In September, with Labor Day behind us we saw boating season begin to wind down, but what about the housing market? Let’s take a minute to check out some of the highlights from Lake Martin’s September 2023 Residential Report.
Inventory was up year-over-year.
The water level may be lowering, but the housing inventory is rising! Compared to September 2022, when there were 119 homes listed on the market, September 2023 saw 128 homes listed.
Homes are spending more time on the market.
With more options come more decisions. When looking back to September 2022, when there was less inventory, we see that homes were spending an average of 69 days on the market. In September 2023, homes spent an average of 72 days on the market.
This is a 4.3% increase from a year ago.
Average sales prices are up.
Waterfront property sellers—now is your time! One of the biggest highlights from Lake Martin’s September 2023 Residential Report that sticks out is the increase in average sales prices.
In fact, the average sales price for waterfront homes on Lake Martin in September 2023 was $1,108,274. That’s a 13.1% increase from a year ago, when the average sales price was $980,065.
Total residential sales have increased.
Lake Martin homes are a hot commodity right now, and the numbers show it! Compared to September 2022, the total number of residential sales has increased by 11.5%.
More specifically, the total number of residential sales in September 2023 totaled 29, whereas in 2022 it totaled 26.
Summary
Have you been waiting to make your move into town or find your dream home on the water? Take the hint from these highlights from Lake Martin’s September 2023 Residential Report and make your move now! Contact Ryan Roberts to get started.
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