According to the Lake Martin Area Association of Realtors, waterfront home sales during June decreased 3.7% year-over-year at 26 closed transactions. Sales decreased 10.3% from May.
For all the Lake Martin Waterfront housing data, click here.
Inventory: June listings (183) decreased 6.6% from May and 16.4% from one year ago. At the current sales pace, all the active inventory on the market would sell in 7.0 months, up from 6.8 months in May and down from 8.1 months in June 2024. The equilibrium point where buyers and sellers have roughly equal bargaining power is 6 months of supply.
Pricing: The median sales price in June was $1,217,880, an increase of 5.9% from one year ago and an increase of 5.9% from May. 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 June averaged 116 days on the market (DOM), 40 days slower than June 2024.
Forecast: June sales were 7 units, or 21.2%, below Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 33 sales for the month, while actual sales were 26 units. ACRE forecasted a total of 133 sales in the area year-to-date, while actual sales were 136 units, a difference of 2.2%
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.
