The Lake Martin real estate market posted good waterfront sales for November, 2011.
The Lake Martin MLS* reports that 8 waterfront homes, condos, and town homes were sold in November. This includes all real estate agents, all brokerages, on the entire lake, that are members of the Lake Martin Area Association of Realtors.
It meant that November in 2011 was not as good as November 2010’s 10 homes sold, but was good enough to push the 2011 total above the 200 barrier to 203. This is significant because Lake Martin real estate market has not seen waterfront home sales above 200 since 2006 scored 235 sales.
This year’s number of waterfront homes sold so far on Lake Martin has surprised me. After a strong summer and fall, I thought that we would end the year with 205 or so total. Hitting 203 with one more month to go is very encouraging. My revised estimate for the entire year is 210 or so homes sold, which, as mentioned, will be the best since 2006.
Will December 2011 beat December 2010? I doubt it. Last year there were 12 waterfront homes sold through the MLS. That’s strong – the best December since I have been tracking the numbers in 2005. The average amount of Lake Martin homes sold in December has been about 6 if you look at 2005 – 2011.
If that holds true, Lake Martin will be on a two month losing streak to the prior year. Does this bode ill? Not necessarily, in my opinion. Firstly, it’s hard to be anything but happy with the best year’s sales since 2006. Secondly, we have learned that the winter months can be unreliable predictors. To wit, 2007 had an awesome first quarter before totally tanking.
I won’t slice the numbers too much this month; I need to save my strength for my year end review later this month. But in case you are interested, there was another waterfront lot sale on Lake Martin in November:
Also the sales versus the prior month chart is as expected, November posted a loss versus 2010 but overall the year was great:
Waterfront lot sales for Lake Martin property sold through the MLS were also strong in November.
Strong lot sales on Lake Martin this year could mean a good year for the construction industry. Granted, total waterfront lot sales are only about 60% of their peak in 2006, but hey, over 30 is a good year.
As I mentioned above, I will put a greater amount of emphasis on the year end numbers. I will wait a week or so more to make sure that all realtors and brokerages on Lake Martin have finalized their reporting to the MLS, so please stay tuned!
Lake Martin Real Estate Sales 2011 – October 2011
Lake Martin Real Estate Sales 2010 – Lot Sales
Lake Martin Real Estate Sales 2010
Lake Martin Real Estate Sales 2009 – Year In Review
Lake Martin Real Estate Sales 2008 – Year In Review
Lake Martin Real Estate Sales 2007 – Year In Review
(*)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 waterfront sales on Lake Martin, Alabama.