Don't believe what you think! Here's some data for Cedar Creek Lake, TX waterfront home buyers and sellers to chew on.
Higher priced homes ($600,000 to $2 million) are seeing their values drop while $400-600,000 are on the rise.
The run up that waterfront homes in the $200-300,000s were experiencing is retracting. It's time to buy a lakehouse!!!

Data obtained from the Henderson County Board of Realtors MLS
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