As someone who both lives and works on the water, I pay close attention to how national trends ripple through our lakefront communities. In Mid-Q3, price per square foot declined year-over-year in 36 of the 50 largest U.S. metro areas—a clear sign that many major housing markets are cooling off. Nationwide, we saw about a 2% yearly drop in price per square foot, continuing a 10-month stretch of softening across the board. Sellers responded by adjusting their asking prices more aggressively, hoping to bridge the gap with buyers and reflect changing expectations.
High mortgage rates are making affordability a real challenge, especially in areas that saw prices surge during the pandemic. That’s led to some of those boom-time markets giving back a portion of their gains, as inventory levels now sit above pre-pandemic norms. For my sellers, positioning your home thoughtfully and pricing it right is more important than ever. For buyers, honest guidance and local insight can help you navigate this shifting landscape. Whether you’re looking to make a move or simply want to understand what these changes mean for your lakefront property, I’m here to help you approach your next chapter with confidence.
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