Now that the new year has arrived, we’ve all made some new resolutions too. A common goal? Finding the perfect place to hang your hat. If you long for lakeside living, now could mark the perfect time to make an investment in your dream home. Or, if you want to put your lake house on the market, you can also leverage its value with ease. First, though, let’s dive into all the facts about Alabama’s lake house market in 2021.
Increasing Out of State Buyers
Sellers have no shortage of buyers. Approximately half of the people looking to bid on Alabama lake houses live out of our state! So, if you want to find a lake house, you may be dealing with extra competitors.
Tip: Appealing to Sellers
You can always distinguish yourself from the pack by including a letter to your potential seller. You can use it to explain why you love the state, the area, and the house—and show why you’re a good match for the home.
Profitable Listings
Do you own a home on Lake Martin? You might want to get your property value appraised! Compared to all the other lake homes on the market in Alabama, Lake Martin boasts the highest number of million-dollar listings.
Quick Sales
Quick sales benefit both sellers and buyers. Buyers don’t have to wait around to transition into the next part of their lives, while sellers can settle into their new homes ASAP. Alabama’s lake house market in 2021 will most likely benefit from a continued trend of fewer days on the market. This time period dropped from 250 days in November 2019 to 89 days in November 2020.
Residential Sales over the Past Decade
Residential sales on Lake Martin have risen remarkably in the past decade. They’ve grown by 337.5 percent since November 2011!
Growth in Value
Cars decrease in value over time, but homes have the potential to grow in value. Whether you want to sell, or you hope to net a profit after your purchase, it helps to know that houses on Lake Martin continue to grow in value. Their median sales price rose by 70.8 percent in the past year, from $360,000 to $625,375.
Tip: It’s an Investment
The truth is, all real estate purchases are an investment. Though lake homes may fall on the higher end of the price range, they also have the potential to appreciate greatly in value. Make sure to partner with reasonable expectations on your search—and a great Realtor!
Summary
Hello, Lake Martin! Can you imagine waking up there every day—or even just on weekends? Ryan Roberts can make that idyllic dream a reality. He can also help you take advantage of Alabama’s lake house market in 2021, complete with a tidy profit. Or, if you need help buying and selling in Auburn or Opelika, he’s happy to join your team. Contact him here!
The market is yours to master. Learn more about real estate trends, properties for sale, and more when you read our blog.