Sales of Real Estate down, prices creeping up - Lakelands Association of Realtors
The Lakelands Association of REALTORS® MLS® says home sales are showing signs of life but still restrained by lack of new supply.
The association says residential non-waterfront sales activity recorded through the MLS® System for the Lakelands region totaled 442 units in April 2023. This was down sharply by 17.5% from the same period in 2022.
Sales of waterfront properties numbered 84 units in April 2023. This was down sharply by 20% from the same period in 2022.
Matthew Lidbetter, President of the Association says “Sales activity has stabilized at higher levels compared to the bottom reached in the middle of 2022 but we are still waiting on the next phase of growth and recovery. New supply is not only remaining at subdued levels but is actually declining on a month-over-month basis.” He says “The market is continuing to tighten and prices for both waterfront and non-waterfront properties are rising steadily; in the absence of a considerable influx of new supply we expect these trends to persist and strengthen."
