Lake Martin waterfront sales up in June 5 percent over last year

waterfront home lake martin al

LAKE MARTIN WATERFRONT SALES UP IN JUNE 5 PERCENT OVER LAST YEAR

By: Bryan Davis

Sales: Lake Martin waterfront sales totaled 45 units during June, up 4.7 percent from the same period in 2016. Sales for June 2016 on Lake Martin’s waterfront totaled 43 units. It is important to note that even single-digit changes in the home sales total can cause double-digit percentage changes.

Supply: The Lake Martin waterfront housing inventory in June was 274 units, a decrease of 14 percent from June 2016 and 44 percent below the June peak in 2010 of 489 units. June inventory increased by 1.9 percent from May. This direction contrasts with historical data indicating that June inventory on average (2011-15) decreases from May by 1.9 percent. There were 6.1 months of housing supply in June (6 months is considered equilibrium).

Demand: Waterfront residential sales increased 25 percent during June, from 36 units sold in May. Historical seasonal patterns indicate June sales on average (2012-16) increase from May.

Pricing: The Lake Martin waterfront median sales price during June was $550,000, an increase of 66.7 percent from June 2016 and 26.9 percent above the prior month. Pricing will fluctuate from month to month because of changing composition of actual sales (lakefront vs. non-lakefront) and the sample size of data (closed transactions) being subject to seasonal buying patterns. ACRE recommends contacting a local real estate professional for additional market pricing information.

The Lake Martin Waterfront Residential Monthly Report is developed in conjunction with the Lake Martin Area Association of Realtors to better serve area consumers

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