THE FALLOFF IN DOCK PRICES has been fairly consistent with the fall in real-estate prices. In some places where dockominium inventory may be higher, or other issues may be at play, it’s even worse than the real-estate dip. Many realtors familiar with selling docks
report prices seem to be hitting their floor. Here are some snapshots from around the country.
Nathan Diones, owner/broker of Live Lake Arrowhead, a company that specializes in the
more exclusive Southern California lakes, says prices have softened by 30-40 percent in the
past few years.
In nearby Big Bear Lake, sales have fared worse. “A few years ago there was a waiting list
and 18-25-foot docks were selling for $60,000 to $70,000. Now you can get them for $19,000
to $30,000.” While that may seem like a bargain, the short season and affordable rental prices (seasonal rates at Big Bear Lake start at $1,500) still may not make sense for buyers.
In Duncan Bay Boat Club in the Straits of Mackinac on Lake Michigan, seasonal rates for
2011 were $75 a foot, including electricity, water, and cable TV. Transient dockage was $1.25 a
foot. Prices on docks for sale fluctuate wildly, depending on location and how eager someone
is to sell, from $19,000 for a 40-foot dock, to $50,000-plus for those 60 feet and up.
At Kingman Yacht Center on Cape Cod, Massachusetts, dock prices have remained high,
partly because the supply of slips is decreasing due to environmental permitting for private
homes to put in or reconstruct docks, according to marina manager Tara Plugge. There were
no sales in 2010. In 2008 the marina sold nine docks. In the past few months, sales have
ranged from $2,750 per foot to $3,200 per foot, based on location and slip size. A 40-foot
dock is currently on sale for $120,000, about the same asking price as three years ago, when
some docks were priced closer to $3,300 per foot, says Plugge. The story is similar with rent-
als. “Based on my research in our geographic area, dockage costs have held relatively steady
over the past four years. We really haven’t seen the market slump hugely, just a decrease in
occupancy and a decrease in the number of buyers for docks.”
Relatively little has been written in recent years about dockominiums and there
isn’t always a “go-to” spot to find listings — unless you’re looking in the mid-Atlantic or
Southeastern states, where you’ll find lots of realtors familiar with what’s available. A good
place to start are websites such as docksearch.com; dockrealty.org; marinas.com/slips_for_
sale/, or sometimes craigslist or yacht brokers list sales on their websites. – A.D.
we had between seven and 10,” McCoy
says. “Economies like this are difficult for
everyone, but we all have a little savings.
This year it seems that people finally gave
up trying to hold on.”
While that’s unfortunate for those
who’ve lost their slips, it’s been an advan-
tage for those on the other side of the
market. “Docks that were $150,000 five
years ago,” says McCoy, “are now selling for
$80,000 or $90,000, particularly if they’re
Kirby Marshall, Market Sector Leader
with ATM, a U.S.-based global consulting
marine engineering company that does a
lot of marina development work, says that
2007-2008 was the pinnacle of the boom
for dockominiums. The company still keeps
tabs and monitors slips sales for some
of their clients in South Florida. “We’ve
PHOTO: LISA HEMMERT (2011 PHOTO CONTEST ENTRY)
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