Sales of waterfront properties recorded through the MLS® System for the Lakelands region numbered 31 units in February 2019. This was a decrease of 16.2% (six sales) from February 2018 and was well below average for the month.
On a year-to-date basis, waterfront sales totalled 66 units over the first two months of the year, down 19.5% from the same period in 2018.
“Non-waterfront sales have consistently outperformed the more expensive waterfront segment since the introduction of the B-20 stress test at the beginning of 2018,” said Wendy Webb, President of The Lakelands Association of REALTORS®. “Sales trends notwithstanding, with the supply of listings still at or near record lows across the region, prices continue to post sizeable year-over-year gains.”
The median price for waterfront property sales in February 2019 was $500,000, up 8% from February 2018.
The total dollar value of all waterfront sales in February 2019 was $21.4 million, edging up 2% from the same month in 2018.