April 2020 Lee County Real Estate Report
As expected, the latest Lee County real estate report from the Florida Association of Realtors show April home sales, pending sales and inventory decreased double-digits compared to the same time last year. However, prices remained steady with both the median sales price and the average sales price both increasing during the month. The good news is, as states reopen, we are starting to see increased activity in showings throughout Southwest Florida.
Lee County Market Trends – Single Family Homes
April 2020 versus April 2019 Single Family Home Highlights:
- Home sales decreased 14.1 percent going from 1,362 Lee County real estate transactions down to 1,170 sales
- Pending sales decreased 36.9 percent down from 1,657 last April versus 1,046 this April
- Inventory fell 22.9 percent down to 5,112 properties for sale compared to this same time last year when there were 6,633 homes for sale
- New listings dropped from 1,518 down to 1,007 which is a 33.7 percent decrease
- Days on market decreased to 92 days which is a 15.6 percent decrease versus April 2019
- Available inventory of single family homes ended April with a 4.3 months supply of homes available for sale which is a 29.5 percent decrease
Similar to the rest of the country, Lee County finished the month of April well below last year for closed sales of single family homes. However, the number of days on market also decreased which is good news for sellers. As was the case in March, inventory and new listings remain low. Typically, a healthy level of inventory is considered to be 6 to 7 months of supply of homes for sale. With only a 4.3 month’s supply of Lee County homes for sale, Southwest Florida’s inventory levels make it a sellers market.
So, if you are considering selling a home, now would be a great time. Let’s connect to talk about your home’s value and how we can leverage technology to help sell your home safely in today’s market.
Lee County Market Trends – Condos and Townhomes
April 2020 versus April 2019 Condo Highlights:
- Condo sales decreased 31.2 percent going from 823 Lee County real estate transactions down to 566 sales
- Pending sales decreased 56.2 percent down from 812 last April versus 356 this April
- Inventory fell 21.1 percent down to 2,970 condos for sale compared to this same time last year when there were 3,763 units for sale
- New listings dropped from 988 down to 520 which is a 44.9 percent decrease
- Days on market decreased to 85 days which is an 22 percent decrease versus April 2019
- Available inventory of condos ended April with a 5.1 months supply of properties available for sale which is a 26.1 percent decrease
Similar to single family home sales, condo sales activity showed similar results. With inventory at low levels the Southwest Florida condo market is also a sellers market with a 5.1 months supply of inventory.
So whether you are planning to sell now or sometime in the future, now is a good time to connect with an agent to learn what your home is worth.
Collier and Lee County Real Estate Reports
If you are Considering Selling Your Home Keep These Tips in Mind
If you are thinking about selling a home in Bonita Springs, Estero, Naples or Fort Myers, we encourage you to work with a Professional Real Estate Agent or REALTOR® who has the experience and knowledge to provide an accurate market comparison so you can determine the right asking price. Now more than ever, an agents presence on the internet is critical to selling your home. What type of on-line marketing does your agent offer? High end videos and photography, e-mail marketing, social media marketing and more.
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.
Begin Your Naples Property Search
So, if you’re ready to begin your search for your Naples home, or a Southwest Florida Luxury home or condo, we encourage you to explore our website to find information about communities 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 in our area. If you prefer a more direct approach, we will provide a list of properties that meet your criteria and/or communities that meet your needs.
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. In fact, we may be able to help you save money and negotiate for extras which the builder may not let you know about.
Lastly, we will handle all contract negotiations for your property from offer to close!
If you’re looking for a focused and goal-oriented real estate representative in Naples, Bonita Springs, Estero or Fort Myers who will help you achieve your Real Estate needs, please reach out to us directly. Additionally, if you are looking for a golf community expert or you are considering buying or selling a home, a luxury home, vacation home, golf home or dream home, call us or text us at 239-370-0892 or email Matt at Matt@NaplesGolfGuy.com
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May 26th 2020, Posted by NaplesGolfGuy