Lakelands property sales remain well below last year’s record levels in May 2018
Sales of waterfront properties recorded through the MLS® System for the Lakelands region numbered 191 units in May 2018. This decreased by 42.1% from May 2017, which was a record.
On a year-to-date basis, waterfront sales totalled 492 units over the first five months of the year. This was a decrease of 39% from the same period in 2017.
“Activity remained quiet in May,” said Mike Stahls, President of The Lakelands Association of REALTORS®. “Having said that, with supply at historic lows it’s possible we may be looking as much at a supply story as a demand story. That idea is supported by the fact that listings are still selling quickly, and median prices continue to rise.”
The median price for waterfront property sales in May 2018 was $535,500, up 9.4% from May 2017.
The total dollar value of all waterfront sales in May 2018 was $140.7 million, falling 34.2% from the May record in 2017.
Lesley-Anne Goodfellow