ALABAMA REAL ESTATE JOURNAL

Lake Martin’s waterfront home sales up 25% year-over-year in December

According to the Lake Martin Area Association of Realtors, waterfront home sales during December increased 25.0% year-over-year from 12 to 15 closed transactions. Sales decreased 21.1% from November 

For all the Lake Martin Waterfront housing data, click here. 

Inventory: December listings (191) increased 17.2% from November and increased 89.1% from one year ago. At the current sales pace, all the active inventory on the market would sell in 12.7 months, up from 8.6 months in November and up from 8.4 months in December 2023. The equilibrium point where buyers and sellers have roughly equal bargaining power is 6 months of supply. 

Pricing: The median sales price in December was $965,000, a decrease of 15.4% from one year ago and an increase of 20.6% from November. The differing sample size (number of residential sales of comparative months) can contribute to statistical volatility, including pricing. ACRE recommends consulting with a local real estate professional to discuss pricing, as it will vary from neighborhood to neighborhood. 

Lake Martin homes sold in December averaged 191 days on the market (DOM), 6 days faster than December 2023.  

Forecast: December sales were 3 units, or 28.9%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 12 sales for the month, while actual sales were 15 units. ACRE forecasted a total of 258 home sales year-to-date, while there were 260 actual sales through December, a difference of 1.0%.     

Click here to view the entire monthly report. 

The Lake Martin Area Waterfront only report is developed in conjunction with the Lake Martin Area Association of Realtors to better serve area consumers. 

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