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Sales: Lake Martin “waterfront” sales totaled 24 units during December, an increase in sales growth of 60 percent from the same period in 2014. This is just shy of the December peak in waterfront home sales at Lake Martin (26) established in 2013. Year-end sales through December were up 24 percent above 2014. Two more resources to review: Quarterly Report and Annual Report.

Click here to check out all of ACRE’s data on Lake Martin’s waterfront sales

Sales at Lake Martin’s waterfront totaled 24 units in December.

Supply: The Lake Martin “waterfront” housing inventory in December was 200 units, a decrease of 12.3 percent from December 2014 and 57 percent below (this is good news) the December peak in 2008 (461 units). In addition, December inventory decreased by 26 percent from the prior month. This direction is consistent with historical data indicating that December inventory on average (2010-14) decreases from November by 13.7 percent. There were 8.3 months of housing supply in December(6 months considered equilibrium in December NSA), a favorable decrease of 45 percent from last December 15.2 months of supply.

Demand:  “Waterfront” residential sales increased 26 percent from the prior month. This direction is consistent with seasonal patterns and historical data indicating December sales on average (2010-14) increase by 18.9 percent from November.

Pricing: The Lake Martin “waterfront” median sales price during December was $417,500, a decrease of 26.8 percent from December 2014 but virtually unchanged compared to the prior month. Historical data indicate that the December median sales price (2010-14) typically increases 5.5 percent from November. Pricing can and will fluctuate from month to month due to changing composition of actual sales (lakefront vs. non-lakefront) and the 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.

The average sales price for a Lake Martin waterfront home during December was $567,981.

On average, homes sold at Lake Martin’s waterfront area during December spent 250 days on the market.

Inventory has been on a steady decline since 2008 and dropped to 200 units during December.

The median sales price for homes sold at Lake Martin’s waterfront area during December was $417,500.

There was 8.3 months of supply at Lake Martin’s waterfront area during December.

Year-end sales were up 24 percent at Lake Martin’s waterfront area during December.

There were 24 homes sold at Lake Martin’s waterfront area during December as opposed 4 units during December 2007.

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 Residential Monthly Report is work product developed in conjunction with the Lake Martin Area Association of Realtors to better serve area consumers. The ACRE 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. Lake Martin Area Association of Realtors® is your premier source for real estate on Lake Martin, Alabama. Lake Martin is located in east central Alabama about 40 miles northeast of Montgomery and about 115 miles southwest of Atlanta. This Alabama Power Company reservoir encompasses 44,000 acres and has more than 700 miles of shoreline. 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.