2019 Lee County March Real Estate Review
2019 Lee County March Real Estate Review
The 2019 Lee County March Real Estate reports show the market is currently balanced with 6.7 months supply of inventory for single-family homes. Additionally, inventory for single-family homes increased by double digits in March of this year compared to March of last year. However, closed sales for both condos and single family homes were lower than last March. Yet, there is still a significant amount of activity with a total of 1,872 properties sold during the month in Lee County.
2019 Lee County March Real Estate Activity for Single Family Homes
2019 Lee County March Real Estate Highlights for Single Family Homes:
- Closed sales decreased 4.4 percent down to 1,224 from 1,228 homes sold
- Inventory Increased 12.1 percent up to 6,994 compared to the last year when there were 6,238 homes for sale
- Median days to contract increased to 72 days which represented a 22 percent increase
- Median sales price fell to $250,400 from $260,00 which was a 3.7 percent decrease over last year
- The total months’ supply of inventory increased by 6.7 percent compared to March of last year
Overall, the single-family market in March was balanced. There is a healthy level of inventory as well as the number of homes sold during the month. Since there are plenty of homes to choose from, homebuyers are taking their time making purchasing decisions. This is evident by the increase in the number of days to contract increasing by 22 percent. We expect this to change in April as we approach the end of season and buyers will move forward and buy their dream home. And, if you are selling your home, be sure you’ve spoken with your realtor about the price level and homes recently sold in your area. It’s critical you are priced right if you want to sell before summer begins.
2019 Lee County March Real Estate Activity for Condos
2019 Lee County March Real EstateHighlights for Condos:
- Closed sales decreased 15.7 percent down to 648 from 769 condos sold
- Inventory rose 7.4 percent up to 3,969 compared to the previous year when there were 3,697 condos for sale
- Median days on the market decreased to 96 days which represented a 4 percent decrease
- Average sales price decreased slightly, 4.6 percent to $242,731 from $253,979 last year
- The total months’ supply of inventory increased by 5.7 percent compared to March of 2018
Overall, the condo market is still in a healthy range. Although condo sales in March were down double digits compared to the same time last year, both the average sales price and median sales price increased for the month. This is a great sign for sellers who are still capturing their home appreciation. It also means sellers are pricing their homes appropriately. On the flip side, with inventory increasing by 7.4 percent for the month we are starting to approach a buyers market for condos. A healthy market is typically a 6-7 month supply of inventory. We are headed towards the 8 percent level which would push us into a buyers market. If you are selling a condo, with the increased inventory you should make sure you price your home accurately to maximize your return on investment (ROI).
For information about a specific community or home contact us today for more information.
View More 2019 Lee County March Real Estate Market Reports:
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So, if you’re ready to begin your search for a South Florida Luxury Golf Property or your dream home or condo, we encourage you to explore our website to find information about homes in the area. If golf is your game, we specialize in golf community real estate and would be happy to help you navigate the more than 150 different golf communities to find the best golf properties available. If you prefer a more direct approach, we will provide a list of golf homes that meet your criteria and/or communities that meet your needs. For more information about the golf homes or golf condos in southwest Florida please reach out to us directly!
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If you are looking to sell a home in Bonita Springs, Estero, Naples or Ft. Myers, we encourage you to work with a REALTOR® who has the experience and knowledge to provide an accurate market comparison so you can determine the right asking price. If you live in a golf community in southwest Florida, you are competing with more than 150 other golf communities. Contact us today to learn how your home or condo stacks up against the competition and how we can position your property to sell quickly and for a fair price.
If you’re looking for a focused and goal-oriented Realtor in southwest Florida who will help you achieve your Real Estate needs, please reach out to me directly. Additionally, if you are looking for a golf community expert or you are considering buying or selling a home, a luxury home, luxury vacation home, luxury golf home or dream home, call me or text me on my mobile phone at 239-370-0892 or email me at Matt@NaplesGolfGuy.com
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April 23rd, 2019 Posted by Matt