“Sales of both waterfront and non-waterfront properties were trending well below average in January, picking up right where 2022 left off. However, looking through the seasonality of the data we can see that there has been a marginal improvement on a monthly basis since activity bottomed out in July last year,” said Matthew Lidbetter, President of the Lakelands Association of REALTORS®. “Price levels for both types of properties are still in decline and we will likely see outsized year-over-year drops as we move past the one-year mark of the all-time highs experienced last spring. On the supply side, the stock of listings is being bolstered by a rebound in the non-waterfront segment, although supply levels are still well below historical averages. While nobody expects a return to the levels of demand we saw over the past two years, the general expectation for this year is one of more stability and gradual recovery."