2025 is officially here and has brought a new wave of stats for lake real estate. But before we enter this new era, let’s look at how the last year ended with Lake Martin’s December 2024 Residential Report.
Inventory was up year-over-year.
This past December saw lower and colder temperatures than usual, but one thing that wasn’t low was the number of homes listed for sale on Lake Martin! Compared to December 2023, where there were 101 homes listed on the market, December 2024 saw 191 homes listed. That’s a whopping 89.1% increase in inventory!
Homes spent less time on the market.
An increase in housing inventory brought lots of options for lake properties. When looking at December 2023, when inventory was lower, homes spent an average of 197 days on the market. Whereas in December 2024, homes spent an average of 191 days on the market, a 3% decrease year-over-year.
Average sales prices were down.
Did the cold weather and increased inventory affect lake home sales? Perhaps, considering the average sales price decreased in Lake Martin’s December 2024 Residential Report.
The average sales price for waterfront homes in December 2024 was $1,163,567. That’s a 0.8% decrease from a year ago when the average sales price was $1,173,067.
Total residential sales increased.
Combining lower sales prices with the improved inventory, there was an increase in total residential sales.
Compared to December 2023, the total number of residential sales has increased by 25%. More specifically, the total number of residential sales in December 2024 totaled 15, whereas in 2023, it totaled 12.
Summary
Are you interested in making waves and jumping into lake life? Let Lake Martin’s December 2024 Residential Report show you that now is the time to act fast! Contact Ryan Roberts, your local Lake Martin real estate expert, for all your real estate needs.
In the meantime, continue reading our blogs for more real estate market updates and local news.
