Lake Martin waterfront real estate had another good month in October 2009. There were 14 homes sold in the month, just about equaling the 15 waterfront properties sold in October 2008, according to the Lake Martin MLS*.
Once glance at the above chart can tell you that most real estate sales in the Lake Martin area really taper off in November and December. Therefore I think it’s safe to say that most of our sales for 2009 are behind us, and we can start looking at the year as a whole.
2009 was a great year for Lake Martin waterfront real estate. Market wide, we have already outsold both 2008 and 2007. In fact, I think the numbers show that our rally started back in August or September of 2008. That’s why I am not too concerned that October 2009 was beaten by October 2008 by one sale. By October of 2008 we were on a winning streak that continues to now.
On another positive note for sellers, the number of homes for sale on Lake Martin has come down this month.
Perhaps this trend will continue until the normal seasonal buildup in January.
I will save a full analysis for a bit later. For now, I just wanted to dash off this quick post for October’s results. But I will go ahead and say that, after a closer look at the numbers, I will probably be “calling the bottom” for our market. Who knows what the short term future will hold, but I think it’s fairly obvious that, long term, the worst is behind us.
Please comment below….
(*)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.