According to the Lake Martin Area Association of Realtors, waterfront home sales during October increased 4.5% year-over-year at 23 closed transactions. Sales decreased 30.3% from September.
For all the Lake Martin Waterfront housing data, click here.
Inventory: October listings (153) decreased 7.8% from September and decreased 20.7% from one year ago. At the current sales pace, all the active inventory on the market would sell in 6.7 months, increasing from 5.0 months in September, and down from 8.8 months in October 2024. The equilibrium point where buyers and sellers have roughly equal bargaining power is 6 months of supply.
Pricing: The median sales price in October was $1,550,000, an increase of 36.6% from one year ago and an increase of 51.2 from September. 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 October averaged 148 days on the market (DOM), 37 days slower than October 2024.
Forecast: October sales were 3 units, or 13.85% above Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 20 sales for the month, while actual sales were 23 units. ACRE forecasted a total of 244 sales in the area year-to-date, while actual sales were 249 units, a difference of 1.88%.
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.
