Home sales in Lake County, Florida, remain strong despite the decline experienced in the first quarter of 2023. The hearty hometown continues to attract new buyers thanks to its allure and charm unique to this location. With the relic of its ancient history and today’s modern comfort, the county is an attractive place for aspiring homeowners.
Here, we’ll provide an in-depth overview of home sales in Lake County, Florida.
Home Sales Market Updates: Statistics about Real Estate Investment in Lake County
Properties in Lake County are in great demand and have seen a steady increase in sales since 2021. Despite the slight drop in April this year, the number of homes sold increased in May. However, the market saw a slight decrease in June, attributed to higher supply than demand.
Homes on active listing increased from 1,273 in May to 1338 in June. While it might seem like much, Lake County is a sellers’ market. That means properties are selling faster, with an average of 19 days on listing in June, down from 34 in Feb this year.
The median sales price stood at $ 366,490 as of June 2023 and will likely increase in the coming months. Although that was a -3.9% drop compared to a similar period last year, it’s still high and likely to go up.
Housing in the Lake County has already proven to be a worthwhile investment. In fact, the median down payment rose to $62,000 from $48,415 in April. Additionally, the number of purchase loans increased by a staggering +12.9%.
Local Real Estate Experts
The recipe to succeed in this competitive market is to combine experts in staging and marketing with local real estate agents. A good realtor knows the market patterns and can provide sound advice on pricing and bidding.
At Bridlewood Real Estate, we can help you negotiate better deals and help structure the sale. While the overall home sales numbers might decline, skilled realtors with the right experience and local knowledge will still hold the competitive edge.
At Bridlewood Real Estate, we understand the importance of getting the best possible deals for our clients. With a superior understanding of the local market and years of experience, we can help you succeed in Lake County. Contact us today to help with your home sale and ensure your investment pays off. We proudly serve Clermont, Mount Dora, Minneola, Groveland, and Orlando with our industry-leading quality and service.
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