The Lake Club

Published: April 2023*

Property

March 2023 was a Seller's market! The number of for sale listings was up 700% from one year earlier and the same as the previous month. The number of sold listings was the same year over year. The number of under contract listings was up 233.3% compared to previous month and up 150% compared to previous year. The Months of Inventory based on Closed Sales was 2.7, up 720% from the previous year.

The Average Sold Price per Square Footage was 762 and up 30.3% compared to last year. The Median Sold Price was 3000. The Average Sold Price was 3617. Based on the 6 month trend, the Average Sold Price trend was "Appreciating" and the Median Sold Price trend was "Neutral".

The Average Days on Market showed a neutral trend, a decrease of 68.2% compared to previous year. The ratio of Sold Price vs. Original List Price was 90%, an increase of 25% compared to previous year.

It was a Seller's Market

Property Sales (Sold)

March property sales were 3, the same as in March of 2022.

Current Inventory (For Sale)

Versus last year, the total number of properties available this month was higher by 7 units of 700%. This year's bigger inventory means that buyers who waited to buy may have bigger selection to choose from. The number of current inventory was the same as the previous month.

Property Under Contract (Pended)

There was an increase of 233.3% in the pended properties in March, with 10 properties versus 3 last month. This month's pended property sales were 150% higher than at this time last year.

Mark Boehmig

Realtor,

GRI, CLHMS

(941)807-6936 markboehmig@michaelsaunders.com

MarkitSoldFL.com