Home sales slow in July


The Lakelands Association of Realtors says that if the value holds, the number of units sold fell dramatically in July compared to the same period last year.

Non-waterfront residential sales totaled 334 units in July 2022, a substantial reduction of 44.4% from 2021.

Since the beginning of the year, there has been a sharp drop of 32.8%.

Waterfront properties also saw lower sales with a 39.4% reduction.

Chuck Murney, President of the Lakelands Association of REALTORS, said: “While the benchmark home price across the District is holding up, the number of sales of waterfront and non-waterfront residential homes has fallen well below average levels in July New listings are still holding up well, although the growing gap between new supply and buyer demand suggests that sellers are lagging the market on price expectations, it said. he declares.

The MLS® Home Price Index (HPI) tracks price trends much more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $738,900 in July 2022, an increase of 8.4% from July 2021.

The benchmark single-family home price was $759,600, a moderate 7.6% year-over-year gain in July. By comparison, the townhouse/townhouse benchmark price was $669,500, up 16.7% from a year earlier, while the apartment benchmark price was $527,400, a 21.8% gain over previous year levels.

The median price for non-waterfront residential property sales in July 2022 was $674,500, up 6.2% from July 2021.

The fuller non-waterfront residential median price year-to-date was $755,000, up 16.2% from the first seven months of 2021.

The median price for waterfront property sales in July 2022 was $860,000, down 4.4% from July 2021.

The fullest year-to-date median price was $1,067,000, an 18% increase from the first seven months of 2021.

The total dollar value of all non-waterfront residential sales in July 2022 was $252.8 million, a steep drop of 41.2% from the same month in 2021.






The total dollar value of all waterfront sales in July 2022 was $146 million, a substantial reduction of 46.5% from the same month in 2021. Sales (all areas)

July 2022

July 2021

% change from year to year

Non-waterfront residential

334

601

-44.4

Waterside

131

216

-39.4

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