Southwest Florida Real Estate Market Update
Although interest rates are on the increase, low inventory and high demand continue to push up home prices. In February, Single Family Home Active listings in Lee County were down 23.3% compared to last year and Condo & Townhouse listings were down 61.1%. That relates to a 1-month supply of inventory for Single Family Homes and a 0.6-month supply of inventory for Condos & Townhouses.
Very much a Seller’s Market, February’s Median Sales Price for Single Family Homes in Lee County was up 24.3% and the Median Sales Price for Condos & Townhouses was up 40%.
During the 3rd week of each month, the Florida Association of Realtors releases the official numbers from the prior month’s activity. Below are some of February’s numbers, for your reference. If you are interested in learning more about market activity in a specific neighborhood, development, city, or zip code, please let me know. I would be happy to provide you with a customized market analysis.
Lee County Single Family Home Sales – February 2022
Closed Sales 1,239 (Feb 2022) 1,292 (Feb 2021) -4.1%
Median Price $410,000 (Feb 2022) $329,950 (Feb 2021) +24.3%
Average Price $569,697 (Feb 2022) $486,406 (Feb 2021) +17.1%
Active Listings 1,469 (Feb 2022) 1,916 (Feb 2021) -23.3%
(Source Florida Association of Realtors, Data released March 18, 2022)
If you are looking to sell your home quickly and on the best possible terms, now is the time. Let’s connect to discuss how you can secure a speedy, top-dollar sale of your home, and net you more proceeds.
Although we are in a great Seller’s market, I don’t cut corners. My marketing plan and strategy to sell your home is solid. I’ll help you make a knowledgeable real estate decision you will feel good about, and I will make the process as easy as possible for you. Call me at 239-699-3498 or email me at sue.jones@C21.com.
CAPE CORAL’S POPULATION IS 200,000+ AND STILL GROWING!
From the City of Cape Coral’s Office of Economic & Business Development
Florida’s 8th largest city was recently ranked fifth in the United States for mid-sized cities (100,000+ population) with the highest growth rates occurring between 2010-20. In that timeframe we experienced a 30% increase in population, which is not surprising when you consider that each month we process approximately 400 single-family permits. We’re happy to say that as we enter the new year in 2022, people continue to flock to Cape Coral.
The City of Cape Coral is experiencing growth and success heading into 2022. Some of the highlights include:
The population for Cape Coral was announced in October at 201,554, which is 30.62% higher than the City’s 2011 population
The unemployment rate dropped to 4.0 percent, remaining below the national and statewide levels
New housing and commercial development in Cape Coral soared in 2021. New single-family and duplex residential building permits increased by 79.49% over last year, with a total estimated dollar volume of $893 million
Vacancy rates for retail, industrial, and office space remained at the low single-digit levels, 1.8 percent for retail, 1.6% for industrial, and 4.9 percent for office
FOR MORE INFORMATION
Go to capecoral.gov/EDO/ where you can sign up to receive City of Cape Coral news and alerts regarding any or all of the following (delivered directly to your email’s inbox):
• City of Cape Coral – News & Announcements
• Coral Oaks Golf Course – News & Events
• Economic & Business Development News
• Parks & Recreation – News & Activities
• Yacht Club – GO Bond / Project Updates
QUESTIONS? I am always available to answer your questions and help you with all of your Real Estate needs. I have Real Estate contacts all over the world. Please don’t hesitate to call me if there is anything I can do for you or someone you know.
Sue Jones | Realtor®
3409 Del Prado Blvd S #103,
Cape Coral, FL 33904