Lee County April Housing Market Report

The Lee County April Housing Market reports showed 1,421 properties sold for just over $925 Million during the month in Bonita Springs, Cape Coral, Captiva, Estero, Fort Myers, Fort Myers Beach, Miromar Lakes, Sanibel, and surrounding areas.

The luxury market saw 222 properties sold at or above $1 Million in April, up from 158 in March. The highest-priced sale was a single family home in Miromar Lakes for $7,750,000.

Notably, eighty percent of the top 10 highest-priced properties sold were in golf communities including Miromar Lakes, Quail West, Bonita Bay, and The Colony at Pelican Landing.

Overall, inventory increased from 3,719 at the end of last April, up to 7,294 at the end of this April. So, with almost twice as much inventory than last year, there are plenty of options for buyers to chose from.

Are you ready to find your own slice of paradise?

Lee County April Housing Market Report – Single-Family Homes

April 2024 versus April 2023 Single Family Home Highlights:

• Closed sales increased 8.6 percent going from 747 transactions up to 811 sales.
• Pending sales increased 1.4 percent up from 768 last April to 779 this April.
• Inventory increased 81.2 percent up to 3,305 properties for sale compared to this same time last year when 1,824 homes were for sale.
• New listings increased from 845 up to 991 which was a 17.3 percent decrease.
• Median days on market increased to 40 days which was an 90.5 percent increase versus April of 2023.
• Available inventory of single-family homes ended April with a 5.1 months’ supply of homes available for sale which was up from a 2.9 months’ supply during April of 2023.

Inventory of single-family homes was up significantly over last year. However, unlike previous months there was a significant decline in supply of homes for sale from March to April. As a result, the month ended with a 5.1 month supply of homes for sale, which was down from 6.5 months supply. Part of the decline in supply is due to homeowners taking their properties off the market for the summer months which is our slow season.

Unlike, the last couple of months, the median sales price increased over the same time last year. In the same way, the price increased from $418,000 in March up to $540,000 in April. Thus, from a buyer’s perspective, there continued to be more options to choose from than the prior month. Additionally, prices remain stable.

Interestingly, the number of days from listing a home to contract decreased from 60 days during the previous month down to 40 days in April. Yet, it was still a notable increase over the prior year when it was just 21 days. So, if you are considering selling, it’s critical to price your home competitively from day one. Not sure what your home is worth? Call, email, or text us for a FREE market analysis – 239.370.0892.

Or, if you are planning to buy a property, now is a good time to start watching the communities you are most interested in using our automatic property alerts. Not sure which which communities fit your lifestyle? Contact us and we’ll help you target the neighborhoods which offer the amenities and lifestyle you would like to enjoy.

Lee County April Housing Market Report – Condos and Townhomes

 

April 2024 versus April 2023 Condo Highlights:

• Condo sales increased 0.5 percent going from 607 real estate transactions up to 610 sales.
• Pending sales decreased 0.7 percent down from 577 last April down to 573 this April.
• Inventory increased 110.5 percent up to 3,989 condos for sale compared to last April when there were only 1,895 units for sale.
• New listings increased from 780 up to 852 which was a 9.2 percent jump.
• Median days to contract was 52 days which represented a 108 percent increase versus April of 2023.
• Available inventory of condos ended April with an 9 months supply of properties available for sale which was a 130.8 percent increase over last year.

Ultimately, Lee County finished the month with a 9-month supply of condos for sale, up from a 8.5-month supply during the prior month. So, it is a buyers market if you plan to purchase a condo in Lee County.

 

Unlike the single family home market, there was a modest increase in condo inventory over the prior month. The number of condos for sale rose 5.7 percent compared to March. If you’re a buyer, the increased condo supply is good news as there are more options available. If you are a seller, you should assess the other properties available to ensure you are in-line with the current market value.

 

Contrary to the previous month, days on market increased from 51 days in March up to 52 days in April. Yet, it was still well above last year when it only took 25 days for a property to go to contract.

 

Also, the median condo price ended the month at $339,700 which was down from the prior year when it was $347,500 and it was also down $300 from the prior month when it was  also $340,000.

 

Finally, 70 percent of condo transactions were cash sales which was up from 65 percent during the previous month. Therefore, if you plan on leveraging a loan for your condo purchase, be aware you are still competing with many cash buyers.

 

Regardless of when you plan to purchase now or sometime in the future, if you are a buyer, it may be time to start taking a closer look at homes for sale in neighborhoods that might fit your criteria. To stay up to date sign up for automatic property alerts.

Not sure if you should sell? We will provide you with the latest market data for your neighborhood and help you decide if it makes sense to list your property. If you decide to move forward, together we will determine the optimum selling price.

Southwest Florida February Housing Market Report

2024 Lee County April Housing Market Stats – Single Family Homes

2024 Lee County April Housing Market Stats – Condos

Naples Golf Guy Report – Summer Edition

Recently Listed Golf Properties

Ready for a Florida Vacation Home or Second Home?

If you are 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 200 different golf communities in our area. 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. We may be able to help you save money and negotiate for extras.

Lastly, we will manage all contract negotiations via paperless transactions for your property from offer to close!

Results You Can Count On

The Naples Golf Guy Team, as seen on Forbes, will provide 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. Or, for buyers, we will help you find the community that will offer the ultimate Florida lifestyle in Paradise.

About Naples Golf Guy

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Contact Matt:  Matt@NaplesGolfGuy.com

or at 239-370-0892

June 1st, 2024 Posted by Matt