March Housing Market Update

Lee County March Housing Market Update

The March housing market update for Lee County showed there was more than $1.3 Billion in properties closed during the month, down from $1.8 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 decreased from 51 percent down to 48 percent compared to the previous month. Over the last 6 months, cash sales has remained between 45% and 52% of total transactions. If 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, once again there was positive news for new listings in March. The number of new properties hitting the market increased slightly for both condos and single family homes year-over-year. In all, there were 2,919 new properties were listed during the month.

Lee County March Housing Update – Single Family Homes

March 2022 versus March 2021 Single Family Home Highlights:

Closed sales decreased 9.9 percent going from 1,841 transactions down to 1,659 sales.
Pending sales decreased 15.2 percent down from 1, last March versus 1,675 this March.
Inventory increased 9.3 percent up to 1,651 properties for sale compared to this same time last year when 1,510 homes were for sale.
New listings increased from 1,547 up to 1,617 which was a 4.5 percent increase.
Median days on market fell to 11 days which was a 50 percent decrease versus March of 2021.
Available inventory of single family homes ended March with a 1.1 months supply of homes available for sale, the same as last March

Similar to the last couple of months, single family home prices showed a significant increases in the median sales price, up 24.3 percent for March of this year compared to last year at same time. Unlike February when inventory was down more than 20 percent, in March inventory showed an 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. If you are thinking of selling, it’s a once in a lifetime opportunity to maximize your profits. Contact us today to learn about your home’s value in our current market. It may be more than you realize. 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 March Housing Update – Condos and Townhomes

March 2022 versus March 2021 Condo Highlights:

Condo sales decreased 37.9 percent going from 1,225 real estate transactions down to 761 sales.
Pending sales decreased 31.7 percent down from 1,303 last March to 890 this March.
Inventory decreased 34.6 percent down to 563 condos for sale compared to last March when there were 861 units for sale.
New listings increased from 924 down to 936 which was a 1.3 percent increase.
Median days to contract fell to 8 days which represented an 77.1 percent decrease versus March of 2021.
Available inventory of condos ended March with less than 1 month supply of properties available for sale which was a 38.5 percent decline.

Between closed sales and pending sales, inventory remains very low. Even though new listings increased slightly, they are snapped up quickly if priced correctly. There’s still less than a months worth of properties available for sale.

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. 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 March Housing Market Update

Lee County Real Estate Statistics Single Family Homes March 2022

Lee County Real Estate Statistics Condos March 2022

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!

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

Considering Selling Your Southwest Florida Home?

It is a seller’s market so why should you work with a realtor? Do you have the time? There are over 180 actions required to successfully complete a real estate transaction. From scheduling showings, contract negotiations, organizing inspectors, attorneys, title companies and a mountain of paperwork.

With almost 20 years of experience helping sellers with their golf community real estate needs, we would like to share our strategy for how we’re helping maximize the number of offers homeowners are receiving and ultimately higher sales prices.

As an experienced real estate team, we have made a career out of helping people sell homes in premier golf communities. As you may well know, opportunities such as today’s market for sellers only comes every so often.

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Results You Can Count On

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.