Residential non-waterfront sales activity recorded through the MLS® System for the Lakelands region numbered 269 units in May 2019. This was an increase of 17% from May 2018 and stood right in line with the 10-year average for the month.
On a year-to-date basis, residential non-waterfront sales totalled 908 units over the first five months of the year, up 7.6% from the same period in 2018.
Sales of waterfront properties numbered 191 units in May 2019. While this was only up 1.6% (three sales) from May 2018, it was nonetheless the first year-over-year increase in 24 months.
On a year-to-date basis, waterfront sales totalled 446 units over the first five months of the year, down 8.8% from the same period in 2018.
“The overall housing story was little changed in May, with non-waterfront property sales still running near average levels and waterfront sales still a bit below average,” said Wendy Webb, President of The Lakelands Association of REALTORS®. “That said, both non-waterfront and waterfront listings are still selling very quickly, which is not that surprising given that inventories remain quite low across the region. In line with tight market conditions, prices are holding near record levels.” “In addition an unseasonably cold, wet spring has meant a significant delay in waterfront properties coming on the market.”
The median price for residential non-waterfront property sales in May 2019 was $385,000, rising 11% from May 2018.
The median price for waterfront property sales in May 2019 was $545,100, little changed (-0.8%) from May 2018.
The total dollar value of all residential non-waterfront sales in May 2019 was $111.4 million, jumping 33.1% from the same month in 2018.
The total dollar value of all waterfront sales in May 2019 was $158.7 million, rising 13% from the same month in 2018.
