New Lake real estate report shows Lake home and lot listings down from 2021
War, gas prices and 2022 predictions for Lake Real Estate
BIRMINGHAM, AL /ACCESSWIRE/March 10, 2022/ Finding the perfect lakeside home or land continues to become more competitive as the number of listings for these properties continues to decline. According to Lake Homes Realty’s Spring 2022 Lake Real Estate Market Report, $26.134 billion of lake homes and land are currently on the market in the brokerage’s 33-state coverage area. This is down $6.68 billion from the last December 2021 report and over $12 billion since September 2021. Additionally, spring 2022 listings are down 2.66 billion dollars compared to this spring 2021 period.
“With uncertainty about the war in Ukraine and rising gas prices, things can change quickly,” Phillips said. However, Phillips remains hopeful that the real estate market in 2022, including lake real estate, will be better (up 10% to 20%) than the strong market volume of 2020 and 2021.
“Buying or selling a lake house or land is not like selling other real estate,” said Glenn Phillips, CEO of Lake Homes Realty. “We’ve seen lake home and land listings drop, and our new report is a revelation for the lake real estate market and the industry as a whole,” Phillips said. Of the 33 states covered by Lake Homes Realty, only Connecticut and Mississippi saw an increase in listings in the last quarter.
“These properties are discretionary, leading to very different mindsets and buying/selling patterns. While potential owners seek safe and serene escapes, interest in lake real estate may increase further in the coming months,” Phillips said. “That mindset makes understanding the Lake Homes Realty market even more important and why Lake Homes Realty spends a significant amount of time creating the Lake Homes Realty Quarterly Report. lake while launching an enhanced website at LakeHomes.com,” he said. “We have tremendous amounts of market data, and our realtors across the country supplement that data with information on local lake real estate trends.”
Historically, listings for homes and land on the lake increase in the spring, summer and fall as the weather improves, according to Phillips. “For lake owners who may not be using their lakefront homes very often, 2022 may be a great time to sell as listings are tighter,” Phillips said. “For people looking for a place to gather with family and friends, as well as a long-term investment, lakefront homes continue to be a solid option.” According to the new Lake Real Estate Market Report, the most affordable lake homes are found along Chaplin Lake in Louisiana and have an average price of $167,700. The most expensive lake homes are in Whitefish Lake, Montana, averaging $4.7 million per home. For a complete list of available homes and lots, visit www.lakehomes.com.
The Spring 2022 Lake Homes Realty Market Report shares a summary of data collected from over 130 MLS areas in the 33 states served by Lake Homes Realty and is not, to the best of our knowledge, available from any other source. Copies of the Spring 2022 Lake Real Estate Market Report are now available for media to download for free at www.lakehomes.com/rapport. We just ask to be quoted by the media and to provide a link.
QUARTERLY OVERVIEW OF TOTAL LAKE HOME & LOT LISTINGS
According to statistics from the quarterly report, listings of homes and land on the lake peak during the summer and fall months, with winter and early spring being a bit slower. As a result, Phillips believes that mortgage rates and mortgage availability will have no significant impact on the lake real estate market in 2022 other than the influence of overall real estate market perception. Here is an overview of the past six quarters, and timing information has been collected for each report.
- Spring 2022 – $26,134,521,090 (Nov. 16, 2021 to Feb. 12, 2022)
- Winter 2021 – $32,814,549,844 (August 16 to Nov. 15, 2021)
- Fall 2021 – $38,401,524,755 (May 16 to August 15, 2021)
- Summer 2021 – $35,518,151,955 (February 16 to May 15, 2021)
- Spring 2021 – $28,805,375,303 (Nov. 16, 2020 to Feb. 15, 2021)
- Winter 2020 – $35,245,655,591 (August 16 to Nov. 15, 2020)
BILLION DOLLAR STATES FOR LAKE HOUSE LISTINGS
While Texas leads the way, nine states have more than $1 billion in current listings for lakefront homes and land. Here are the best real estate states on the lake. Additionally, major out-of-state metropolitan areas (based on number of web searches on LakeHomes.com) are also listed.
- Texas – $3.97 billion – First metro area looking at the Texas Lakes in Los Angeles.
- Washington – $2.23 billion – The main metro area looking at the Washington Lakes is Portland, Oregon.
- North Carolina – $1.96 billion – The most searched metro area is Atlanta.
- Florida – $1.85 billion – The most searched metropolitan area is New York.
- Georgia – $1.55 billion – The most searched metro area is Orlando.
- Illinois – $1.52 billion – The most searched metro area is St. Louis.
- Michigan – $1.46 billion – The most searched metro area is Chicago.
- Tennessee – $1.46 billion – The most searched metro area is Chicago.
- Caroline from the south – $1.19 billion – The most searched metro area is Charlotte
Copies of the Spring 2022 Lake Real Estate Market Report are now available for media to download for free at www.lakehomes.com/rapport. Additional insights, country states and industry trends from CEO Glenn S. Phillips are also included in the report.
MEDIA CONTACT: Bill Lang, Director of Public Relations – [email protected]; 205.218.3561. Interviews are available with CEO Glenn S. Phillips, as well as lake real estate agents and clients from across the country.
THE SOURCE: Lake Houses Real Estate
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