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

Sales: Waterfront sales on Lake Martin totaled 37 units in September. Though the same number as the month prior, sales in September soared by 42 percent compared to last year, which established a new peak for the month. Year-to-date sales through September are up 23.7 percent from 2014.

Waterfront sales at Lake Martin were unchanged (37) in September from the prior month but the number was a new peak for the area in September. Sales were up 42 percent from last September.

Supply: The Lake Martin waterfront inventory in September was 309 units, a decrease of 10.7 percent from September 2014 and 45.3 percent below (this is good news) the month of September peak in 2008 (565 units). September inventory fell 12 percent from the prior month. This direction is consistent with historical data indicating that September inventory on average (2010-14) decreases from the month of August by 3.9 percent. There were 8.4 months of housing supply in September, a favorable decrease of 73.7 percent from the September peak in 2010 (31.8 months of supply).

Demand: September waterfront sale remained unchanged from August. This direction contrast with historical data that indicates September sales, on average (2010-14), decrease by 27.6 percent from the month of August.

Pricing: The Lake Martin waterfront median sales price in September  was $390,000, an increase of 20.6 percent from September 2014 and 2.6 percent above the prior month. This direction is consistent with historical data indicating that the September median sales price on average (2010-14) increases 4.3 percent from the month of August. Pricing can & will fluctuate from month-to-month due to the changing sample size of data (closed transactions) being subject to seasonal buying patterns. A broader lens as to pricing trends is appropriate and we highly recommend contacting a local real estate professional for additional market pricing information.

Industry Perspective: Steve Arnsberg, Vice President of Residential Sales with Russell Lands at Lake Martin: “We expect, given the very attractive interest rates coupled with reduced inventory, that the future will see more new construction. Recent additions at The Ridge and the new Cedar Point development are well timed to provide needed inventory to meet demand for Lake Martin waterfront homes. The reset in the list price to sales price ratio will continue for the foreseeable future. While the increase in property values is impressive, prices are still well below peak values of the mid-2000’s.

Go here for our broader Lake Martin Area report that includes Lake Martin (lakefront/non-lakefront homes), Alexander City, Dadeville and Horseshoe Bend.

The average sales price remains flat compared to the last three years at Lake Martin, but it rose 10.4 percent from last September.

Average days on the market for waterfront homes at Lake Martin during September have been up and down over the past decade. DOM rose to 153 (15.9 percent) from last September.

Inventory continues to drop from the peak of 565 units in 2008. Last month it hit 309 units listed for sale.

Median sales price for waterfront Lake Martin units has been flat since 2010, hitting $390,000 last month.

Months of supply continues to favorably drop for Lake Martin waterfront properties, hitting 8.4 months of supply in September.

Sales were 23 units ahead of the 2010 trough of 14 units.

37 units establishes a new peak for waterfront homes at Lake Martin in September.

Bryan Davis is the research/media coordinator for the Alabama Center for Real Estate housed within the Culverhouse College of Commerce at the University of Alabama. He can be reached at 205-348-5416 or at bkdavis@culverhouse.ua.edu.

The Lake Martin Waterfront Residential Monthly Report is work product developed in conjunction with the Lake Martin Area Association of Realtors to better serve area consumers. The Alabama Center for Real Estate monthly report is provided to illustrate the “general” market direction & trends when comparing prior periods with the most current residential data available. Real estate is local and statistics will fluctuate between areas including lakefront and non-lakefront dwellings. ACRE recommends that you consult a local real estate professional for “specific” advice associated with your market. The Alabama Center for Real Estate‘s core purpose is to advance the real estate industry in Alabama by providing relevant resources in the areas of research, education and outreach.