Lake Martin Market Update: 2015-2024

Just 90 minutes from Birmingham, Lake Martin is one of Birmingham residents’ favorite place to enjoy a home away from home. The convenience, natural beauty, and exquisite second home market give it massive appeal, which is clearly shown in the data.

With the number of sales over $1M nearly doubling since 2015, Lake Martin’s appeal has never been higher. 2020 saw a surge in sales as more buyers looked for second homes and a place to escape. 2024 saw more homes sell for over $3M, a trend we predict will continue as the popularity of the lake continues to increase. Average sales price has increased from $742,331 in 2015 to $1.8M in 2024.

What does this mean for buyers and sellers?

Buyers looking for a second home, particularly a high-end home, can expect less competition as in town purchases, but still need to prepare to spend top dollar. Prices have gone up across the lake, but with new homes currently being built, buyers have plenty of opportunity.

Sellers on the lake face a smaller buyer pool, but the borders of the buyer pool are starting to expand beyond Alabama. More and more buyers from Georgia and other surrounding states see the appeal of Lake Martin and are starting to enter the market. Homeowners on the lake can clearly see their investments hold steady and grow as prices are certain to continue to rise.