April Housing Market Report
Lee County April Housing Market Report
The April housing market report for Lee County showed 1,908 properties sold for just over $1.1 Billion during the month. The County includes Bonita Springs, Cape Coral, Captiva, Estero, Fort Myers, Fort Myers Beach, Miromar Lakes, Sanibel, and surrounding areas.
The luxury market remained active with 153 properties sold at or above $1 Million during April. The highest-priced sale was a luxury condominium in Bonita Bay overlooking the Gulf of Mexico for $9.1 Million.
Sixty percent of the top 10 highest-priced homes sold in Lee County were luxury golf properties priced between $3,425,000 and $9,125,000. Golf communities represented were Bonita Bay and Mediterra.
Sales remained strong in the greater Ft. Myers area. In fact, according to a recent study by Bankrate, Fort Myers was the third hottest metro area in the country.
It is important to remember real estate trends are local. Most importantly, according to Chief Economist Ali Wolf, “There is no national housing market,” she continues. “Every single city and every single street across the country has its own unique housing market.”
Now more than ever, it’s critical to connect with a local real estate expert to help you navigate the market. Whether you are buying or selling, we’ll put 23 plus years of experience to work for you and your family.
Lee County April Housing Market Report – Single-Family Homes
April 2023 versus April 2022 Single Family Home Highlights:
- Closed sales decreased 19.7 percent going from 1,621 transactions down to 1,301 sales.
- Pending sales decreased 5.6 percent down from 1,651 last April versus 1,559 this April.
- Inventory increased 122.3 percent up to 4,189 properties for sale compared to this same time last year when 1,884 homes were for sale.
- New listings decreased from 1,836 down to 1,746 which was a 4.9 percent decline.
- Median days on market remained at 33 days which was a 230 percent increase versus April of 2022.
- Available inventory of single-family homes ended April with a 3.8 months’ supply of homes available for sale which was up from a 1.3 months’ supply during April of 2022.
The median sales price for single-family homes fell slightly compared to last year and was slightly lower than the prior month when the median price was $437,000.
Although inventory is up significantly year-over-year, it fell from 4,225 homes for sale in March down to 4,189 homes for sale in April. If you are a Seller that means you are still in the driver’s seat as the supply of single-family homes remained at just a 3.8 months’ supply. A more balanced market is typically a 6-7 months supply of homes for sale.
If you live in Lee County and you want to maximize the value of your home, contact us today. Call, email, or text us today for a FREE market analysis – 239.370.0892.
If you are considering buying a property, now is a good time to start watching the communities you are most interested in using our automatic property alerts. If you are not sure which communities fit your lifestyle, contact us and we’ll help you target the neighborhoods which offer the amenities and lifestyle you would like to enjoy.
Lee County April Housing Market Report – Condos and Townhomes
April 2023 versus April 2022 Condo Highlights:
- Condo sales decreased by 25.7 percent going from 817 real estate transactions down to 607 sales.
- Pending sales decreased 29.2 percent down from 815 last April to 577 this April.
- Inventory increased 174.6 percent up to 1,895 condos for sale compared to last April when there were only 690 units for sale.
- New listings decreased from 943 down to 780 which was a 17.3 percent decline.
- Median days to contract increased to 25 days which represented a 257.1 percent increase versus April of 2022.
- Available inventory of condos ended April with a 3.9 months supply of properties available for sale which was a 290 percent increase over last year.
Similar to last month, despite the increase in inventory, the Lee County Condo market remains a strong Seller’s market. The number of condos for sale is still low at just a 3.9 month’s supply. The good news for buyers, inventory rose month-over-month going from 1,780 in March up to 1,895 in April. So condo inventory continues to move towards a balanced market which would be a 6-7 months’ supply of condos for sale.
Also, condo prices continue to increase. The median price for the month was $347,500 which as a slight increase over April of of 2023 and a small increase over the prior month when it was $346,250.
Finally, it is notable that once again 67 percent of condo sales were paid in cash. If you are planning on leveraging a loan for your condo purchase, you are still competing with a significant number of cash buyers. Regardless of when you plan to purchase, if you are a buyer, it may be time to start taking a closer look at homes for sale in neighborhoods that might fit your criteria. To stay up to date sign up for automatic property alerts.
Bottom line, like most of Florida, Lee County remains a Seller’s market for both condos and single-family homes. If the inventory remains low, and demand remains strong, prices will continue to rise. If you are considering selling, call, email, or text us today to discuss your home’s value in today’s market.
Not only will we help you determine what if any repairs should be made before listing your home, but we will also provide current market data to determine the optimum selling price.
Whether you are buying or selling we have real estate specialists who cover the Gulf Coast from Naples to Sarasota.
Southwest Florida April Housing Market Report
April 2023 Lee County Real Estate Stats – Single Family Homes
April 2023 Lee County Real Estate Stats – Condos
Begin Your Search for a Southwest Florida Vacation Home or Second Home:
There are more than 150 different golf communities in our area and most of them have a private golf course within the community. It can be challenging to navigate the plethora of communities, membership options, golf course design, amenities, and more. We will help provide you with a list of the top private golf communities which match your lifestyle.
Also, if you are considering new construction, remember the contractor’s real estate agent represents the builder’s best interest, not yours. There is no cost for you to have an agent represent you. We may be able to help you save money and negotiate for extras that the builder may not let you know about.
Lastly, we will manage all contract negotiations via paperless transactions for your property from offer to close!
Should You Sell Your Home?
While it is still a seller’s market, it won’t last forever. Inventory is starting to increase offering buyers more options. Additionally, we are starting to see prices drop on homes recently listed.
Our team is committed to extraordinary customer service, emphasizing detail and frequent communication.
We collaborate with our sellers to design and implement a customized marketing campaign to present your property to the world. We are dedicated to making the sales process easier for you and your family.
We would very much like to meet you, learn about your home, and help provide a stress-free selling environment for you and your family.
Call, email , or text us today for a FREE market analysis – 239.370.0892.
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The Naples Golf Guy Team, as seen on Forbes, is committed to extraordinary customer service with an emphasis on detail. Professionalism, integrity, and discretion are not goals, they are standards. We collaborate with our sellers to design and implement a customized marketing campaign to present your property to the world. If you are a buyer, we are committed to helping you find the community which will allow you to live the ultimate Florida lifestyle in Paradise.
Contact Matt: Matt@NaplesGolfGuy.com
May 25th, 2023 Posted by Matt