Southwest Florida Property Sales
June 2020 Southwest Florida Property Sales
The latest Southwest Florida Property Sales reports show a significant increase in pending sales for both single family homes and condos for the month of June. Overall, homes going to contract increased double-digits compared to the same time last year. However, housing supply continues to be a challenge. For buyers, the low inventory means there are fewer properties available. Due to the low inventory, prices continue to rise in Southwest Florida.
Southwest Florida Property Sales – Single Family Homes
June 2020 versus June 2019 Single Family Home Highlights:
- Home sales decreased 1 percent going from 1,257 Lee County real estate transactions down to 1,245 sales
- Pending sales increased 28.3 percent up from 1,385 last June versus 1,777 this June
- Inventory fell 28.5 percent down to 4,090 properties for sale compared to this same time last year when there were 5,724 homes for sale
- New listings increased from 1,184 up to 1,298 which is a 9.6 percent increase
- Median days on market increased to 113 days which is a 0.9 percent increase versus June 2019
- Available inventory of single family homes ended June with a 3.6 months supply of homes available for sale which is a 30.8 percent decrease
Lee County real estate activity increased significantly during the month of June. In particular, single family homes going to contract were up almost 30 percent. Additionally, closed sales rebounded and move positive with a slight increase compared to May. However, the increase in pending sales decreased further depleting the available inventory. For the past three months, inventory has declined each month to a point we only have a 3.6 month supply of single family homes for sale in Lee County. Typically, a healthy level of inventory is considered to be 6 to 7 months of supply of homes for sale. Additionally, even though new listings increased compared to June of last year, Southwest Florida’s low inventory levels make it a seller’s market.
So, if you are considering selling a home, now would be a great time. Survey’s have shown buyers are looking for larger homes with plenty of space for family and a home office. They are looking for pools, large kitchens and privacy. If you are considering selling, 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
June 2020 versus June 2019 Condo Highlights:
- Condo sales decreased 12.7 percent going from 592 Lee County real estate transactions down to 517 sales
- Pending sales increased 21.5 percent up from 590 last June versus 717 this June
- Inventory fell 14.9 percent down to 2,690 condos for sale compared to this same time last year when there were 3,160 units for sale
- New listings increased from 524 up to 686 which is a 30.9 percent increase
- Median days on the market decreased to 112 days which is a 1.8 percent decrease versus June 2019
- Available inventory of condos ended June with a 5 months supply of properties available for sale which is a 13.8 percent decrease
Similar to single family homes, condos going to contract increased significantly during June. Pending sales went from a double digit decline during May to a double digit increase during the month of June. Although, inventory continues to decline, the number of new condos added to the market increased just over 30 percent. Additionally, the number of days on market decreased which is good news for sellers. Ultimately, 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.
Southwest Florid Property Sales Reports
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 with paperless transactions 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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July 30th, 2020, Posted by NaplesGolfGuy