Lee County Real Estate Recap
May 2020 Lee County Real Estate Recap
The latest Lee County real estate recap from the Florida Association of Realtors shows May home sales and inventory decreased double-digits compared to the same time last year. However, pending sales increased 2.2 percent during the month. The good news is, now that the state is open, there is increased activity in showings throughout Southwest Florida.
Lee County Market Trends – Single Family Homes
May 2020 versus May 2019 Single Family Home Highlights:
- Home sales decreased 39 percent going from 1,514 Lee County real estate transactions down to 924 sales
- Pending sales increased 2.2 percent up from 1,525 last May versus 1,559 this May
- Inventory fell 27.5 percent down to 4,522 properties for sale compared to this same time last year when there were 6,234 homes for sale
- New listings dropped from 1,413 down to 1,390 which is a 1.6 percent decrease
- Median days on market decreased to 91 days which is a 17.3 percent decrease versus May 2019
- Available inventory of single family homes ended May with a 4 months supply of homes available for sale which is a 29.8 percent decrease
Similar to the rest of the country, Lee County finished the month of May well below last year for closed sales of single family homes. However, the increase in pending sales and the reduction in the number of days homes were on the market decreased which is good news for sellers. As was the case in March and April, inventory and new listings remain low. Typically, a healthy level of inventory is considered to be 6 to 7 months of supply of homes for sale. With only a 4 month supply of Lee County homes for sale, Southwest Florida’s inventory levels make it a seller’s 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 safely in today’s market.
Lee County Market Trends – Condos and Townhomes
May 2020 versus May 2019 Condo Highlights:
- Condo sales decreased 54.5 percent going from 802 Lee County real estate transactions down to 365 sales
- Pending sales decreased 21 percent down from 730 last May versus 570 this May
- Inventory fell 17.1 percent down to 2,827 condos for sale compared to this same time last year when there were 3,410 units for sale
- New listings increased from 593 down to 728 which is a 22.8 percent increase
- Median days on the market decreased to 97 days which is a 25.7 percent decrease versus May 2019
- Available inventory of condos ended May with a 5.2 months supply of properties available for sale which is a 16.1 percent decrease
There were a couple of bright spots for Lee County Condominium sales during the month of May. For buyers, there was a significant increase in inventory gives homebuyers more properties to consider. Additionally, the number of days on market decreased which is good news for sellers. Both of these changes are due to low inventory levels. Despite the significant increase in condos for sale, the overall supply is still below 6 months which makes it a sellers’ market.
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.
Collier and Lee County Real Estate Recap
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.
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!
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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June 23rd, 2020, Posted by NaplesGolfGuy