The value of all unsold real estate on Alabama’s lakes shot past the $1 billion mark this summer, rising in value by 25% in just the last three months.
It’s not a new plateau by any means, but could be a sign that the post-COVID time of record prices and rabid demand in a tight market might be cooling off. Glenn S. Phillips, CEO Of Lake Homes Realty, said the “hyper frenzied acceleration in price has slowed.” Lake Homes Realty looks at the value of all unsold property on the market during a given period, meaning any lakefront property, lake accessible home or lot for sale.
Smith Lake also leads in the largest home and the largest land market categories, as well as the most listings.
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