February Housing Update
February Housing Update for Lee County
The Lee County February housing update showed there was more than $628 Million in properties closed during the month of February up from $381 Million last year. Similar to January, pending sales for both single family homes and condos showed significant increases over the same time last year.
Inventory remains a challenge due to the increase in closed and pending sales. The number of Lee County homes for sale fell more than 60 percent versus February of last year. Home prices continue to trend upwards due to the lack of inventory in Bonita Springs, Estero and Fort Myers. Additionally, sellers are getting close to list price for their homes and in some cases, more than list price. As a result, it remains a seller’s market.
So, if you are considering selling, you are in the driver’s seat. Now would be an an excellent time to connect with a real estate professional to learn about your home’s value in today’s market.
February Housing Update – Single Family Homes
February 2021 versus February 2020 Single Family Home Highlights:
- Closed sales increased 24.7 percent going from 1,036 transactions up to 1,292 sales
- Pending sales increased 25.3 percent up from 1,594 last January versus 1,998 this February
- Inventory fell 64.5 percent down to 1,916 properties for sale compared to this same time last year when there were 5,402 homes for sale
- New listings decreased from 1,583 down to 1,547 which was a 2.3 percent decrease
- Median days on market decreased to 29 days which is a 61.3 percent decrease versus February 2020
- Available inventory of single family homes ended January with a 1.4 months supply of homes available for sale which is a 69.6 percent decrease
Buyers continue to look for large single family homes with plenty of space for a home office, school children working from home, home fitness and ample space for the entire family. In some cases, buyers are investing in a second home and in others, people are relocating all together.
With such low inventory, if you see a property you are interested in purchasing, be prepared to move quickly and do not be surprised if other offers are submitted.
Bottom line, it remains a seller’s market. If you are considering selling a home, now is a great time to maximize the value of your home.
Lee County February Housing Update – Condos and Townhomes
February 2021 versus February 2020 Condo Highlights:
- Condo sales increased 27.9 percent going from 605 real estate transactions up to 774 sales
- Pending sales increased 42.4 percent up from 910 last February versus 1,296 this February
- Inventory decreased 58.7 percent down to 1,241 condos for sale compared to this same time last year when there were 3,008 units for sale
- New listings decreased from 837 down to 778 which was a 7 percent decrease
- Median days to contract decreased to 47 days which was a 35.6 percent decrease versus February 2020
- Available inventory of condos ended January with a 1.9 months supply of properties available for sale which was a 62.7 percent decrease
Similar to single family homes, condo closings and those going to contract increased significantly during the month. At the same time, the number of homes for sale decreased more than 58 percent which bring us down to a 1.9 months’ supply of condos for sale. As a result, seller’s have the advantage in today’s market.
If you are ready to make a move to Southwest Florida, let’s connect to discuss your real estate needs.
Begin Your Own 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. 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 via paperless transactions for your property from offer to close!
Find a Real Estate Expert Who Specializes in Golf Community Real Estate
Look for an agent who specializes in the type of community or properties you are interested in purchasing. If you are considering a Southwest Florida Golf Community, there are more than 150 golf course communities to chose from. How do you know which one is right for you and your family? Find a specialist who has the knowledge and experience about golf community real estate to help you navigate the various clubs, courses, membership options, amenities and location that will best match your lifestyles.
“Luxury Lifestyle” has different meanings for different people. What does it mean to you? Golf course communities in our area have enhanced their amenities to provide members with the ultimate luxury experience. From wellness centers to pickleball and everything in between. We will help you identify the best communities to visit.
Selling Your Home? Work with an Experienced Luxury Realtor
It is a seller’s market so why work with a realtor? There are over 100 actions required to complete a real estate transaction. From scheduling showings, contract negotiations, organizing inspectors, attorneys and a mountain of paperwork. We’ll save you time!
Additionally, we’ll help ensure your home is priced to maximize the return on your investment.
To ensure you obtain the highest value for your home, it is critical to expose your home to as many potential buyers as possible. As such, a digital game plan and an effective online marketing strategy will help you secure the best and highest offer on your home.
So, if you’re ready to move forward, our virtual practices can help make your sale happen. We know exactly what today’s buyers need, and how to put the necessary digital steps in place. For example, according to a survey, when asked to select what technology would be most helpful when deciding on a new home, here’s what today’s homebuyers said, in order of preference:
- Virtual tour of the home
- Accurate and detailed listing information
- Detailed neighborhood information
- High-quality listing photos
- Agent-led video chat
- Paperless transactions
So, if you are contemplating 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. Let’s connect to talk about how we would leverage new real estate technology such as virtual tours and high end photography, e-mail marketing, social media marketing and much more.
Finally, 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.
Contact Matt: Matt@NaplesGolfGuy.com
March 28th, 2021, Posted by NaplesGolfGuy