2022’s hot market has officially cooled

REAL ESTATE

End-of-year data on escrows in Leisure World indicate that, after a hot market for real estate in 2022, the market is cooling down—evidenced by declining home prices and a decline in the number of home sales in 2023.

Prices for homes in 2023 were 19%loweronaveragecomparedto 2022, and 11% fewer homes sold. The busiest months were April, August and October.

The move-in fee associated with escrows helps offset assessments.

Despite the slowdown, LW’s real estate market remains active. As of Dec. 31, 2023, there were 40-70 active MLS listings in each Mutual.

See page 2 for more information on escrows.