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It’s a seller’s market on Lake Martin!

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If you have been thinking of selling your home, there has not been a better time since 2006. Our Lake Martin market is thriving, and new construction is popping up lake wide. Regardless of what you have heard in the past about waiting until spring to put your house on the market,  now is a great time and opportunity to sell.  

It comes down to supply and demand. Sales are up and inventory is low. We are currently working with buyers seeking their dream Lake Martin home, and due to the low inventory, some simply cannot find what they are looking for. Most of our house hunters want to get their new property under contract in order to close by spring, so they get to enjoy most of the next few seasons. Buyers are excited about the lake life experience and all it has to offer. That puts you, the seller, in an excellent position; current interest rates are just the icing on the cake!

Current interest rates, compliments of Melanie Foshee at River Bank and Trust are as follows: 

  • Jumbo 4.25%
  • Conventional, 30 year 3.875%
  • Conventional 15 year 3.25% 

Other interesting statistics over the past year (October 2018 – October 2019) include:

  • 347 waterfront properties were sold on Lake Martin 
  • 77 of those were condos, townhomes or villas. The lowest sale price was $180,000 and the highest was $650,000. Talk about a great investment! 
  • 36 of those are currently active with 8 presently under contract

                                            Sold                                Currently active                          Under contract 

$125,000 – $300,000     64                                             5                                                    0

$301,000 – $500,000    103                                           63                                                   9

$501,000 – $700,000     88                                            51                                                    6

$701,000 – $900,000     43                                            24                                                    3

$900,000 – $1.1MM       13                                              5                                                      0

$1.1MM –   $3 MM          36                                             24                                                     2

 

 Data provided by the LMAAR Mls. Information is deemed to be reliable but is not guaranteed.

If you would like to sell your home, please give us a call to set up an appointment. We’d love to help you! 

 

Categories: Alabama Investment Lake Martin Lake Martin Alabama Lake Martin Neighborhoods Lake News Location News Newsletters Real Estate

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