The market at Lake Martin is down from 2017 which was the best. year. ever. Statistics show that May 2018 year to date sales were lagging behind May 2017 – about 25 %. Year to date in May of this year there were 113 sales. There were 150 sales year to date for May 2017. These sales numbers include all agents all over Lake Martin.
How does the inventory compare in 2018 to 2017? At the end of May 2018 we had 272 homes on the market compared to 269 on the market at the end of May 2017. So we can’t blame the inventory for the lower sales this year.
Because 2017 was our best. year. ever. on Lake Martin, any year following may pale in comparison.
So what do I see for Lake Martin sales when I look in my crystal ball? I don’t think we are going to beat 2017 sales totals this year.
Another questions I get asked all the time is this one “What is the average sales price on Lake Martin?”
I checked the sales prices from January 2017 through April 2018. And then I searched sales for the same time period for homes that were built 2010 or newer. What did I find? I was shocked to find that 61% of homes built after 2010 on Lake Martin and sold were for $800K and over!
If you have any questions about how this may affect your home or lot that you own on Lake Martin or if you are considering Lake Martin as your next home – please give me a call. I’d love to help you out. My name is John Coley, and I am the Broker / Owner of Lake Martin Voice Realty.