March 02, 2024

Lee County January Housing Market

Lee County January Housing Market Report

2024 Lee County January Housing Market Report The Lee County January Housing Market reports showed 1,122 properties sold for just over $645 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 84 properties sold at or above $1 Million in January down from 98 sales in December. The highest-priced sale was a single-family home on Bonita Beach overlooking the Gulf of Mexico for $12,900,000. Forty percent of the top 10 highest-priced properties sold were in golf communities including Bonita Bay, Miromar Lakes, and Quail West.

Overall, Florida remains a top destination for homebuyers and businesses. The Sunshine State was recently ranked the 2nd Best Small Business State in the country according to a SimplifyLLC Study. Additionally, the state remains among the Top 5 States with the most inbound relocations according to a report by the Allied Van Line one of the nation’s largest moving companies.

Further, our state was ranked the Best State for Retirement according to WalletHub due to low taxes and mile of shoreline.

The Fort Myers area in particular was just ranked one of the Top 10 Boating Destinations in the United States. The Fort Myers-Naples area came in 3rd behind the Florida Keys and Panhandle according to Boatsetter.

Are you ready to relocate to Southwest Florida?

Lee County January Housing Market Report – Single-Family Homes

2024 Lee County January Housing Market Stats - Single Family Homes

January 2024 versus January 2023 Single Family Home Highlights:

Closed sales decreased 8.6 percent going from 868 transactions down to 793 sales.
Pending sales increased 1.7% percent up from 1,323 last January to 1,346 this January.
Inventory increased 82.2 percent up to 6,930 properties for sale compared to this same time last year when 3,803 homes were for sale.
New listings increased from 1,717 up to 2,205 which was a 28.4 percent increase.
Median days on market increased to 55 days which was a 61.8 percent increase versus January of 2023.
Available inventory of single-family homes ended January with a 6.1 months’ supply of homes available for sale which was up from a 3.2 months’ supply during January of 2023.

Inventory continued its upward trend. Not only was single-family home inventory up significantly over last year, it also rose 9.3 percent month-over-month. We ended the month with a 6.1 month supply of homes for sale, up from 5.6 during the previous month. We have officially passed the threshold to a balanced market, which is a 6-7-month supply of properties for sale.

While the median sales price was lower than the same time last year, it did increase from December when it was $399,000 up to $405,000 in January. From a buyer’s perspective, there are even more options to choose from than the previous month, and prices remain stable. We continue to see new listings every day.

The number of days from listing a home to contract was 55 days up from 42 during the previous month and up from 34 days a year ago. If you are considering selling, it’s important to price your home competitively to capitalize on the market. If you are not sure what your home is worth, call, email, or text us for a FREE market analysis – 239.370.0892.

Or, if you are considering buying 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 January Housing Market Report – Condos and Townhomes

2024 Lee County January Housing Market Stats - Condos

January 2024 versus January 2023 Condo Highlights:

Condo sales decreased 2.7 percent going from 338 real estate transactions down to 329 sales.
Pending sales decreased 11.3 percent down from 870 last January down to 772 this January.
Inventory increased 138.6 percent up to 3,362 condos for sale compared to last January when there were only 1,409 units for sale.
New listings increased from 826 up to 1,112 which was a 34.6 percent jump.
Median days to contract was 49 days which represented an 104.2 percent increase versus January of 2023.
Available inventory of condos ended January with a 7.4 months supply of properties available for sale which was a 138.6 percent increase over last year.

Inventory of Lee County Condos finished the month with a 7.4-month supply of condos for sale, up from a 6.3-month supply during the prior month. The current level of supply of Lee County condos has moved into a Buyer’s market.

There was a notable increase in condo inventory over the prior month. The number of condos for sale rose 17.1 percent compared to December. If you 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.

Similar to last month, days on market rose slightly from 45 in December up to 49 days in January. Buyers continued to take more more time to decide on their purchase.

While the median condo price in January ended the month at $340,000 which was up from the prior year when it was $320,000, it was down compared to the prior month when it was $355,000.

Finally, the percentage of cash sales for condos remained increased even higher than the previous month. Almost 69 percent of condo sales were cash transactions, compared to sixty-five percent during December. If you plan on leveraging a loan for your condo purchase, 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 January Housing Market Report

2024 Lee County January Housing Market Stats – Single Family Homes

2024 Lee County January Housing Market Stats – Condos

Naples Golf Guy Monthly Market Report

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 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. We may be able to help you save money and negotiate for extras that the builder may not let you know about.

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

Should You Sell Your Home?

Naples Golf Guy Team Matthew Klinowski Michele Klinowski Mike Pepple Mackenzie Davis

While it is still a seller’s market, it won’t last forever. Inventory is starting to increase offering buyers more options. Additionally, we are starting to see prices drop on homes recently listed.

Our team is committed to extraordinary customer service, emphasizing detail and frequent communication.

We collaborate with our sellers to design and implement a customized marketing campaign to present your property to the world. We are dedicated to making the sales process easier for you and your family.

We would very much like to meet you, learn about your home, and help provide a stress-free selling environment for you and your family.

Call, emai l, or text us today for a FREE market analysis – 239.370.0892.

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Results You Can Count On

The Naples Golf Guy Team, as seen on Forbes, 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.

About Naples Golf Guy

Contact Matt: Matt@NaplesGolfGuy.com

or at 239-370-0892

February 23rd, 2024 Posted by Matt