April Housing Market Update

Lee County April Housing Market Update

The April housing market update for Lee County showed there was more than $1.35 Billion in properties closed during the month, down from $1.38 Billion during the prior year. Both single family home and condo sales year-over-year decreased double digits in Bonita Springs, Estero and Fort Myers.

The percentage of cash transactions during the month increased to 49 percent of the total transactions which was up slightly from 48 percent compared to the previous month. Over the last 6 months, cash sales have been between 45% and 52% of total transactions. If you are a buyer and you find yourself in a multiple bid situation, in most cases the seller will consider a cash offer a stronger offer than one with financing.

Similar to the previous month, even though inventory remains historically low, inventory continued to build. The number of new properties hitting the market increased 16.3 percent for condos and single family homes increased 3.1 percent compared to the same time last year. In all, there were 2,779 new properties were listed during the month.

Lee County April Housing Update – Single Family Homes

April 2022 versus April 2021 Single Family Home Highlights:

Closed sales decreased 12.2 percent going from 1,9111 transactions down to 1,621 sales.
Pending sales decreased 14.4 percent down from 1,929 last April versus 1,651 this April.
Inventory increased 23 percent up to 1,884 properties for sale compared to this same time last year when 1,532 homes were for sale.
New listings increased from 1,781 up to 1,836 which was a 3.1 percent increase.
Median days on market fell to 10 days which was a 41.2 percent decrease versus April of 2021.
Available inventory of single family homes ended March with a 1.3 months supply of homes available for sale which was up from 1.1 percent during April 2021.

Similar to the last couple of months, single family home prices showed a significant increases in the median sales price, up 32.4 percent for April of this year compared to last year at same time. Similar to March when inventory increased more than 20 percent, April showed another 23 percent increase!

Keep in mind, even though industry experts continue to say growth will slow, we have yet to see a slowdown reflected in the actual local market data. As long as inventory remains extremely low, prices will continue to rise. However, if inventory continues to build, we should see the rate of growth start to slow.

If you are considering selling, you are still in the driver’s seat. However, with the increased inventory combined with the price reductions we are seeing to list price, we recommend you sell sooner rather than later. Contact us today to learn about your home’s value in our current market. We’ll show you how we help our clients sell their home quickly, stress-free and for maximum value. Call, email or text us today. What is my home worth…

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.

Lee County April Housing Update – Condos and Townhomes

April 2022 versus April 2021 Condo Highlights:

Condo sales decreased 30.8 percent going from 1,181 real estate transactions down to 817 sales.
Pending sales decreased 23.5 percent down from 1,065 last April to 815 this April.
Inventory decreased 16.8 percent down to 690 condos for sale compared to last April when there were 829 units for sale.
New listings increased from 811 up to 943 which was a 16.3 percent increase.
Median days to contract fell to 7 days which represented an 69.6 percent decrease versus April of 2021.
Available inventory of condos ended April with 1 month supply of properties available for sale which was a 9.1 percent decline.

Between closed sales and pending sales, inventory remains very low. Even though there was a notable increase in new listings, they went to contract quickly if priced correctly. If you are a buyer and you’ve been sitting on the sidelines, it may be time to start taking a closer look at homes for sale. Depending on the neighborhood, you may be surprised at the number of properties available for sale.

Bottom line, it is a seller’s market for both condos and single family homes. So 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. Wondering what the benefits are of using an agent sell your home? What is my home worth…

Whether you are buying or selling we have real estate specialists who cover the Gulf Coast from Naples to Sarasota, so if you’re considering moving to the area, contact us for more information.

Southwest Florida April Housing Market Update

April 2022 Lee County Single Family Home Sales

April 2022 Lee County Condo Sales

Monthly Naples Golf Guy Report – NEW!

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Should I use a Realtor if I’m buying New Construction?

Considering Selling Your Southwest Florida Home?

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The Naples Golf Guy Team is committed to extraordinary customer service with an emphasis on detail. Professionalism, integrity and discretion are not goals, they are standards. We collaborate with our sellers to design and implement a customized marketing campaign to present your property to the world. If you are a buyer, we are committed to helping you find the community which will allow you to live the ultimate Florida lifestyle in Paradise.