Leesburg-area home prices fall 3.2% in September, with houses for sale in high demand
A typical Lake County home listed for $406,500 in September, down 3.2% from the previous month's $419,900, an analysis of data from Realtor.com shows.
The median list home price in September was up about 9.1% from September 2021. Lake County's median home was 1,951 square feet for a listed price of $214 per square foot.
The Lake County market was busy, with a median 49 days on market. A month earlier, homes had a median 44 days on market. The market added 766 new home listings in September, compared with the 694 added in September 2021. The market ended the month with some 1,275 listings of homes for sale.
More real estate news: Leesburg-area home prices fall 3.2% in August, with houses for sale in high demand
The May report: Leesburg-area home prices rise 4.9% in May, with houses for sale in high demand
Around the House: Don't expect huge Lake County construction price drops soon
The median home prices issued by Realtor.com may exclude much, or even most, of a market's homes. The price and volume represent only homes that are single-family homes, condominiums or townhomes. They include existing homes, but exclude most new construction as well as pending and contingent sales.
The Hocus Pocus Cottage will be available for $31 for a one-night stay 👀🎃🧙♀️ pic.twitter.com/VkiXiseQyC
— Realtor.com (@realtordotcom) September 30, 2022
Information on your local housing market is available through the USA TODAY Network, with more data from Realtor.com.
What is the situation in Orlando? Florida? Nationwide?
Across metro Orlando, median home prices fell to $449,235, down 0.7% from a month earlier. The median home had 1,914 square feet, at a list price of $234 per square foot.
Across all of Florida, median home prices were $465,000, falling 1.9% from a month earlier. The median Florida home for sale had 1,730 square feet at list price of $267 per square foot.
Across the United States, median home prices were $427,250, down 1.3% from a month earlier. The median American home for sale had 1,875 square feet, listed at $220 per square foot.
First-time home buyers are facing challenges—rising home prices, low inventory, and high interest rates, and @RETradio wants to ensure buyers are prepared for the uphill road. Learn about mortgage preapproval, writing a winning offer, and more. https://t.co/hPQWc14CQb pic.twitter.com/sGVUjx0c7b
— National Association of REALTORS® (@nardotrealtor) October 1, 2022
The median home list price — the midway point of all the houses or units listed over a period of time — is used more often in this report instead of the average home list price because experts say the median offers a more accurate view of what's happening in a market. In finding the average price, all prices of homes listed are added and then divided by the number of homes sold. This measure can be skewed by one low or high price.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from the Realtor.com residential listings database. The story was written by Mike Stucka and Sean Lahman.
This article originally appeared on Daily Commercial: Leesburg, Florida-area homes for sale drop to $406,500 median price
