According to the Lake Martin Area Association of Realtors, December residential sales (waterfront and non-waterfront) increased 11.4% year-over-year (Y/Y) from 44 to 49 closed transactions. Following seasonal trends, sales increased 58.1% from November. Sales increased 4.8% 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: December listings (366) decreased 10.3% from November and decreased 42.6% from one year ago. At the current sales pace, all the active inventory on the market would sell in 7.5 months, down from 13.2 months in November, and down from 14.5 months in December 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 December was $400,000, an increase of 70.2% from one year ago and a decrease of 24.9% from November. 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 December averaged 104 days on the market (DOM), 88 days faster than December 2024.
Forecast: December sales were 6 units, or 14.4%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 43 sales for the month, while actual sales were 49 units. ACRE projected 607 sales in the area year-to-date, while actual sales were 638, a difference of 5.0%.
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.
