Sales: Lake Martin “waterfront” sales totaled 12 units during February, a decrease of 20 percent or three units from the same period in 2015. Year-to-date sales on Lake Martin’s waterfront are the same as it was through February 2015. Two more resources to review: Quarterly Report and Annual Report.
Click here to check out all of ACRE’s data on Lake Martin’s waterfront sales
Supply: The Lake Martin “waterfront” housing inventory in February was 301 units, a decrease of 8 percent from February 2015 and 40 percent below (this is good news) the February peak in 2009 (504 units). In addition, February inventory did increase by 22 percent from the prior month. This direction is consistent with historical data indicating that February inventory on average (2011-15) increases from December by 11.5 percent. There were 25.1 months of housing supply in January (6 months considered equilibrium in December NSA).
Demand: “Waterfront” residential sales remained the same at 12 units compared to the prior month. Historical seasonal patterns indicate February sales on average (2011-15) increase by 24 percent from January.
Pricing: The Lake Martin “waterfront” median sales price during February was $326,500, a decrease of 7 percent from February 2015 and a decrease of 37 percent from the prior month. Historical data indicate that the February median sales price (2011-15) typically increases 27 percent from January. 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.
The Lake Martin Residential Monthly Report is a work product developed in conjunction with the Lake Martin Area Association of Realtors to better serve area consumers.