In 2023, the Lecanto, Florida real estate market has shown a downward trend in home prices. As of October 2023, the median listing home price was recorded at $374.7K, representing a decrease of 6.1% compared to the previous year. This decline indicates a softening of the market, with property values adjusting downwards. The median listing price per square foot stood at $195, providing a gauge for the valuation of properties relative to their size. This decrease in listing prices suggests a market where buyers might have more negotiating power, and sellers may be adjusting their expectations in response to market conditions.
The real estate activity in Lecanto has been steady, evidenced by the 348 transactions recorded over the past year. The median value for these residential home transactions was approximately $333,830. Additionally, the sale price per square foot also showed a decline, with an average of $167, a 4.0% drop from the previous year. Homes in Lecanto were selling for about 4.2% under the listing price on average, and they remained on the market for an average of 28 days. These indicators suggest a somewhat buyer-friendly market, where properties are staying on the market slightly longer, and buyers may find opportunities for better deals due to the overall downward trend in prices.