According to the Lake Martin Area Association of Realtors, September residential sales (waterfront and non-waterfront) increased 37.3% year-over-year (Y/Y) from 51 to 70 closed transactions. Following seasonal trends, sales decreased 7.9% from August. Sales increased 7.8% year to date. Two more resources to review: Quarterly Report and Annual Report.
For all of the Lake Martin Area’s housing data, click here.
Inventory: September listings (425) decreased 8.0% from August and increased 4.4% from one year ago. At the current sales pace, all the active inventory on the market would sell in 6.1 months, remaining the same from August, and down from 8.0 months in September 2024. The equilibrium point where buyers and sellers have roughly equal bargaining power is 6 months of supply.
Pricing: The area’s median sales price in September was $430,000, an increase of 29.1% from one year ago and an increase of 6.1% from August. 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.
Homes sold in September averaged 119 days on the market (DOM), 13 days slower than September 2024.
Forecast: September sales were 8 units, or 12.1%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 62 sales for the month, while actual sales were 70 units. ACRE projected 480 sales in the area year-to-date, while actual sales were 509, a difference of 6.1%.
Click here to view the entire monthly report.
The Lake Martin Area Residential Monthly Report is developed in conjunction with the Lake Martin Area Association of Realtors to better serve area consumers.
