What was the highest priced lot sale at Lake Martin so far this year? What was the lowest priced lot sale so far this year? Are we still in a seller’s market? Are sales trending down?
The times they are a-changin’!
Waterfront home sales at the end of August this year total 204. This time last year they totalled 265. Our five-year average through August is 250 waterfront home sales. So yes, we are continuing to see a trend down in sales.
As you remember the big story of the past two years was sales dropping because inventory was low but that is not the case now with waterfront home sales.
Waterfront lot inventory has dropped the past three years. Lot sales for the end of August 2022 was 66 as compared to 74 lots sales for the same period of time in 2021. We are close to our five year average on lot sales.
The highest priced lot (and probably an all time high record) sold was in The Heritage for $3.1M. The Heritage is Russell Land’s newest neighborhood development at Lake Martin. And the lowest priced lot? Send me your guess or message me for the answer.
If there is any one thing you need to know as a buyer or seller in a changin’ market – it is information. I am a full time realtor at Lake Martin and have financial experience, real estate knowledge and a love for Lake Martin. I would be happy to help you with your real estate needs!