Lee County Market Trends

March 2020 Lee County Market Trends

What are the latest Lee County Market Trends? According to the latest real estate reports from the Florida Association of Realtors March finished the month with an increase of 15.6 percent in closed sales. However, significant changes to inventory combined with the time of year in Southwest Florida, will impact future sales activity for the next couple of months.

Lee County Market Trends – Single Family Homes

March 2020 versus March 2019 Single Family Home Highlights:

Home sales increased 15.6 percent going from 1,224 Lee County real estate transactions up to 1,415 sales
Pending sales decreased 21.8 percent down from 1,610 last March versus 1,259 this March
Inventory fell 22.6 percent down to 5,416 properties for sale compared to this same time last year when there were 6,994 homes for sale
New listings dropped from 1,651 down to 1,501 which is a 9.1 percent decrease
Days on market decreased to 104 days which is a 5.5 percent decrease versus March 2019
Available inventory of single family homes ended March with a 4.5 months supply of homes available for sale which is a 29.7 percent decrease

So Lee County finished the month of march well above March of last year for closed sales of single family homes. However, based on the decrease in inventory and new listings to the market there has been a shift from a healthy market to a sellers market. Typically, a healthy level of inventory is considered to be 6 to 7 months of supply of homes for sale. With only a 4.5 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 in today’s market.

Lee County Market Trends – Condos and Townhomes

March 2020 versus March 2019 Condo Highlights:

Condo sales increased 16.4 percent going from 648 Lee County real estate transactions up to 754 sales
Pending sales decreased 32.9 percent down from 918 last March versus 616 this March
Inventory fell 23.4 percent down to 3,042 condos for sale compared to this same time last year when there were 3,969 units for sale
New listings dropped from 8380 down to 759 which is a 9.4 percent decrease
Days on market increased to 102 days which is an 6.3 percent increase versus March 2019
Available inventory of condos ended March with a 5.1 months supply of properties available for sale which is a 31.1 percent decrease

Similar to single family home sales, condo sales activity showed virtually the same results. While closed sales finished the month strong, pending sales, inventory and new listings all decreased by double digits. Unlike this time last year, the available inventory has shifted Southwest Florida into 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.

Keys to Selling Your Property Virtually

Southwest Florida Real Estate Reports

Latest Weekly Southwest Florida Real Estate Transactions Recap

Naples Area Market Report

Luxury Golf Community Trends

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.

Should I Use a Realtor or Sell on My Own?

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!

Bottom Line:

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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