Lake Martin August 2020 Market Update
What corona? The Lake Martin waterfront real estate market has been absolutely scorching hot, regardless of the global concern with the coronavirus.
Let’s take a look at August 2020, waterfront home sales.
These statistics are taken from The Alabama Center of Real Estate. They represent all agents, all brokerages in the Lake Martin MLS.
Waterfront home and lot sales continue to be record-breaking here at Lake Martin, Alabama, in August for 2020.
In August, 56 waterfront homes were sold through the Lake Martin MLS. That covers the entire lake and is all agents, all brokerages, everyone. It also includes all single-family homes as well as condos and townhomes. This year, August waterfront home sales were the most in any August ever, and the second-best month ever. The best month was last month, July 2020.
An equally incredible story is happening with inventory, or, waterfront homes that are for sale on Lake Martin. I ran these numbers as of today. There are 141 waterfront homes for sale as I write this. But, incredibly, 86 of those are under contract (status of “Active with Contingency” or “Pending”). When a market has more homes under contract than are not under contract, it just reiterates what a hot sellers’ market this is.
I can say the same thing about waterfront lot sales. After a lackluster year of sales in 2019, the Lake Martin lot sales have taken off in 2020. Twenty four waterfront lot sold in August. That was the second-best month ever. Only July of 2020 beat that with a total of 25. Waterfront lot inventory is also under pressure from the high sales environment. As I write this, there are 33 lots under contract and only 61 that are not.
If you own waterfront property on Lake Martin and are wondering what this news means to you specifically, I would love to come by and take a look. I can give you a free, no-obligation estimate of your market value.
Please call me if I may help!
Waterfront Homes For Sale
Waterfront Homes Sold
Waterfront Homes Under Contract
Lots Under Contract