According to the Lake Martin Area Association of Realtors, waterfront home sales during January increased 100.0% year-over-year from 8 to 16 closed transactions. Sales increased 6.7% from December.
For all the Lake Martin Waterfront housing data, click here.
Inventory: January listings (131) decreased 31.4% from December and increased 33.7% from one year ago. At the current sales pace, all the active inventory on the market would sell in 8.2 months, down from 12.7 months in December and down from 12.3 months in January 2024. The equilibrium point where buyers and sellers have roughly equal bargaining power is 6 months of supply.
Pricing: The median sales price in January was $942,250, a decrease of 27.8% from one year ago and a decrease of 2.4% from December. 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 January averaged 213 days on the market (DOM), 113 days slower than January 2024.
Forecast: January sales were 9 units, or 128.6%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 7 sales for the month, while actual sales were 16 units.
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.
