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

Sales: Lake Martin waterfront sales totaled 21 units during October, down 19 percent from the same period in 2015. Year-to-date sales on Lake Martin’s waterfront are 12 percent below the same period a year ago. It is important to note that even single-digit changes in the home sales total can cause double-digit percentage changes.

Lake Martin waterfront home sales dropped by five units year-over-year in October.

Supply: The Lake Martin waterfront housing inventory in October was 254 units, a decrease of 13 percent from October 2015 and 50 percent below the October peak in 2009 of 503 units (this is good news). October inventory also decreased by 1.2 percent from September. This direction is consistent with historical data indicating that October inventory on average (2011-15) decreases from September by 10.6 percent. There were 12.1 months of housing supply in October (6 months is considered equilibrium).

Demand: Waterfront residential sales decreased 43 percent during October, from 37 units sold in September. Historical seasonal patterns indicate October sales on average (2011-15) decrease by 10.2 percent from September.

Pricing: The Lake Martin waterfront median sales price during October was $243,500, a decrease of 55 percent from October 2015 and a decrease of 44 percent from the prior month. Pricing 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. 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.