Lake Martin MLS* waterfront home sales did not match the sun and fun for August 2008.
July 2008 waterfront home sales turned in a winner, beating 2007’s mark and giving us hope of the start of a rally.
Unfortunately, August did not repeat, turning in a lukewarm 20 sales, about the same amount for August 2007.
Once again, the old supply and demand thing continues to nag Lake Martin just like the rest of the country. It was heartening to see the first reduction (from 527 to 518) in active listings since November of 2007. The overall active waterfront listings did dip, perhaps (hopefully) beginning its annual cold weather slide:
Another interesting thing to note is the amount of waterfront lots that are for sale right now on Lake Martin. I must admit I was surprised, and triple checked this number. Would you belieive that in August there were 152 lots for sale, and only 2 sold? Check this table:
This confirms the c-store talk among real estate agents. Given these numbers, and scanning the MLS, I think that any buyer looking at Lake Martin as a pure investment play needs to consider a lot. Especially if you don’t want a lot of upkeep. Lots are low maintenance. If this applies to you, let me know, I have a new lot listing that you might like.
I will wait another week or so to post results for 3Q08. I try to give it several weeks after the calendar end date to post results, as a lot of agents lag behind a bit in entering their results into the Lake Martin MLS.
Are you thinking about selling, and would like to know how I would use the above information to sell your property, despite all of the doom and gloom? Contact me. It can be done! Let me share some success stories with you.
(*)Disclaimers: All of the above info was taken from the Lake Martin Area Association of Realtors Multiple Listing Service. Accuracy is not guaranteed but deemed reliable. The above does not include sales by FSBOs or developers that sell privately and not through the MLS. But, I do think that the above represents a very large majority of all sales on Lake Martin.