Alabama is once again among the top 10 states in the country for lake homes and lots.

According to Hoover-based Lake Homes Realty’s fall market report, the total Alabama market rose from $1.47 billion in the summer to $1.5 billion.

Texas had the most homes and lots on the market, with 15,682. Alabama is ninth, with 3,913. The state continues to see an increase in inventory.

Lake Homes Realty CEO Glenn Phillips said the number of lake homes for sale nationally continues to increase after reaching historic lows in 2021 and 2022 across virtually every lake market.

“While improved, the selection of ‘appropriately priced’ lake homes remains limited – that is, homes priced to get realistic and viable offers,” he said. “A market recovering from historic lows can improve and still be low.”

It remains a seller’s market.

“Unfortunately, many sellers are overpricing themselves out of the market, and their homes sit and sit, helping inventory numbers grow,” said Phillips. “As a result, there is a growing trend of offers from buyers coming in below list price at many lakes across the country.”

Smith Lake continues to lead most categories in state. Smith Lake has the largest total market and the largest home and land markets. It has the most listings, the most homes available and the most listings below 10 acres. It’s also the destination for the most million-dollar listings.

The most expensive homes, though, are on Lake Tuscaloosa, with an average price of $1.45 million, followed by Smith Lake, at just over $1 million.

If you’re looking for bargains, Lake Harding, on the Alabama-Georgia line, has the most affordable homes, with an average price of a little more than $605,000. The most affordable land under 10 acres is on Bankhead Lake, with an average price of $23.470. If you want more than 10 acres, it’s Neely Henry Lake, at $3,877.

Alabama’s lake homes market is also getting national attention.

According to the report, Chicago is the top metro area outside of Alabama looking at the state’s property on the Lake Homes website. It is followed by Atlanta, Nashville, Dallas, Spokane, Columbus, (Ga.), Washington D.C., Memphis, Minnesota and Oklahoma City.

Alabama’s Lake Martin recently graced the pages of The Wall Street Journal.