July Housing Update

July Housing Update for Lee County

The Lee County July housing update showed there was more than $942 Million in properties closed during July, up from $524 Million last year. In addition to the high dollar amount, the housing market continued to show an increase in the number of closed sales, up 12.7 percent over last July, for both single family homes and condos in Bonita Springs, Estero and Fort Myers. Remarkably, 65 percent of the real estate transactions were cash sales.

Although inventory of homes for sale dropped 62.2 percent, new listings were actually up 9.2 percent compared to the same time frame last year. While new properties were added daily during the month, the demand remained higher than the market was able to accommodate.

Also, due to the continued significant buyer demand combined with so few properties for sale, home values continued there upward trend. Both the average and median sales price increased more than double digits. As such, sellers continued to sell their homes at list price or close to list price. So, the bottom line, it remained a seller’s market.

If you are thinking of selling, you are in the driver’s seat. Contact us today to learn about your home’s value in today’s market. It may be more than you realize.

July Housing Update – Single Family Homes

July 2021 versus July 2020 Single Family Home Highlights:

Closed sales increased 7.5 percent going from 1,404 transactions up to 1,509 sales.
Pending sales decreased 10.2 percent down from 1,753 last July versus 1,574 this July.
Inventory fell 49.9 percent down to 1,611 properties for sale compared to this same time last year when 3,438 homes were for sale.
New listings increased from 1,375 up to 1,611 which was a 17.2 percent increase.
Median days on market decreased to 10 days which is an 86.5 percent decrease versus July of 2020.
Available inventory of single family homes ended June with a 1.1 month supply of homes available for sale, or a 63.3 percent decrease.

Once again, inventory was limited. And although overall new listings increased for the 4th straight month, it wasn’t enough to keep up with the high buyer demand. For those properties that went to market, if the home was priced correctly, there were multiple offers within the first couple of days which contributed to the increase in prices. As a result, the median sales price rose 27.2 percent in July compared to the same time last year.

A new trend which become even more prevalent last month were the number of properties which never hit the market and were sold before they were listed. For example, our team went to contract on 4 properties prior to the homes being listed.

Seller’s continue to have the advantage in the sales process. If you are considering buying a property, patience and persistence is the key to finding the right home. New listings are hitting the market every day, we can help you with automatic property alerts.

If you are selling your home, now would be a great time to cash in on the high buyer demand. You might be surprised to learn how much your home is worth in today’s market.

What is my home worth…

July Housing Update – Condos and Townhomes

July 2021 versus July 2020 Condo Highlights:

Condo sales increased 25.5 percent going from 564 real estate transactions up to 708 sales.
Pending sales decreased 3.4 percent down from 684 last July to 661 this July.
Inventory decreased 78.4 percent down to 564 condos for sale compared to last July when there were 2,608 units for sale.
New listings decreased from 658 down to 610 which was a 7.3 percent decrease.
Median days to contract fell to 11 days which represented an 86.1 percent decrease versus July of 2020.
Available inventory of condos ended June with a less than 1 month supply of properties available for sale which was an 85.7 percent decline.

Unlike the prior month, condo sales significantly outpaced single family home sales. Additionally, condo inventory declined, while single family inventory saw a modest increase. However, just like the single family home market, the low inventory and high buyer demand caused the median sales price to increase from $197,000 up to $245,501 which was a 24.6 percent increase compared to July of last year.

Bottom line, it remains a seller’s market for both condos and single family homes. Are you considering selling? Let’s connect!

Southwest Florida July Housing Update

Naples Golf Guy Newsletter – NEW!

Lee County July Housing Update – Single Family Homes

Lee County July Housing Update – Condos

SWFL Luxury Golf Community Trends

Naples Area Market Report

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

So, if you’re 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 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 buying or selling a home. If you are considering buying in 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.

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