SWFL September Housing Update

The SWFL September housing update showed there was more than $875 Million in properties closed during September, up from $739 Million last year. Once again, the limited inventory impacted the number of closed sales for the month. Both single family homes and condos saw slight declines in Bonita Springs, Estero and Fort Myers.

Also notable was the percentage of cash transactions during the month. Approximately 42 percent of all transactions were cash in September, which was the same as August and remained lower than July which was 65 percent. So what are the implications? For those who are using a mortgage, you have more opportunities to enter into a contract on a property without having to go up against multiple cash offers.

Additionally, there are signs of improving inventory levels. Unlike August when the number of homes for sale dropped 60 percent, in September the drop in inventory was only 42.5 percent. And there were actually 2,094 new listings which came on to the market compared to 2,200 during the prior month.

Keep in mind, even though new properties were added daily, the demand remained higher than the market was able to accommodate. Several clients have asked if demand is slowing. At this point, there are no indications demand is slowing down. In fact, we anticipate an increase in demand in Southwest Florida due to multiple factors.

Recently, Fort Myers was ranked the seventh best place to retire by US News & World Report with Naples coming in 2nd and Sarasota 1st!

Also notable, the U.S. will be opening up the boarders for international travel for 30 plus countries starting in November. We expect an influx of foreign buyers to enter the market place in search of a vacation home, second home or investment property.

So, if you are considering buying, there are new opportunities every day. However you need to be prepared to move very quickly as it remains a seller’s market.

If you are thinking of selling, you are in the driver’s seat. Contact us today to learn about your home’s value in our current market. It may be more than you realize.

SWFL September Housing Update – Single Family Homes

September 2021 versus September 2020 Single Family Home Highlights:

Closed sales decreased 1.9 percent going from 1,444 transactions down to 1,416 sales.
Pending sales decreased 17.5 percent down from 1,832 last September versus 1,512 this August.
Inventory fell 43.1 percent down to 1,746 properties for sale compared to this same time last year when 3,066 homes were for sale.
New listings decreased from 1,550 down to 1,498 which was a 3.4 percent decrease.
Median days on market decreased to 13 days which is an 67.5 percent decrease versus August of 2020.
Available inventory of single family homes ended September with a 1.1 month supply of homes available for sale, or a 57.7 percent decrease.

Single family home prices are still showing significant increases as the median price for September increased just over 20 percent. Thus, if you are a buyer, the good news is this is a modest decrease from the previous month when the median sales price rose 27.1 percent.

While inventory is starting to show signs of improvement, buyer demand also remains high. As long as inventory levels remain well below normal market levels, prices will continue to appreciate. In fact, Goldman Sachs recently predicted home prices to increase 16 percent nationwide in 2022.

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 the right home. New listings are hitting the market every day, we can help you with automatic property alerts.

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.

What is my home worth…

SWFL September Housing Update – Condos and Townhomes

September 2021 versus September 2020 Condo Highlights:

Condo sales decreased 7 percent going from 657 real estate transactions down to 611 sales.
Pending sales decreased 25.8 percent down from 813 last September to 603 this September.
Inventory decreased 76.2 percent down to 558 condos for sale compared to last September when there were 2,346 units for sale.
New listings decreased from 691 down to 596 which was a 13.7 percent decrease.
Median days to contract fell to 10 days which represented an 85.1 percent decrease versus September of 2020.
Available inventory of condos ended August with a less than 1 month supply of properties available for sale which was an 83.3 percent decline.

Condo sales followed similar patterns as the previous month. Once again, the number of sales and inventory saw declines. Inventory levels of condos are especially challenging with less than a months worth of properties available for sale. Yet, similar to single family homes, there are still opportunities as new listings are added to the market every day.

The good news is Florida home builders are investing heavily in new single family construction. A study looked at building permits and year-to-year increases as of June. Out of all U.S. cities, 10 Florida metro areas were in the top 20 for new building permits. The Cape Coaral-Fort Myers area led the way with 5,150 new building permits which represented a 77 percent increase and the Naples-Marco Island area was 6th in the country with 2,211 permits issued which was a 65 percent increase over the same time period last year. Should I use a Realtor if I’m buying New Construction?

Bottom line, it remains a seller’s market for both condos and single family homes. Whether you are considering buying or selling, let us be your guide.

Southwest Florida September Housing Update

Lee County September 2021 Single Family Home Sales

Lee County September 2021 Condo Sales

SWFL Luxury Golf Community Trends

Naples Area Market Report

Naples Luxury Real Estate Trends

Naples Golf Guy Monthly Market Report – NEW!

Begin Your Own Search for a Southwest Florida Vacation Home or Second Home:

So, if you’re ready to begin your search for your dream home or condominium in Southwest Florida, 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.

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.

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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.