January Housing Market Report

Lee County January Housing Market Report

Lee County January Housing Market ReportThe January housing market report for Lee County showed 1,206 properties sold for just over $675 Million during the month. Lee 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 108 properties sold at or above $1 Million, up from 75 luxury sales during December. The highest price sale was condo in one of the Omega High Rises in Bonita Bay for $6.5 million.

Eighty percent of the top 10 highest priced homes sold in Lee County were luxury golf homes priced between $3,495,000 and $6,500,000. Golf communities represented were Bonita Bay and The Colony at Pelican Landing. On average, homebuyers paid 98% of list price for the top 10 most expensive homes sold in Lee County.

Despite the recent storm, Florida remains a prime destination for retirees. In fact, SmartAsset recently announced Florida as the Best Overall State for Retirement. Why? Favorable taxes, pleasant climate, and reasonable cost of living.

And it is not just retirees moving to the state. Businesses are relocating their headquarters to the Sunshine state for several reasons. Forbes ranked Florida the 5th best state for businesses. The state is also at the top of the list in the Kauffman Early-Stage Entrepreneurship Index. Not to mention the favorable tax policies for both businesses and their employees.  Are you ready to relocate your business and employees?

Lee County January Housing Market Report – Single Family Homes

2023 Lee County Housing Market Report for Single Family Homes

January 2022 versus January 2022 Single Family Home Highlights:

  • Closed sales decreased 21 percent going from 1,099 transactions down to 868 sales.
  • Pending sales decreased 19.5 percent down from 1,643 last January versus 1,323 this January.
  • Inventory increased 150.7 percent up to 3,803 properties for sale compared to this same time last year when 1,517 homes were for sale.
  • New listings increased from 1,574 up to 1,717 which was a 9.1 percent increase.
  • Median days on market increased to 34 days which was a 100 percent increase versus January of 2022.
  • Available inventory of single-family homes ended January with a 3.2 months’ supply of homes available for sale which was up from a 1 months’ supply during January of 2022.

Once again, the median sales price for single-family homes showed a modest increase over January of 2022, up from $413,500 to $420,000 which was a 1.6 percent jump. Similar to the prior month, median sales price also increased from December when the median sales price was $407,950. 

Although inventory rose compared to last year by more than 150 percent, month-over-month it only rose 6.5 percent. However, that is a step in the right direction compared to the prior month when inventory only increased 1 percent. Similar to the rest of Southwest Florida, inventory is moving in the right direction but at a slow pace.

Once again, the percentage increases year-over-year are misleading. Prior to the pandemic, in January of 2019 there were 7,104 single-family homes for sale (6.5 months’ supply). A healthy, balanced market is typically more than 6 months’ supply. At just over a 3 months supply of homes available for sale, we are only half way back to a healthy market.

Finally, days on market went back up to 34 days compared to 33 days in December. With low inventory and low days on market, it is still a Seller’s market. So if 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 January Housing Market Report – Condos and Townhomes

2023 Lee County Housing Market Report for Condos


January 2023 versus January 2022 Condo Highlights:

  • Condo sales decreased 34 percent going from 512 real estate transactions down to 338 sales.
  • Pending sales decreased 24.3 percent down from 769 last January to 582 this January.
  • Inventory increased 223.2 percent up to 1,409 condos for sale compared to last January when there were only 436 units for sale.
  • New listings increased slightly from 769 up to 826 which was a 7.4 percent increase.
  • Median days to contract increased to 24 days which represented a 140 percent increase versus January of 2022.
  • Available inventory of condos ended January with a 2.7 months’ supply of properties available for sale which was a 350 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 2.7 month’s supply and it is not much of an increase over last month when there was 2.2 months’ supply of condos for sale. A balanced market would be a 6-7 months’ supply of condos for sale.

The median price for the month was $320,000 which was a 7.3 percent increase over January of 2022. However, compared to the prior month, the median price fell slightly from $329,950.

Finally, it is notable 70 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 which might fit your criteria. To stay up to date sign up for automatic property alerts.

Bottom line, it is a seller’s market for both condos and single-family homes. If 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 prior to listing your home, 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 January Housing Market ReportSW Florida Real Estate Trends

Naples Golf Guy Monthly Report – NEW!

2023 Lee County January Housing Market Report Single Family Homes

2023 Lee County January Housing Market Report Condos

Naples Housing Market Update

Begin Your Own Search for a Southwest Florida Vacation Home or Second Home:

demand for vacation homes remains strongSo, if you are ready to begin your search for your dream home or condominium in Southwest Florida, 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.

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 manage all contract negotiations via paperless transactions for your property from offer to close!

Should I use a Realtor if I’m buying New Construction?

Should You Sell Your Home?

Naples Golf Guy Team Matthew Klinowski Michele Klinowski Mike Pepple Mackenzie Davis

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 with an emphasis on 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 and 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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Results You Can Count On

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.

Matthew Klinowski Naples Golf GuyLuxury Real Estate AgentThe above information was written by Naples Golf Guy, Matthew Klinowski P.A., an expert for nearly 20 years in Southwest Florida Luxury Golf Community real estate.

Contact Matt:  Matt@NaplesGolfGuy.com

or at 239-370-0892

February 26th, 2023 Posted by Matt