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Property In Short Supply


Published: 06.23.2020

Summer sales are sizzling

A wise old real estate broker was asked about timing in the real estate market. The question posed was, “When is the best time to sell a property?” The broker stewed on that question and gave a wise answer. “The best time to sell property is when someone wants to buy it!” That is something they don’t teach you in real estate school!

If you are wondering if now is a good time to sell your lake property, maybe this will help. Current inventory for residential waterfront property available for sale is less than one-half of the inventory level at this same time last year. Also, property values are on the upswing as well. Median price for a single-family lake home is 9.8% higher than that of the same period last year.*

As noted in another article published in this newsletter (view that article), the COVID-19 event has not adversely affected the real estate market for Lake Martin. In fact, in the first three months of the COVID-19 era (March through May), the total number of units of sold property increased 29% over the same three-month period last year. View the sales chart >

If you have an interest in selling your property, we have buyers looking! We also have the most recent data on sales to get you the best price. If you can give a buyer the chance to enjoy the home part of this summer and the fall, you might be able to turn your property into cash quickly.

To find out what your home is worth in today’s climate, call one of our Realtors®.

 

*This number is based on the 12-month rolling average of Lake Martin property sales ending May 31, 2020, as reported to the Lake Martin Area Association of Realtors® MLS.

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