Lake Martin Real Estate Market Report - July 2020
July 2020 has been a really big month for waterfront home sales here at Lake Martin, Alabama. Last year in 2019, through the end of July, our entire market sold 214 homes – this includes all agents and all brokerages in the Lake Martin MLS. This year through the end of July, in the middle of all of this corona panic, we have sold 258 homes! That is a 20% increase from the prior year!
As crazy as it is with the coronavirus, murder hornets and multiple hurricanes – it is even crazier for second home sales at Lake Martin!
For the month of July, 73 waterfront residences were sold on Lake Martin. That is the best month ever! So how great was it? The previous record was July of 2019 with 55 homes sold. Last month, in June of 2020, we tied that monthly total of 55 waterfront homes sold. Therefore, in 2020 we have had two record breaking months back-to-back – June and July.
What is the five year average for the month of July? Our five year average is 36 home sales. But in 2020 we doubled that – we sold 73 in July. Any time you double up your average sales is a month to step back and admire.
What about waterfront lot sales on Lake Martin for July, 2020? In 2019 through the end of July we had sold 31 lots. So far this year we have sold 50 waterfront lots so lot sales have really taken off this year too. For the month of July, 25 lots were sold – a record for sure.
People are spending their money and their time in second home markets like Lake Martin. I realize that some industries and some regions of the country have had their businesses and livelihoods devastated by the government mandates and people panicking about the coronavirus. My heart goes out to them. I have friends in service industries like hair care, travel, and guiding that have taken huge hits because of all this. But one thing is for sure – waterfront real estate sales on Lake Martin have never been hotter. I know that agents always talk in superlatives, but this is just the way it is right now.
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John Coley is a full-time real estate agent specializing in waterfront property on Lake Martin, Alabama. He is the Broker and Owner of Lake Martin Voice Realty and has a website called Lake Martin Voice where he blogs about Lake Martin real estate and area information. This article originally appeared on Lake Martin Voice.
All analysis, charts, and statistics in this article are the property of John Coley, Broker, Lake Martin Voice Realty, 8424 Kowaliga Road, Suite A, Eclectic, AL, 36024. Unauthorized use and/or duplication of this material without express and written permission from this blog's author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to John Coley and LakeMartinVoice.com with appropriate and specific direction to the original content.