– down from a very strong February in 2017
Sales of waterfront properties recorded through the MLS® System for the Lakelands region numbered 36 units, down 34.5% from February 2017. This was almost exactly in line with the 10-year average for the month of February.
On a year-to-date basis, waterfront sales (72) were down 30.1% from the same period in 2017.
“Sales activity was running at average levels in February, less extreme activity than we saw in early 2017,” said Mike Stahls, President of The Lakelands Association of REALTORS®. “That said, even average levels of demand against the backdrop of a historic lack of inventory is keeping the pressure on prices in the region.”
The median price for waterfront sales was $459,000 in February 2018, rising 8% from February 2017.
The total value of waterfront sales was $20.4 million, falling 24% from the record February in 2017. This drop in dollar value was due to the slowdown in sales.