2019 Lee County March Real Estate Review

The 2019 Lee County March Real Estate reports show the market is currently balanced with 6.7 months supply of inventory for single-family homes. Additionally, inventory for single-family homes increased by double digits in March of this year compared to March of last year. However, closed sales for both condos and single family homes were lower than last March.  Yet, there is still a significant amount of activity with a total of 1,872 properties sold during the month in Lee County.

2019 Lee County March Real Estate Activity for Single Family Homes

2019 Lee County March Real Estate Highlights for Single Family Homes:

• Closed sales decreased 4.4 percent down to 1,224 from 1,228 homes sold
• Inventory Increased 12.1 percent up to 6,994 compared to the last year when there were 6,238 homes for sale
• Median days to contract increased to 72 days which represented a 22 percent increase
• Median sales price fell to $250,400 from $260,00 which was a 3.7 percent decrease over last year
• The total months’ supply of inventory increased by 6.7 percent compared to March of last year

Overall, the single-family market in March was balanced.  There is a healthy level of inventory as well as the number of homes sold during the month. Since there are plenty of homes to choose from, homebuyers are taking their time making purchasing decisions. This is evident by the increase in the number of days to contract increasing by 22 percent.  We expect this to change in April as we approach the end of season and buyers will move forward and buy their dream home.  And, if you are selling your home, be sure you’ve spoken with your realtor about the price level and homes recently sold in your area. It’s critical you are priced right if you want to sell before summer begins.

2019 Lee County March Real Estate Activity for Condos

2019 Lee County March Real EstateHighlights for Condos:

• Closed sales decreased 15.7 percent down to 648 from 769 condos sold
• Inventory rose 7.4 percent up to 3,969 compared to the previous year when there were 3,697 condos for sale
• Median days on the market decreased to 96 days which represented a 4 percent decrease
• Average sales price decreased slightly, 4.6 percent to $242,731 from $253,979 last year
• The total months’ supply of inventory increased by 5.7 percent compared to March of 2018

Overall, the condo market is still in a healthy range.  Although condo sales in March were down double digits compared to the same time last year, both the average sales price and median sales price increased for the month.  This is a great sign for sellers who are still capturing their home appreciation. It also means sellers are pricing their homes appropriately. On the flip side, with inventory increasing by 7.4 percent for the month we are starting to approach a buyers market for condos. A healthy market is typically a 6-7 month supply of inventory.  We are headed towards the 8 percent level which would push us into a buyers market. If you are selling a condo, with the increased inventory you should make sure you price your home accurately to maximize your return on investment (ROI).

For information about a specific community or home contact us today for more information.

View More 2019 Lee County March Real Estate Market Reports:

Lee County March Real Estate Single Family Home Statistics

Lee County March Real Estate Single Family Home Statistics

B.E.A.R Bonita Springs and Estero Market Report

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