Lake Martin October residential sales up 2 percent over last year

On December 5, 2015   /   Lake Martin Real Estate  
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lake martin market news october 2015

By: Bryan Davis

Click here to view or print the entire October report compliments of the ACRE Corporate Cabinet.

Sales: Lake Martin area* residential sales totaled 42 units in October, an increase in sales growth of 2.4 percent from the same period last year. This also establishes a new October peak after 41 units were sold a year ago. Year-to-date sales through October are up 28 percent above 2014. Two more resources to review: Quarterly Report and Annual Report

Forecast: October sales were 2.4 percent or one unit above our monthly forecast. Alabama Center for Real Estate’s (ACRE) year-to-date sales forecast through October projected 432 closed transactions while the actual sales were 525 units, a rise of 21.5 percent.

Supply: The Lake Martin area housing inventory in October was 448 units, a decrease of 14.8 percent from October 2014 and 38 percent below (this is good news) the October peak in 2008 (722 units). In addition, October inventory decreased by 6.5 percent from the prior month. This direction is right in line with historical data indicating that October inventory on average (2010-14) decreases from September by 3.3 percent. There were 10.7 months of housing supply in October (6.0+/- months considered equilibrium in October NSA), a favorable decrease of 16.9 percent from last October’s 12.8 months of supply.

Demand: Residential sales slipped 17.6 percent from the prior month. This direction is consistent with seasonal patterns and historical data indicating October sales on average (2010-14) decrease by 6.4 percent from September.

Pricing: The Lake Martin area median sales price in October was $306,150, an increase of 22.5 percent from October 2014 but a 7.2 percent decrease compared to the prior month. Historical data indicate that the October median sales price (2010-14) typically decreases 10.8 percent from September. Pricing can and will fluctuate from month to month due to changing composition of actual sales (lakefront vs. non-lakefront) and the sample size of data (closed transactions) being subject to seasonal buying patterns. A broader lens as to pricing trends is appropriate and we highly recommend contacting a local real estate professional for additional market pricing information.

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134 Foxwood Trail : Lake Martin, AL

On November 27, 2015   /   Lake Martin Real Estate  
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134 foxwood trail

134 Foxwood Trail : Lake Martin , AL
3 Bedroom 2 Bath

‘The Cabin’ has been renovated into a wonderful cozy lake home. New from inside out with heart pine flooring, wood walls, red windows, brick fireplace, ceiling beams, hand painted cabinets with all new stainless appliances, granite kitchen counters, new bath fixtures, lighting, and ceilinb fans. Outside has wrap around porch, covered deck.

CLICK HERE FOR DETAILS

 

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Lake Martin residential median sales price sets new September peak in 2015

On November 7, 2015   /   Lake Martin Real Estate  
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september 2015 sales on lake martin al

By Alabama Center for Real Estate (ACRE)

The median sales price for residential properties at Lake Martin shot up in September, compared to the past decade in the area.

For ACRE’s full Lake Martin residential report, click here. 

Lake Martin’s median sales price for the month was $330,000, establishing a new peak for the month, as the previous high had been $270,000, established in 2008.

Last September, the median sales price for Lake Martin homes was $186,000, a 77.4 percent difference, year-over-year. The median sales price as also up 13.8 percent from the prior month and was 51.7 percent above the five-year average of $217,600, established between 2010-14.

Year-to-date, the median sales price is up 5.3 percent from last September.

For ACRE’s full PDF report of Lake Martin homes, click here. 

Bryan DavisAlabama Center for Real Estate (ACRE)

The Lake Martin Residential Monthly Report is work product developed in conjunction with the Lake Martin Area Association of REALTORS to better serve area consumers. The ACRE monthly report is provided to illustrate the “general” market direction & trends when comparing prior periods with the most current residential data available. Real estate is local and statistics will fluctuate between areas including lakefront and non-lakefront dwellings. ACRE recommends that you consult a local real estate professional for “specific” advice associated with your market.

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Lake Martin “Waterfront” Real Estate: September median sales price continues slow and steady rise

On October 30, 2015   /   Lake Martin Real Estate  
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lake martin waterfront

By Alabama Center for Real Estate (ACRE)

Lake Martin Waterfront prices held steady in September, compared to the previous five years, according to the Lake Martin Area Association of Realtors.

For ACRE’s full report on Lake Martin Waterfront sales, click here. 

Median sales price at Lake Martin for waterfront properties rose 20.6 percent year-over-year in September. The $390,000 median sales price was also a 2.6 percent rise from the prior month.Alabama Center for Real Estate (ACRE)

The September median sales price for Lake Martin Waterfront properties peaked out at $750,000 in 2008 but dipped to below $300,000 the following year.

The area has enjoyed slow and steady gains since 2010, with a five-year average price of $358,495 between 2010-14.

Year-to-date median sales price rose 6.5 percent over last year to $370,639.

From August, the median sales price rose 2.6 percent from $380,000.

For ACRE’s PDF September Lake Martin Waterfront housing report, click here. 

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