Southwest Florida Real Estate Market Update
Lee County’s real estate market has seen changes. Single Family Home listings were up 34.5% in August, with 4,682 active listings compared to last year’s 3,481. Condo & Townhouse listings increased by 90.9%, totaling 2,010 active listings compared to last year’s 1,053. Despite this, it is still more of a Seller’s market. August’s inventory was at a 4.4-month supply for Single Family Homes and 4.3-month supply for Condos & Townhouses. A balanced market would be more like a 6-month supply. The number of Single Family Home sales was up over last year by 0.3% in August and the number of Condo & Town House sales was down slightly, by 1.3%. Median Sales Prices were down for August Single Family Home sales year-over-year at $405,810 (down 3.6%) and were up for Condos & Townhouses at$345,000 (up 7.8%). Cash sales continue to make up a significant portion of sales. In August, 35% of Single Family Home sales and 61% 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 August’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
Sales data indicates that the highest point in the market since January 2020 was in April 2022, with a median sales price of $470,000. From May to December of 2022, Lee County’s Median Sales Prices experienced a decline, with a notable spike in October. Looking at 2023, there was some fluctuation month-to-month during the first 5 months off the year, with the past 5 months coming in under last year. June through August of this year, Median Sales Prices in Lee County have been trending down month-to-month (see below data for 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 firstname.lastname@example.org.
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