By: Brian Davis
Click here to view or print the entire monthly report compliments of the ACRE Corporate Cabinet.
Sales: Lake Martin waterfront sales totaled 35 units during July, a decrease of 16.7 percent or seven units from the same period in 2015. Year-to-date sales on Lake Martin’s waterfront are 11.5 percent below the same period a year ago. It is important to note that even slight single-digit changes in the home sales total can cause double-digit percentage changes.
Click here to check out all of the Alabama Center for Real Estate’s data on Lake Martin’s waterfront sales.
Supply: The Lake Martin waterfront housing inventory in July was 313 units, a decrease of 12.8 percent from July 2015 and 47 percent below the July peak in 2009 of 597 units (this is good news). July inventory also decreased by 1.3 percent from June. This direction is consistent with historical data indicating that July inventory on average (2011-15) decreases from June by 3.1 percent. There were 8.9 months of housing supply in July (6 months is considered equilibrium in July).
Demand: Waterfront residential sales decreased 18.6 percent during July, from 43 units sold in June. Historical seasonal patterns indicate July sales on average (2011-15) decrease by 8.5 percent from June.
Pricing: The Lake Martin waterfront median sales price during July was $385,000, a decrease of 0.6 percent from July 2015 and an increase of 16.7 percent from the prior month. Historical data indicate that the July median sales price (2011-15) typically decreases 6.7 percent from June. Pricing 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. 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.
