes Realty, said the market is rebounding from “historic lows of available lake homes for sale in 2021 and 2022 across virtually every lake market.”

“While better, the selection of appropriately priced lake homes still needs to be improved,” Phillips said. “While softened compared to the last three years, it remains a seller’s market for lake real estate.”  

Lake Lewisville [Image: nathan4847/istockphoto]

$8.27 billion in Texas lake home and lot listings

Texas had $8.27 billion in lake home and lot listings across Texas, according to the same report. Texas is No. 1 in that category as well, with Florida a distant No. 2 with $4.74 billion in listings, followed by Washington state with $3.63 billion.

1,344 Texas lake homes listed for $1 million-plus

“From our millions of visitors to LakeHomes.com, we have access to a wealth of data that reveals consumer and market trends, patterns, and surprises,” Phillips said. “For example, in the red-hot Texas lake real estate market, 1,344 homes are listed for more than a million dollars. Forty-five percent of those searching for Texas lake property are between the ages of 45 and 64 and 62% of them are searching on their smartphones. Fifty-five percent of searchers for Texas lake homes and lots are male.”

Phillips added that of those searching for Texas lake property from outside of the state, the top metro areas doing the searching are Chicago, Oklahoma City, Minneapolis, and Los Angeles.

Why mortgage rate hikes may not hurt lake home sales much

Phillips predicts that rising interest rates won’t significantly impact lake real estate. “Lake home buyers often pay cash, particularly if it is a second home, so mortgage availability has little impact,” he said in the statement. “I encourage lake homeowners to view their property with an investment mindset. The peak market won’t last forever, and we’ll only see the peak after we’ve passed it.”

You can see the full report by going here.

Marina acquisitions are hot, too

Frisco-based TopSide Marinas has acquired Rock Creek Marina in Ozawkie, Kansas. [Photo: Rock Creek Marina]

Lake homes aren’t the only thing hot down by the water. Marinas are being snapped up, too—including by a company right here in North Texas.

Frisco-based TopSide Marinas recently made its second acquisition of 2023 and its sixth since it launched two years ago, according to the Dallas Business Journal. TopSide’s latest prize is Rock Creek Marina, a 188-acre full-service marina located on Perry Lake in Ozawkie, Kansas. 

Co-founder and CEO Stephen Lehn told the DBJ that his private, family-owned company initially aims to deploy about $150 million into marina acquisitions. 

Another North Texas company cashing in on the growing craze for lakes is Dallas-based RecNation Storage, a leading owner, operator, and developer of specialized recreational vehicle and marine storage facilities. RecNation recently boosted its credit facility to borrow up to $500 million to expand its growth. The company currently has 47 facilities spread across six states.

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