As Summer winds down, searchers for lake homes and lots are in luck. The new 2023 Fall Lake Real Estate Market Report shows more listings are on the market – 11,674 more. The quarterly survey takes a snapshot of the lake real estate market and found that 25 of the 31 states covered in the lake real estate report had increased inventory over the previous quarter. Texas had more than 1,000 additional listings than the previous quarter, soaring to 15,682 properties with a combined listing price of $8.896 billion – an increase of $620.5 million.
The top ten states for the most lake home and lot listings included Texas (15,682), Florida (8,572), Tennessee (6,074), Minnesota (5,214), North Carolina (4,764), Georgia (4,255), Washington (4,038), Michigan (4,021), Alabama (3,913), and Missouri (3,357). The six states with less inventory over the last quarter were Arkansas, Florida, Maryland, Massachusetts, South Carolina, and Virginia.
The 31 states included in the report had 85,599 lake home and lot listings, up from 73,925 in summer to 70,805 in spring. The total for the Fall 2022 report was 88,344. In the fall 2023 report, listings totaled $46.497 billion, up $6.716 billion from the summer report ($39.781 billion).
The new Fall 2023 Lake Real Estate Market Report revealed lake home and lot listings were $46.497 billion as of August 15 within the 31 states covered in the report. Lake Homes Realty operates in 34 states. This inventory total increased by $6.176 billion since the summer report in May. The average listing price for homes and lots combined increased to $543.201 each – up from $538,131 in the summer. The quarterly report is generated by Lake Homes Realty, the nation’s largest lake-focused brokerage, and pulls data from 126 MLS areas. For a complete listing of available homes and lots across 6,767 lakes, visit www.LakeHomes.com.
Glenn S. Phillips, CEO and Chief Economic Analyst at Lake Homes Realty, sees multiple reasons for increases…
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