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Lee County October Housing Market Update
The October Lee County housing market reports showed there was more than $827 Million in properties closed during the month, down from $862 Million last year. Similar to the prior month, the limited inventory impacted the number of closed sales for October. Both single family homes and condos saw double-digit declines in Bonita Springs, Estero and Fort Myers.
Also notable was the percentage of cash transactions during the month. Approximately 43 percent of all transactions were cash which was similar to last month, and remained lower than July which was 65 percent. So what are the implications? For those who are using a mortgage, you have more opportunities to enter into a contract on a property without having to go up against multiple cash offers.
Additionally, we continued to see signs new properties hitting the market. There were 2,298 new listings during the month up from 2,094 during the prior month. Similar to the Naples area, the demand remains high and new listings were snapped up quickly. The median days to contract for single family homes was 14 days and condos were only 10 days.
Thus, demand continues to remain strong for Southwest Florida and the nation as a whole. While I don’t have a crystal ball to predict the future, Chief Economist of the National Association of REALTORS® Lawrence Yun said “This winter, there will be more sales compared to pre-pandemic winters going back all the way to 2006.”
If you are thinking of selling, you are in the driver’s seat. Contact us today to learn about your home’s value in our current market. It may be more than you realize.
Lee County October Housing Update – Single Family Homes
October 2021 versus October 2020 Single Family Home Highlights:
- Closed sales decreased 13.5 percent going from 1,578 transactions down to 1,365 sales.
- Pending sales decreased 7.8 percent down from 1,770 last October versus 1,632 this October.
- Inventory fell 39.3 percent down to 1,770 properties for sale compared to this same time last year when 2,918 homes were for sale.
- New listings increased from 1,593 up to 1,670 which was a 4.8 percent increase.
- Median days on market decreased to 14 days which was a 60 percent decrease versus October of 2020.
- Available inventory of single family homes ended October with a 1.2 month’s supply of homes available for sale, or a 50 percent decrease.
Similar to last month, single family home prices showed a significant increases in the median price, up 21 percent for October of this year compared to last year at the same time. With limited inventory, prices will continue to rise. While leading industry experts note, the appreciation will start to slow, based on the latest statistics that has yet to show in the numbers.
Seller’s continue to have the advantage in the sales process. 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 October Housing Update – Condos and Townhomes
October 2021 versus October 2020 Condo Highlights:
- Condo sales decreased 28.6 percent going from 782 real estate transactions down to 558 sales.
- Pending sales decreased 23.4 percent down from 903 last October to 692 this October.
- Inventory decreased 77.4 percent down to 491 condos for sale compared to last October when there were 2,175 units for sale.
- New listings decreased from 782 down to 628 which was a 19.7 percent decrease.
- Median days to contract fell to 10 days which represented an 81.1 percent decrease versus October of 2020.
- Available inventory of condos ended October with a less than 1 month supply of properties available for sale which was an 83.8 percent decline.
Condo sales followed similar patterns as the previous month. Once again, the number of sales and inventory saw declines. Inventory levels of condos are especially challenging with less than a months worth of properties available for sale. Yet, similar to single family homes, there are still opportunities as new listings are added to the market every day.
Bottom line, it remains 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.
Southwest Florida September Housing Update
Naples Golf Guy Monthly Newsletter – NEW!
2021 Lee County October Real Estate Recap – Single Family Homes
2021 Lee County October Real Estate Recap – Condos
SWFL Luxury Golf Community Trends
Begin Your Own Search for a Southwest Florida Vacation Home or Second Home:
So, if you’re 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 150 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. In fact, we may be able to help you save money and negotiate for extras which the builder may not let you know about.
Lastly, we will handle all contract negotiations via paperless transactions for your property from offer to close!
Find a Real Estate Expert Who Specializes in Golf Community Real Estate
Look for an agent who specializes in the type of community or properties you are interested in buying or selling a home. If you are considering buying in a Southwest Florida Golf Community, there are more than 150 golf course communities to chose from. How do you know which one is right for you and your family? Find a specialist who has the knowledge and experience about golf community real estate to help you navigate the various clubs, courses, membership options, amenities and location that will best match your lifestyles.
“Luxury Lifestyle” has different meanings for different people. What does it mean to you? Golf course communities in our area have enhanced their amenities to provide members with the ultimate luxury experience. From wellness centers to pickleball and everything in between. We will help you identify the best communities to visit.
NaplesGolfGuy offers private client advisory services with an emphasis on detail. Professionalism, integrity and discretion are not goals, they are standards. We are dedicated to exploring, experiencing and navigating the very best in luxury living for our clients.
Contact Matt: Matt@NaplesGolfGuy.com
November 27th, 2021, Posted by NaplesGolfGuy
Lee County October Housing Market
Lee County October Housing Market Update
The October Lee County housing market reports showed there was more than $827 Million in properties closed during the month, down from $862 Million last year. Similar to the prior month, the limited inventory impacted the number of closed sales for October. Both single family homes and condos saw double-digit declines in Bonita Springs, Estero and Fort Myers.
Also notable was the percentage of cash transactions during the month. Approximately 43 percent of all transactions were cash which was similar to last month, and remained lower than July which was 65 percent. So what are the implications? For those who are using a mortgage, you have more opportunities to enter into a contract on a property without having to go up against multiple cash offers.
Additionally, we continued to see signs new properties hitting the market. There were 2,298 new listings during the month up from 2,094 during the prior month. Similar to the Naples area, the demand remains high and new listings were snapped up quickly. The median days to contract for single family homes was 14 days and condos were only 10 days.
Thus, demand continues to remain strong for Southwest Florida and the nation as a whole. While I don’t have a crystal ball to predict the future, Chief Economist of the National Association of REALTORS® Lawrence Yun said “This winter, there will be more sales compared to pre-pandemic winters going back all the way to 2006.”
If you are thinking of selling, you are in the driver’s seat. Contact us today to learn about your home’s value in our current market. It may be more than you realize.
Lee County October Housing Update – Single Family Homes
October 2021 versus October 2020 Single Family Home Highlights:
- Closed sales decreased 13.5 percent going from 1,578 transactions down to 1,365 sales.
- Pending sales decreased 7.8 percent down from 1,770 last October versus 1,632 this October.
- Inventory fell 39.3 percent down to 1,770 properties for sale compared to this same time last year when 2,918 homes were for sale.
- New listings increased from 1,593 up to 1,670 which was a 4.8 percent increase.
- Median days on market decreased to 14 days which was a 60 percent decrease versus October of 2020.
- Available inventory of single family homes ended October with a 1.2 month’s supply of homes available for sale, or a 50 percent decrease.
Similar to last month, single family home prices showed a significant increases in the median price, up 21 percent for October of this year compared to last year at the same time. With limited inventory, prices will continue to rise. While leading industry experts note, the appreciation will start to slow, based on the latest statistics that has yet to show in the numbers.
Seller’s continue to have the advantage in the sales process. 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 October Housing Update – Condos and Townhomes
October 2021 versus October 2020 Condo Highlights:
- Condo sales decreased 28.6 percent going from 782 real estate transactions down to 558 sales.
- Pending sales decreased 23.4 percent down from 903 last October to 692 this October.
- Inventory decreased 77.4 percent down to 491 condos for sale compared to last October when there were 2,175 units for sale.
- New listings decreased from 782 down to 628 which was a 19.7 percent decrease.
- Median days to contract fell to 10 days which represented an 81.1 percent decrease versus October of 2020.
- Available inventory of condos ended October with a less than 1 month supply of properties available for sale which was an 83.8 percent decline.
Condo sales followed similar patterns as the previous month. Once again, the number of sales and inventory saw declines. Inventory levels of condos are especially challenging with less than a months worth of properties available for sale. Yet, similar to single family homes, there are still opportunities as new listings are added to the market every day.
Bottom line, it remains 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.
Southwest Florida September Housing Update
Naples Golf Guy Monthly Newsletter – NEW!
2021 Lee County October Real Estate Recap – Single Family Homes
2021 Lee County October Real Estate Recap – Condos
SWFL Luxury Golf Community Trends
Begin Your Own Search for a Southwest Florida Vacation Home or Second Home:
So, if you’re 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 150 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. In fact, we may be able to help you save money and negotiate for extras which the builder may not let you know about.
Lastly, we will handle all contract negotiations via paperless transactions for your property from offer to close!
Find a Real Estate Expert Who Specializes in Golf Community Real Estate
Look for an agent who specializes in the type of community or properties you are interested in buying or selling a home. If you are considering buying in a Southwest Florida Golf Community, there are more than 150 golf course communities to chose from. How do you know which one is right for you and your family? Find a specialist who has the knowledge and experience about golf community real estate to help you navigate the various clubs, courses, membership options, amenities and location that will best match your lifestyles.
“Luxury Lifestyle” has different meanings for different people. What does it mean to you? Golf course communities in our area have enhanced their amenities to provide members with the ultimate luxury experience. From wellness centers to pickleball and everything in between. We will help you identify the best communities to visit.
NaplesGolfGuy offers private client advisory services with an emphasis on detail. Professionalism, integrity and discretion are not goals, they are standards. We are dedicated to exploring, experiencing and navigating the very best in luxury living for our clients.
Contact Matt: Matt@NaplesGolfGuy.com
November 27th, 2021, Posted by NaplesGolfGuy
About Naples Golf Guy
For expert guidance in Southwest Florida real estate, contact Naples Golf Guy, Matt Klinowski P.A. Whether you’re looking to buy a single-family home or condo in Naples, Bonita Springs, Estero, Ft. Myers or Sarasota I can help. With over 20 years of experience, I offer valuable market information and insights into individual communities to help you find the perfect home and lifestyle in the best golf community to fit your needs. Reach out to me today to get started!
Contact Matt: Matt@NaplesGolfGuy.com or at 239-370-0892
