The data is in! It’s time to start looking at Lake Martin’s December 2021 Residential Report and get serious about some lakefront living.
Median sales prices are up.
To clarify, we mean median sales prices have increased by a whooping 51.6 percent from December 2020 to December 2021.
The median sales price for this past December was $909,362 whereas in December 2020 it was $600,000.
Average sales prices are up too.
The average sales prices are also up for waterfront homes on Lake Martin. The year-over-year increase is 40.7 percent in this case.
In December 2021, the average sales price was $986,064 versus the average of $700,752 a year ago.
Homes are spending more time on the market.
When looking at Lake Martin’s December 2021 Residential Report, you’ll see houses are staying on the market longer.
Although, when you do the math, it boils down to five extra days in December 2021 with an average of 93 days. December 2020 saw about an 88-day average.
The good news is, month-over-month numbers indicate an improvement. Properties spent about 49 fewer days on the market in December than they did in November!
Inventory is low.
Prices may be high, but inventory is low. Overall, December 2021 had a total of 51 listings on the Lake Martin waterfront. That was down from 63 in November 2021 and 77 total listings in December 2020.
Summary
After looking at Lake Martin’s December 2021 Residential Report, are you ready to contact Ryan Roberts? He’s ready to help with any of your Lake Martin real estate needs!
Buyers, get ready to search for your lake house with the help of an expert. Sellers, get ready to add your property to a select fewand enjoy those higher sales prices.
Did we mention Ryan can help with any of your East Alabama real estate inquiries? He can! And keep reading our blogs for more real estate trends, data and local news!
