Residential non-waterfront sales activity recorded through the MLS® System for the Lakelands region numbered 200 units in March 2019. This was an increase of 12.4% from March 2018 and was one of the better March sales figures on record after 2017, 2004 and 2007.
On a year-to-date basis, residential non-waterfront sales totalled 437 units over the first three months of the year, up 6.3% from the same period in 2018.
Sales of waterfront properties numbered 85 units in March 2019, down 9.6% (nine sales) from March 2018. This result was above the 10-year average for the month but below the five-year average.
On a year-to-date basis, waterfront sales totalled 151 units over the first three months of the year, a decrease of 14.2% from the same period in 2018.
“Non-waterfront property sales continue to improve, with the March 2019 tally marking the second best showing in a decade after 2017 and the median sale price setting yet another record,” said Wendy Webb, President of The Lakelands Association of REALTORS®. “Both non-waterfront and waterfront listings are also still spending very little time on market before selling by historical standards, which is not that surprising given that inventories remain quite low across the region.”
The median price for residential non-waterfront property sales in March 2019 was a record $385,150, rising 11.7% from March 2018.
The median price for waterfront property sales in March 2019 was $519,000, down 5.1% from March 2018.
The total dollar value of all residential non-waterfront sales in March 2019 was $81 million, rising 23.7% from the same month in 2018. This was the second highest March level on record.
The total dollar value of all waterfront sales in March 2019 was $46.5 million, falling 35.4% from the record March in 2018.