Lee County February Real Estate Review

The latest Lee County February Real Estate reports show it’s a buyers market right now.  Inventory for both single family homes and condos increased by double digits in February of this year compared to February of last year. It’s taking longer for buyers to make their purchase decisions as they wade through all the inventory.  The good news is the average and median sales prices remained similar to last year.

2019 Lee County February Real Estate Activity for Single Family Homes

Lee County February Real Estate Highlights for Single Family Homes:

• Closed sales decreased 4.1 percent down to 875 from 912 homes sold
• Inventory rose 14.5 percent up to 7,195 compared to the previous year when there were 6,286 homes for sale
• Median days to contract increased to 75 days which represented an 11.9 percent increase
• Median sales price rose slightly to $253,250 from $250,223 which was a 1.2 percent increase over last year
• The total months’ supply of inventory increased by 10 percent compared to February of last year

Similar to Collier County, overall single family inventory rose by double digits during the month of February which is good news for buyers who now have more properties to choose from.  Additionally, the market continues to remain in the healthy range for Lee County Single Family homes with a 6.6 months supply of homes available. A healthy market is considered a 6-7 month supply of homes available for sale. At the same time, the median home sale price rose slightly in February. So whether you are considering buying or selling your home, now is a good time.

2019 Lee County February Real Estate Activity for Condos

Lee County February Real Estate Highlights for Condos:

• Closed sales decreased by 1 percent down to 506 from 511 condos sold
• Inventory rose 10.4 percent up to 4,165 compared to the previous year when there were 3,772 condos for sale
• Median days on market increased to 113 days which represented a 21.5 percent increase
• Average sales price decreased slightly, 1.3 percent to $243,399 from $246,729 last year
• The total months’ supply of inventory increased by 7 percent compared to February of 2018

Similar to January, condo sales in February were slower than single-family homes. Both inventory and the total supply of condos for sale remain in a buyers market. Most notably, the number of days it took for properties to go to contract and close rose by double digits. If you’re a seller and you have your home price appropriately it could take up to almost 3 months to sell your condo. Since our main selling season is getting closer to the end, if you haven’t done so already, you need to discuss your pricing with your realtor to ensure you are priced right. If you are a buyer, with the increased inventory you should expect to see more options and at a better price.

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

View More February Real Estate Market Reports:

2019 February Lee County Single Family Home Statistics

2019 February Lee County Condo Statistics

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

NABOR February 2019 Market Statistics

NABOR February Market Report

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