According to the Lake Martin Area Association of Realtors, waterfront home sales during September increased 50.0% year-over-year at 33 closed transactions. Sales increased 17.9% from August.
For all the Lake Martin Waterfront housing data, click here.
Inventory: September listings (166) decreased 10.3% from August and decreased 18.2% from one year ago. At the current sales pace, all the active inventory on the market would sell in 5.0 months, decreasing from 6.6 months in August, and down from 9.2 months in September 2024. The equilibrium point where buyers and sellers have roughly equal bargaining power is 6 months of supply.
Pricing: The median sales price in September was $1,025,000, an increase of 21.7% from one year ago and a decrease of 21.2 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.
Lake Martin homes sold in September averaged 128 days on the market (DOM), 82 days faster than September 2024.
Forecast: September sales were 2 units, or 6.5 above Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 31 sales for the month, while actual sales were 33 units. ACRE forecasted a total of 224 sales in the area year-to-date, while actual sales were 226 units, a difference of 4.0%.
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.
