A look at Lake Martin real estate trends in October 2022 has us feeling like we’re bobbing in the water with a few ups and downs compared to past stats!
Inventory continues to increase.
Whether you are looking at year-over-year or month-to-month, there are more residential listings on the lake.
In fact, compared to October 2021, the number of Lake Martin listings increased by 21.9 percent this October. As far as month-to-month changes, there was a 5.5 percent jump in housing inventory from September to October 2022.
Days on the market remain relatively the same.
Technically, the average number of days on the market decreased by one when looking at both October 2021 and September 2022 compared to October 2022.
In October 2022, the figure was 88, while it was 89 last month and last year.
Median sales prices are down compared to last year.
Is this one of the Lake Martin real estate trends in October 2022 that is showing a shift in the market?
The median sales price in October 2022 was $405,900. That’s a 10.4 percent decrease from October 2021’s $453,250.
But when looking at September 2022, the median sales price actually went up 0.5 percent in October.
Average sales prices are up and down too.
The pricing trend continues. The average sales price decreased by 9.4 percent from October 2021 to October 2022. This October the average sales price was $598,862 versus $660,647 in 2021.
However, month-to-month shows a 6.7 percent jump from September’s $561,516.
Summary
If these Lake Martin real estate trends in October 2022 have piqued your interest, there is no better time than now to connect with Ryan Roberts. Searching for a lake house in the off season gives the buyers an advantage, especially with more listings to choose from too! Keep reading our blogs for more local real estate trends, news and property showcases.
