According to the Lake Martin Area Association of Realtors, waterfront home sales during April decreased 4.6% year-over-year at 21 closed transactions. Sales decreased 12.5% from March.
For all the Lake Martin Waterfront housing data, click here.
Inventory: April listings (198) increased 15.8% from March and increased 11.9% from one year ago. At the current sales pace, all the active inventory on the market would sell in 9.4 months, up from 7.1 months in March and up from 8.0 months in April 2024. The equilibrium point where buyers and sellers have roughly equal bargaining power is 6 months of supply.
Pricing: The median sales price in April was $1,357,000, an increase of 24.9% from one year ago and an increase of 78.0% from March. 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 April averaged 96 days on the market (DOM), 32 days slower than April 2024.
Forecast: April sales were 3 units, or 12.5%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 24 sales for the month, while actual sales were 21 units. ACRE forecasted a total of 71 sales in the area year-to-date, while actual sales were 81 units, a difference of 14.7%
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The Lake Martin Area Waterfront only report is developed in conjunction with the Lake Martin Area Association of Realtors to better serve area consumers.
