December Market Report
Sales Activity:
The month of December reported the lowest amount of units sales in 2022 with a total of 85 unit sales in Lakelands West. This is down from 110 sales previously reported in July. This is common for the time of year, and notably in relation to the number of new listings in December, the absorption rate for the month was 18% (85 reported sales vs 473 active listings).
Inventory:
New inventory remained low in December and the holiday season.
There were a total of 117 new listings in Lakelands West, this is down from 235 new listings in November, but again a number that is consistent with previous years in December.
Value:
The 12-month average sales price of a detached single-family residential home has continued to decrease month-over-month (November to December). Although the year-over-year average sales price remains an increase at this time in the market.
Your GO TO Team remains available to provide additional information and to meet all your real estate needs. Please call, text or email us today!
Please click the following link to view the entire Market Report for this month:REMAX_MarketReport_DECEMBER-2022
