June Housing Update
June Housing Update for Lee County
The Lee County June housing update showed there was more than $1.2 Billion in properties closed during June, up from $591 Million last year. The housing market continued to show a large increase in closed sales, up 43.4 percent over last June, for both single family homes and condos in Bonita Springs, Estero and Fort Myers.
Although inventory of homes for sale dropped 77.7 percent, new listings are actually up 9.4 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 continue to appreciate. As such, sellers continued to sell their homes at list price or close to list price for their homes. So, the bottom line is it remains a seller’s market.
If you are considering 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.
June Housing Update – Single Family Homes
June 2021 versus June 2020 Single Family Home Highlights:
- Closed sales increased 40.6 percent going from 1,245 transactions up to 1,751 sales.
- Pending sales decreased 11.5 percent down from 1,793 last June versus 1,586 this June.
- Inventory fell 58.3 percent down to 1,625 properties for sale compared to this same time last year when 3,895 homes were for sale.
- New listings increased from 1,297 up to 1,606 which was a 23.8 percent increase.
- Median days on market decreased to 11 days which is a 84.5 percent decrease versus June of 2020.
- Available inventory of single family homes ended June with a 1.1 month supply of homes available for sale, or a 68.6 percent decrease.
Similar to Naples and other areas of the country, we continued to see a shortage in inventory. However, on a positive note, new listings increased for the third straight month. Inventory of single family homes remains low and combined with the high buyer demand, home prices continue to rise. The median sales price rose 36 percent in June compared to the same time last year.
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 a property. New listings are hitting the market every day, we can help you with automatic property alerts.
Once you find a property, you’ll need to be prepared to move quickly and anticipate a multiple offer situation. We will help you submit a competitive offer to give you the best chance to secure a contract on the home.
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.
June Housing Update – Condos and Townhomes
June 2021 versus June 2020 Condo Highlights:
- Condo sales increased 79.5 percent going from 517 real estate transactions up to 928 sales.
- Pending sales increased 7.2 percent up from 724 last June to 776 this June.
- Inventory decreased 78.3 percent down to 576 condos for sale compared to last June when there were 2,656 units for sale.
- New listings increased from 686 up to 707 which was a 3.1 percent increase.
- Median days to contract fell to 14 days which represented an 81.3 percent decrease versus June of 2020.
- Available inventory of condos ended June with a less than 1 month supply of properties available for sale which was an 86 percent decline.
Similar to the last couple of months, condo closings increased significantly during the month. However, due to the low inventory, the number of properties going to contract slowed. Due to the low inventory and high buyer demand, the median sales price continued its upward trend. The median sales price increased from $192,000 up to $255,000 which represents a 32.8 percent increase compared to June 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!
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 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.
NaplesGolfGuy offers private client advisory services with an emphasis on detail. Professionalism, integrity and discretion are not goals, they are standards. We are dedicated to exploring, experiencing and navigating the very best in luxury living for our clients.
Contact Matt: Matt@NaplesGolfGuy.com
July 25th, 2021, Posted by NaplesGolfGuy