Today I decided to take a look at sales trends over the past 6 years to see if anything interesting popped out. Below are sales reported by our MLS from 2003 through 2008. I’ve listed number of homes sold, average days on market, average list price, average sales price, median sales price, and sales price to list price ratio for each year.
2003 Lakefront Sales

Number of Homes Sold: 22
Average Days on Market: 96
Average List Price: $898,584
Average Sales Price: $845,068
Median Sales Price: $703,750
Sales Price/List Price: 96%
2004 Lakefront Sales

Number of Homes Sold: 23
Average Days on Market: 118
Average List Price: $935,086
Average Sales Price: $904,208
Median Sales Price: $824,500
Sales Price/List Price: 96%
2005 Lakefront Sales

Number of Homes Sold: 43
Average Days on Market: 101
Average List Price: $1,272,536
Average Sales Price: $1,213,295
Median Sales Price: $1,025,000
Sales Price/List Price: 97%
2006 Lakefront Sales

Number of Homes Sold: 34
Average Days on Market: 127
Average List Price: $1,519,585
Average Sales Price: $1,391,191
Median Sales Price: $1,100,000
Sales Price/List Price: 92%
2007 Lakefront Sales

Number of Homes Sold: 20
Average Days on Market: 132
Average List Price: $1,523,836
Average Sales Price: $1,438,973
Median Sales Price: $1,420,000
Sales Price/List Price: 94%
2008 Lakefront Sales

Number of Homes Sold (from January to November 10): 13
Average Days on Market: 190
Average List Price: $1,459,453
Average Sales Price: $1,307,230
Median Sales Price: $1,350,000
Sales Price/List Price: 90%
Things that stick out to me
Obviously there’s a big drop off in sales in 2008. That is expected. Sales Price/List Price ratios have also dropped which is expected with so many homes on the market. Days on Market has increased with Supply. What’s interesting to see is that sales prices haven’t dipped like the rest of the market. We’ve seen depreciation of approximately 20-30% throughout the valley but the lakefront market has been relatively stable. Click here to read a recent article regarding lakefront homes by Tyler Wood who also works at Coldwell Banker.
