Central Florida Real Estate Report June 2023: Lake County Florida

Actively Listed Single-Family Homes

Year-over-year, active listings of single-family homes has increased 6% from 1,359 in June 2022 to 1,441 in June 2023. The median list price has decreased 4% from $390,000 in June 2022 to $375,000 in June 2023.

Month-over-month, active listings of single-family homes has remained constant (less than 1% change) from 1,448 in May 2023 to 1,441 in June 2023. The median list price has increased 1% from $369,695 in May 2023 to $375,000 in June 2023.

Sales Activity Of Single-Family Homes

Year-over-year, the number of sales has decreased 8% from 651 sales in June 2022 to 600 sales in June 2023. The median sale price has decreased 1% from $385,000 in June 2022 to $380,976 in June 2023.

Month-over-month, the number of sales has decreased 6% from 635 sales in May 2023 to 600 sales in June 2023. Median sale price has remained constant (less than 1% change) from $382,500 in May 2023 to $380, 976 in June 2023.

Original List Price vs Sale Price Of Single-Family Homes

In June 2023, single-family homes sold for 97.9% of their original list price. In June 2022, single-family homes sold for 100% of their original list price and May 2023 they sold for 97.1% of their original list price.

Summary

There is more inventory of single-family homes when compared to last year and approximately the same when compared to last month. More inventory gives buyers more options when shopping for a home and creates more competition between sellers. The number of transactions is down compared to last year and last month. Median sale price is approximately the same for both year-over-year and month-over-month. Even with the increase in inventory and the reduced number of sales, sellers are only reducing their original list price by approximately 2%.