Residential non-waterfront sales activity recorded through the MLS® System for the Lakelands region totalled 530 units in April 2022. This was a significant reduction of 34% from the same period in 2021.
Residential non-waterfront sales were 5% above the five-year average and 1.5% below the 10-year average for the month of April.
On a year-to-date basis, residential non-waterfront sales totalled 1,819 units over the first four months of the year. This was a decrease of 25.1% from the same period in 2021.
Sales of waterfront properties numbered 104 units in April 2022. This was a substantial reduction of 58.7% from the same period in 2021.
Waterfront sales were 17.5% below the five-year average and 22.3% below the 10-year average for the month of April.
On a year-to-date basis, waterfront sales totalled 322 units over the first four months of the year. This was a sharp decrease of 50.1% from the same period in 2021.
“Sales for both waterfront and non-waterfront properties came in well below last year’s record levels and were hovering around the average for this time of year, with activity for non-waterfront homes faring slightly better between the two,” said Chuck Murney, President of the Lakelands Association of REALTORS®. “Supply levels are still at historical lows, which means that if we see a continued moderation in sales activity there is ample room for the market to absorb a welcome increase in available listings. Prices are still trending near all-time highs but have begun to show signs of topping out.”
The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $745,500 in April 2022, increasing by 21.4% compared to April 2021.
The benchmark price for single-family homes was $761,600, a gain of 21.4% on a year-over-year basis in April. By comparison, the benchmark price for townhouse/row units was $656,900, up by 23.8% compared to a year earlier, while the benchmark apartment price was $594,400, a large increase of 34.8% from year-ago levels.
The median price for residential non-waterfront property sales in April 2022 was $750,000, up by 17.2% from April 2021.
The more comprehensive year-to-date residential non-waterfront median price was $800,000, an increase of 23.1% from the first four months of 2021.
The median price for waterfront property sales in April 2022 was $1,202,500, up by 26.4% from April 2021.
The more comprehensive year-to-date waterfront median price was $1,175,000, a large increase of 30.6% from the first four months of 2021.
The total dollar value of all residential non-waterfront sales in April 2022 was $458 million, a big reduction of 20.7% from the same month in 2021.
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The total dollar value of all waterfront sales in April 2022 was $162.7 million, falling 43.1% from the same month in 2021. Sales (all areas) |
April 2022 |
April 2021 |
Year-over-year % change |
|
Non-Waterfront Residential |
530 |
803 |
-34.0 |
|
Waterfront |
104 |
252 |
-58.7 |