Waterfront home sales were the best ever in 2020 at Lake Martin, Alabama. What did sales look like in April 2021?
For the month of April we had 33 home sales compared to 30 sales in April last year. With the five-year average of 29, it seems obvious to me that we are in an increasing market.
Looking at the year to date waterfront home sales we have a total of 113 homes sold through April 30, 2021. Compared to the same period of time for 2020, we will recall it was 92. That is an about 23% increase. I think that most of Lake Martin homes sold in 2020 that closed before April 30 were not really Covid-19 influenced. Here in Alabama, our big quarantine really didn’t hit until the middle of March, 2020. It took another three or four weeks for Alabamians (and those visiting us) to decide to buy everything in site. It will be interesting when we start to compare 2021 numbers with months that were heavily influenced by the virus, such as June, July and August, 2020.
If we turn our attention to inventory, otherwise known as Lake Martin waterfront homes for sale, we see that supply is way down. To me, that is as big a story as the huge sales. We are finding that at any given time, our available waterfront homes for sale on Lake Martin are but a fraction of what they normally are this time of year.
Waterfront lot sales on Lake Martin have tracked along a similar trend as home sales. Lot inventory has decreased about 50% from five years ago. Sales of waterfront lots are up 300%. No, that is not a typo. 300%!
While looking at the April numbers I also thought it would be fun to look at the number of Lake Martin MLS members. If you divide the number of MLS members by the number of available homes for sale at Lake Martin (that are already under contract), you arrive at 7.2 agents per home for sale on the entire lake. This will make for an interesting scene to watch in the upcoming months at the lake!
If you would like to reach out and talk to me, I’m John Coley with Lake Martin Voice Realty. I do this for a living – I’m a full time realtor here. This is all I do. I don’t have any other side jobs and am not smart enough to keep up with any other real estate market. I’m 100% and 12 miles deep at Lake Martin, Alabama.
I’d love to help you find or sell your Lake Martin property! Of if you are just curious as to what improvements would be a good investment for your lake property, let me know. Just give me a call! 334-221-5862 .