BONUS: How's the SWFL Real Estate Market Doing?

 

This Week's Freebie: Lee County Market Report Update

Click on the links below to open the PDF reports

SINGLE FAMILY HOMES

Detailed Lee County Market Report PDF 

Summarized Lee County Market Report PDF 

CONDOS & TOWNHOMES

Detailed Lee County Market Report PDF 

Summarized Lee County Market Report PDF 

 

2020 is unfolding to become an important year in history! A new decade, an upcoming general election, coronavirus, historic record low interest rates - you name it, it seems like 2020 has it.
So... "How's the market doing?" you ask? Well, let's get right into that! 
2020 season so far has been the busiest yet. We know you likely hear this every year, but we can back it up with stats! 
Let's just say that the most 2020 Lee County Market Report opened with the promising headline, "Closed Sales Up Double Digits Again for January!" 
In an effort not to bore you to death but keep you well-informed, here is our quick bullet summary:

SINGLE FAMILY HOME 2020 Lee County Market Stats

  • Double digit increases in single family sales compared to January 2019, according to the latest statistics just released by Florida Realtors®
 
  • Sales are up 25.37% year-over-year
 
  • January 2020 median sales price is up by 2.1%
 
  • Inventory is down 22.3% year-over-year
 
  • There are 4.7 months supply of inventory on the market
 
  • It took on average 58 days on market to sell in January 2020
 

CONDO & TOWNHOME 2020 Lee County Market Stats 

  • Sales are up 15.9% year-over-year
  • January 2020 median sales price is up by 8.2%
  • Inventory is down 24.4% year-over-year
  • There are 5.3 months of supply of inventory on the market
  • It took an average of 64 days to sell in January 2020

Some General Lee County Market Stats Thoughts:

  • Great news for all the property owners in the $600,000-$999,999 price range! Closed sales in this price bracket are up a whopping 84.2%
  • Pending and closed sales have been steady throughout SWFL
  • Limited inventory presents challenges for buyers - less choices, meaning buyers can't be as picky when it comes to properties needing repairs or renovations
  • The cost of homeownership still remains often less than paying rent in SWFL
  • Rent prices continue to increase dramatically. This coupled with historically low interest rates provides more incentive to buy and build equity
  • 3-bedroom, single family homes are the most sought after
  • For January 2020, Realtor.com reported a massive 62% increase in search result page views for Bonita Springs and Estero compared to December 2019 (now 15.6 million views, which exceeds the highest number of views of just under 15 million back in March 2019)

NEW THIS WEEK! Fort Myers Area Houses & Condos for Sale