November Housing Update
November Housing Update for Lee County
The Southwest Florida November housing update for Lee County showed a significant jump in closed sales activity for both single family homes and condos for the month. Closed sales of single family homes increased 36 percent and condos increased 53 percent. Pending sales for both single family homes and condos also showed significant increases over the same time list year.
As a result of the increased closed and pending sales, the number of homes for sale continues to fall and it remains a seller’s market. Home prices continue to trend upwards due to the lack of inventory in Bonita Springs, Estero and Fort Myers.
So, if you are considering selling, you are in the driver’s seat. Now would be an a good time to connect with a real estate professional to learn about your home’s value in today’s market.
November Housing Update – Single Family Homes
November 2020 versus November 2019 Single Family Home Highlights:
- Closed sales increased 36.3 percent going from 1,001 transactions up to 1,364 sales
- Pending sales increased 31.1 percent up from 1,175 last November versus 1,541 this November
- Inventory fell 48.6 percent down to 2,737 properties for sale compared to this same time last year when there were 5,322 homes for sale
- New listings decreased from 1,384 down to 1,340 which is a 3.2 percent decrease
- Median days on market decreased to 27 days which is a 59.7 percent decrease versus November 2019
- Available inventory of single family homes ended November with a 2.2 months supply of homes available for sale which is a 53.2 percent decrease
Activity over the past five months has been record setting. Once again, the Lee County area saw a significant amount of single family homes closing as well as home going to contract. Also, there was a significant decrease in the number of days from a property being listed until it went under contract. Buyers should be prepared to make an offer quickly if they see a property they are interested in purchasing. Not only are properties going to contract quickly, there are often multiple offers being submitted at the same time.
Also, similar to last month the number of new listings decreased making our inventory levels exceptionally tight. For 8 consecutive months, inventory has declined each month. We are now at a point we only have a 2.2 months’ supply of single family homes for sale. Typically, a healthy level of inventory is considered to be 6 to 7 months’ supply of homes.
Bottom line, it remains a seller’s market. If you are considering selling a home, now is a great time to maximize the value of your home.
Lee County November Housing Update – Condos and Townhomes
November 2020 versus November 2019 Condo Highlights:
- Condo sales increased 53.2 percent going from 474 real estate transactions up to 726 sales
- Pending sales increased 30.5 percent up from 594 last November versus 775 this November
- Inventory decreased 32.3 percent down to 2,054 condos for sale compared to this same time last year when there were 3,033 units for sale
- New listings decreased from 722 down to 692 which is a 4.2 percent decrease
- Median days to contract decreased to 46 days which is a 31.1 percent decrease versus November 2019
- Available inventory of condos ended November with a 3.4 months supply of properties available for sale which was a 37 percent decrease
Similar to single family homes, condo closings and those going to contract increased significantly during November. At the same time, the number of homes for sale decreased more than 30 percent which bring us down to a 3.4 months’ supply of condos for sale, Therefore, we continue to be in a sellers’ market.
Ultimately, homebuyers are looking for larger homes in a gated community. With the flexibility to work from anywhere, many families are looking for homes with plenty of space for a home office, home fitness, home schooling and plenty of room for the whole family.
Finally, interest in second homes or vacation homes in a warm, sunny climate to spend the winter are driving sales in all of Southwest Florida.
If you are ready to make a move to Southwest Florida, let’s connect to discuss your real estate needs.
Begin Searching for Luxury Homes for Sale in Southwest Florida:
So, if you’re ready to begin your search for properties for sale in a gated golf community in Southwest Florida, we encourage you to explore our website to find information. If golf is your game, we specialize in golf community real estate and would be happy to help you navigate the various golf communities to find the best golf homes available.
If you prefer a more direct approach, we will provide a list of golf homes that meet your criteria and/or communities that meet your needs. For more information about the best properties in private golf clubs in southwest Florida please reach out to us directly!
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 purchasing. If you are considering 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.
Selling Your Home? Work with an Experienced Luxury Realtor
In today’s rapidly changing market, it’s critical to make sure you have a digital game plan and an effective online marketing strategy when selling your home, especially if you are selling a luxury home. One of the ways your agent can help with this is to make sure your listing photos and virtual tours stand out from the crowd, truly giving buyers a detailed and thorough view of your home.
So, if you’re ready to move forward, virtual practices we can help make your sale happen. We know exactly what today’s buyers need, and how to put the necessary digital steps in place. For example, according to the same survey, when asked to select what technology would be most helpful when deciding on a new home, here’s what today’s homebuyers said, in order of preference:
- Virtual tour of the home
- Accurate and detailed listing information
- Detailed neighborhood information
- High-quality listing photos
- Agent-led video chat
- Paperless transactions
So, if you are contemplating 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. Let’s connect to talk about how we would leverage new real estate technology such as virtual tours and high end photography, e-mail marketing, social media marketing and much more.
Finally, 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.
Contact Matt: Matt@NaplesGolfGuy.com
December 31st, 2020, Posted by NaplesGolfGuy