Southwest Florida Real Estate Market Update
In June, Single Family Home Active listings in Lee County were up 49.4% with 4,501 Active listings compared to June of last year with 3,012 Active listings. Condo & Townhouse Active listings were up 100.7% with 1,985 Active listings. It is still more of a Seller’s market than a Buyer’s market. In June we had a 4.1-month supply of inventory for Single Family Homes and a 4.3-month supply of inventory for Condos & Townhouses. A balanced market would be more like a 6-month supply of inventory. Sellers continue to have more competition and need to price their homes appropriately.
Single Family Home Sales Prices in June were down year-over-year. The Median Sales Price for Single Family Homes in Lee County was $430,000, down 4.4% compared to last year. The Median Sales Price for Condos & Townhouses was $325,999, down 7.1% compared to June 2022.
Cash sales are making up a huge percentage of the Single Family Home sales, as well as the Condo & Townhouse sales. In June, there were 421 Single Family Home cash sales, 32% of all Single Family Home sales in Lee County. 309, or 62% of Lee County’s June Condo & Townhouse sales were cash sales.
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 June’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.
Lee County Single Family Home Sales – June 2023
Market Historical Data
Below is the historical sales data showing the Median Sales Prices for Single Family Homes in Lee County by month from January 2020 through June 2023, for your reference. As you can see, the height of the market was April 2022. Prices were on a decline May through December, with a spike in October, So far in 2023, we’ve seen some fluctuation in the Median Sales Price month-to-month, as we are in 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
