lake martin waterfront home sales

By: Bryan Davis

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Sales: Lake Martin waterfront sales totaled 20 units during February, up 66 percent from the same period in 2016. Sales for February 2016 on Lake Martin’s waterfront totaled 12 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 February was 248 units, a decrease of 17 percent from February 2016 and 51 percent below the February peak in 2009 of 504 units. February inventory increased by 18 percent from January. This direction is consistent with historical data indicating that February inventory on average (2011-15) increases from January by 13 percent. There were 12.4 months of housing supply in February (6 months is considered equilibrium).

Demand: Waterfront residential sales increased 11 percent during February, from 18 units sold in January. Historical seasonal patterns indicate February sales on average (2012-16) increase by 10 percent from January.

Pricing: The Lake Martin waterfront median sales price during February was $350,000, an increase of 7.2 percent from February 2016 and a decrease of 5 percent from the prior month. 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.