What happened to waterfront real estate sales and inventory on Lake Martin, Alabama in the month of February?
Keep in mind that 2017 was the best year ever for real estate sales at Lake Martin. In February 2017 we had 20 waterfront home sales compared to 15 in February 2018. We had 13 waterfront home sales in February 2019.
If we take a look at year to date waterfront home sales we had 52 year to date in 2017, 28 in 2018 and 24 in 2019 – a sales decrease of 14%.
As I always remind you – real estate sales in Lake Martin are largely a seasonal market. It is hard to make a prediction for the coming months by just looking at January and February. Year to date for this year we are trending down from prior years.
Inventory in February 2018 totalled 206 waterfront homes for sale as compared to 258 in February 2019 which is an increase of about 25%. These figures include all waterfront properties for Lake Martin as well as condos and villas. So yes, inventory is increasing from last year but is still under our five year average.
Just so you know, I am getting my numbers from the Lake Martin Multiple Listings Service. These sales figures include all sales by all member agents, companies, and brokerages.
What about waterfront lots sold? In February 2018 – 11 lots were sold; in February 2019 (...drum roll please) 23 sold, which is an increase of about 110%. We are 64% above the five year average which is 14 waterfront lot sales.
Spring has sprung, the azaleas are blooming, the water level is up and the weather is warm! It is time to find some real estate deals at Lake Martin!
I’d love to help you out if you have any questions about the market. My name is John Coley and I am the broker / owner of Lake Martin Voice Realty I am a full time real estate agent here at Lake Martin. I sell homes, lots and condos on all areas of the lake. Feel free to give me a call or text me (334) 221-5862.