Southwest Florida Real Estate Market Update
In January, Single Family Home Active listings in Lee County were up 150.7% compared to January of last year and Condo & Townhouse listings were up 223.2%. While those are huge increases, they relate to a 3.2-month supply of inventory for Single Family Homes and a 2.7-month supply of inventory for Condos & Townhouses. In January 2022 inventory was so extremely low, that we only had a 1.0-month supply of inventory for Single Family Homes and a 0.6-month supply of inventory for Condos & Townhouses. Good news for Buyers, as they have more homes to choose from. Although still a Seller’s market, Sellers do have more competition.
Year-over-year Sales Prices continue to be up. January’s Median Sales Price for Single Family Homes in Lee County was up 1.6% and the Median Sales Price for Condos & Townhouses was up 7.3% compared to January 2022.
While Sales Prices are up over the previous year for the same time frame, they did peak in May of 2022 and have been trending downward compared to the previous month since then, with the exception of a spike in October 2022 and another spike in January 2023 (see 2nd data table below showing the Median Sales Prices for Single Family Homes in Lee County by month from January 2020 through January 2023 for reference).
During the 3rd week of each month, the Florida Association of Realtors® releases the official numbers from the prior month comparing year-over-year activity. Below are some of January’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 will be happy to provide you with a free customized market analysis.
Market Historical Data
Prices are up over the previous year compared to the same time frame, but they did peak in May of 2022 and have been trending downward compared to the previous month since then, with the exception of a spike in October 2022 and another spike in January 2023 Below is the historical sales data showing the Median Sales Prices for Single Family Homes in Lee County by month from January 2020 through January 2023, for your reference.
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
