According to the Lake Martin Area Association of Realtors, waterfront home sales during November decreased 42.1% year-over-year at 11 closed transactions. Sales decreased 52.2% from October.
For all the Lake Martin Waterfront housing data, click here.
Inventory: November listings (155) increased 1.3% from October and decreased 4.9% from one year ago. At the current sales pace, all the active inventory on the market would sell in 14.1 months, increasing from 6.7 months in October, and up from 8.6 months in November 2024. The equilibrium point where buyers and sellers have roughly equal bargaining power is 6 months of supply.
Pricing: The median sales price in November was $1,300,000, an increase of 62.5% from one year ago and a decrease of 6.1 from October. 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 November averaged 123 days on the market (DOM), 16 days slower than November 2024.
Forecast: November sales were 2 units, or 12.1% below Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 13 sales for the month, while actual sales were 11 units. ACRE forecasted a total of 257 sales in the area year-to-date, while actual sales were 260 units, a difference of 1.2%.
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.
