Southwest Florida Real Estate Market Update
In February, Single Family Home Active listings in Lee County were up 163.1% compared to February of last year and Condo & Townhouse listings were up 220.1%. Inventory of homes continues to build, but it is still a Seller’s market. We ended February with a 3.3-month supply of inventory for Single Family Homes and a 3.0-month supply of inventory for Condos & Townhouses. In February 2022, 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. Buyers continue to have more homes to choose from and Sellers do have more competition.
Year-over-year Sales Prices continue to be up. February’s Median Sales Price for Single Family Homes in Lee County was up 9.1%. The Median Sales Price for Condos & Townhouses was $340,000, up 7.9% compared to January 2022.
We had seen a downward trend in Median Sales prices month-to-month May through December of last year, with the exception of a spike in October 2022. We saw another spike in January 2023 and another increase in February (see 2nd data table below showing historical data by month, from January 2020 through February 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 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 will be happy to provide you with a free customized market analysis.
Lee County Single Family Home Sales – February 2023
Market Historical Data
Median Sales Prices continue to be up compared to the previous year for the same time frame. But, they were trending downward month-to-month May through December, with the exception of a spike in October and another spike in January, followed by an increase in February. Below is the historical sales data showing the Median Sales Prices for Single Family Homes in Lee County by month from January 2020 through February 2023, for your reference.
Lee County – Single Family Home Sales – Median Sales Price
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
