Prices for lakefront and waterfront properties vary considerably. It is a common mistake for folks to study lakefront values by a dollar per square foot or "average" selling price. Waterfront property pricing is so strongly effected by factors that don't necessarily relate to the house itself.

Florida's waterfront real estate values have been in decline just like other properties since the market peaked in '05 / '06. Lakefront property values have definitely held up better than other types, but they were by no means insulated from the housing bubble.

If you're looking for a steal on a waterfront home, I hate to disappoint you, but so are a lot of people. Waterfront foreclosures, short sales, and bank-owned (REO) props are the new reality, but even these properties do not sell for pennies on the dollar.

Factors that influence lake home values include:

Location, location, location - cliched, but true, true, true.
Lake size - ski lakes will typically command higher prices
Lakefront lot acreage and home square footage
Amenities - both in the community and on the property itself
Lake characteristics

I"m in the process of updating this area of the site to give folks an idea of what they can anticipate in different locations and segments for waterfront sales prices on popular Florida lakes and waterfront. In the mean time, call or email if I can answer anything specifically.