Waterfront home sales post solid December to end 2019
Sales of waterfront properties numbered 51 units in December 2019. This was more than double the level from a year earlier, rising 183.3% from a very weak December in 2018.
On an annual basis, waterfront sales totaled 1,680 units over the course of 2019, edging up just 0.1% (one sale) from the same period in 2018.
Residential non-waterfront sales activity recorded through the MLS® System for the Lakelands region numbered 114 units in December 2019. This was an increase of 10.7% (11 sales) from December 2018.
On an annual basis, residential non-waterfront sales totaled 2,577 units over the course of 2019, up 9.8% from the same period in 2018.
While both non-waterfront and waterfront sales saw equally solid Decembers to close out the year, it was the non-waterfront segment that performed better over most of 2019. The pickup in sales to end the year has started to drag down overall supply heading into 2020, so we’re likely looking at yet another year of tight market conditions.
The median price for residential non-waterfront property sales in December 2019 was $335,000, down 6.2% from December 2018. The more comprehensive annual median price for 2019 was $365,000, up 7.8% from all of 2018.
The median price for waterfront property sales in December 2019 was $500,010, falling 20% from December 2018. The annual median price for 2019 was $540,000, rising by 3.6% from 2018.
The total dollar value of all residential non-waterfront sales in December 2019 was $42.6 million, rising 14.1% from the same month in 2018. This was a new record for the month of December.
The total dollar value of all waterfront sales in December 2019 was $30.8 million, up 129.7% from a low reading in that month in 2018.
