Southwest Florida Real Estate Market Update
Lee County’s real estate market has seen changes. Single Family Home listings were up 32.0% in July, with 4,545 active listings compared to last year’s 3,442. Condo & Townhouse listings also increased by 92.3%, totaling 1,971 active listings compared to last year’s 1,025. Despite this, it’s still more of a Seller’s market. July’s inventory was at a 4.2-month supply for Single Family Homes and 4.4-month supply for Condos & Townhouses. A balanced market would be around a 6-month supply. Median Sales Prices were down year-over-year: $417,000 for Single Family Homes (down only 0.7%) and $322,500 for Condos & Townhouses (down 3.7%). Single Family Homes did see an increase in the Average Sales Price over last year. Cash sales continue to make up a significant portion of sales. In July, 31% of Single Family Home sales and 58% of Condo & Townhouse sales were cash transactions.
Every third week, the Florida Association of Realtors® releases the official numbers comparing year-over-year activity from the previous month. Below are July’s figures for your reference. If you want details on a particular neighborhood development, city or zip code, please let me know. I’d be glad to provide you with a free custom market analysis.
Market Historical Data
The sales data indicates that the highest point in the market was in April 2022, with a median sales price of $470,000. However, from May to December of that year, prices experienced a decline, with a notable spike in October. In 2023, there’s been some fluctuation month-to-month, reflecting a more normal market.
Real estate market conditions are always changing. Invariably, Sellers and Buyers need to turn to a local experienced Realtor® for their expertise, knowledge, and support. I have a proven track record and pride myself in helping people make knowledgeable real estate decisions, as well as making the process as easy as possible. If you are interested in buying or selling a home in Southwest Florida or know someone who might be, please call me at 239-699-3498 or email me at sue.jones@c21.com.
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®
Direct: 239.699.3498
Sue.Jones@Century21.com
SueJonesRealtor.com
3409 Del Prado Blvd S #103,
Cape Coral, FL 33904
