Can you believe that 2020 is nearly over? It’s been an interesting year for real estate—and each month has brought fascinating news for buyers and sellers alike. Today, we’re delving deep into the September 2020 Lake Martin real estate trends. Whether you own property there—or you’d love to in the future—you can learn more about the data gathered from the Alabama Center for Real Estate (ACRE) and the Lake Martin Area Association of REALTORS (LMAAR) below.
Rising Median Sales Prices
Homes aren’t just a place for us to live—though they sure are great to call our own! Houses are also a long-term investment, one we all want to pay off for us in the future. As shown by this entry among the latest Lake Martin real estate trends, median sales prices have risen in the past year by 32.2 percent.
Median Sales Price
The median sales price of a Lake Martin home, as of September 2020, is quite impressive! The most recent data designated that number as $400,000. Wow!
Decreasing Inventory
If you want to sell your Lake Martin home, you can use this trend to your advantage. Inventory has decreased by 36.4 percent in September 2020 compared to the year prior. And, as you’ll see below, people are more than happy to snap up the residential properties on the market.
Growing Monthly Sales
How much can change in a month? A lot! For example, the average sales price of Lake Martin real estate grew by 4.2 percent from August 2020 to September 2020.
Growing Sales in a 12-Month Period
You’re about to be blown away with this fantastic fact! Lake Martin residential home sales grew 30.3 percent in the time between September 2019 and September 2020. That number includes both waterfront and non-waterfront homes!
Summary
Thanks to these trends from ACRE and LMAAR, it looks like calm waters have come into town. Not to mention, these Lake Martin real estate trends are great news for anyone who owns property at such an idyllic spot.
If you want to sell and leverage all that value your Lake Martin property has accrued, contact Ryan Roberts here. He also has the knowledge and expertise to help you navigate the Auburn and Opelika markets! Finally, for more on real estate trends and how to show your home in its best light, visit his blog here.
