Lake Martin waterfront home sales in April up by 10 units over last year

Lake Martin waterfront home sales in April up by 10 units over last year
April sales were up 43 percent from a year ago and 14 percent from March. (iStock)

Click here to view or print the entire monthly report compliments of the ACRE Corporate Cabinet.

Sales: Lake Martin waterfront sales totaled 33 units during April, up 43 percent from the same period in 2016. Sales for April 2016 on Lake Martin’s waterfront totaled 23 units. It is important to note that even single-digit changes in the home sales total can cause double-digit percentage changes.

Supply: The Lake Martin waterfront housing inventory in April was 278 units, a decrease of 21 percent from April 2016 and 41 percent below the April peak in 2010 of 475 units. April inventory increased by 7 percent from March. This direction is consistent with historical data indicating that April inventory on average (2011-15) increases from March by 3.5 percent. There were 8.4 months of housing supply in April (6 months is considered equilibrium).

Demand: Waterfront residential sales increased 14 percent during April, from 29 units sold in March. Historical seasonal patterns indicate April sales on average (2012-16) increase from March.

Pricing: The Lake Martin waterfront median sales price during April was $375,000, an increase of 1 percent from April 2016 and 7 percent above the prior month. Pricing will fluctuate from month to month because of changing composition of actual sales (lakefront vs. non-lakefront) and the sample size of data (closed transactions) being subject to seasonal buying patterns. ACRE recommends contacting a local real estate professional for additional market pricing information.

The Lake Martin Waterfront Residential Monthly Report is developed in conjunction with the Lake Martin Area Association of Realtors to better serve area consumers.

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