October Housing Update

October Housing Update for Lee County

The Southwest Florida October housing update for Lee County showed a significant jump in closed sales activity for both single family homes and condos for the month of October. Closed sales of single family homes increased 45 percent and condos increased 52 percent. Pending sales for both single family homes and condos also showed significant increases over the same time list year.

As a result of the increased closed and pending sales, the number of homes for sale continues to fall and it remains a seller’s market. Similar to last month, the decline inventory continues to drive prices up in our area.

So, you are considering selling, you are in the driver’s seat. Now would be an a good time to connect with a real estate professional to learn about your home’s value in today’s market.

October Housing Update – Single Family Homes

October 2020 versus October 2019 Single Family Home Highlights:

Closed sales increased 45.6 percent going from 1,084 transactions up to 1,578 sales
Pending sales increased 38.8 percent up from 1,275 last October versus 1,770 this October
Inventory fell 44.7 percent down to 2,918 properties for sale compared to this same time last year when there were 5,281 homes for sale
New listings decreased from 1,634 up to 1,593 which is a 2.5 percent decrease
Median days on market decreased to 35 days which is a 51.4 percent decrease versus October 2019
Available inventory of single family homes ended September with a 2.4 months supply of homes available for sale which is a 48.9 percent decrease

Activity over the past four months has been record setting. The Lee County area saw an explosion of single family homes closing and going to contract. Also, there was a significant decrease in the number of days from a property being listed until it went under contract. Buyers should be prepared to make an offer quickly if they see a property they are interested in purchasing. Not only are properties going to contract quickly, there are often multiple offers being submitted at the same time.

Also, unlike last month the number of new listings decreased making our inventory levels pretty tight. For 7 consecutive months, inventory has declined each month. We are now at a point we only have a 2.4 months’ supply of single family homes for sale. Typically, a healthy level of inventory is considered to be 6 to 7 months’ supply of homes.

Bottom line, it a seller’s market. If you are considering selling a home, now is a great time to maximize the value of your home.

Lee County October Housing Update – Condos and Townhomes

October 2020 versus October 2019 Condo Highlights:

Condo sales increased 52.7 percent going from 512 real estate transactions up to 782 sales
Pending sales increased 60.1 percent up from 649 last October versus 1,052 this October
Inventory decreased 26.3 percent down to 2,175 condos for sale compared to this same time last year when there were 2,953 units for sale
New listings decreased from 791 down to 782 which is a 1.1 percent decrease
Median days to contract decreased to 44 days which is a 60.1 percent decrease versus October 2019
Available inventory of condos ended October with a 3.7 months supply of properties available for sale which was a 30.2 percent decrease

Similar to single family homes, condos going to contract increased significantly during September. At the same time, the number of homes for sale decreased 6 percent which bring us down to a .7 months’ supply of condos for sale, Therefore, it means it is still a sellers’ market.

Ultimately, homebuyers are looking for larger homes in a gated community. With the flexibility to work from anywhere, many families are looking for single family homes with plenty of space for a home office, home fitness, home schooling and plenty of room for the whole family. Also, there is a significant increase in buyers looking for a second home or vacation home in a warm, sunny climate to spend the winter.

If you are ready to make a move to Southwest Florida, let’s connect to discuss your real estate needs.

Southwest Florida October Housing Update

Lee County Single Family Home Sales October 2020

Lee County Condo Sales October 2020

October Bonita Springs Estero Statistics

Naples Area Market Report

Luxury Golf Community Real Estate Trends

Begin Searching for Luxury Homes for Sale in Southwest Florida:

So, if you’re ready to begin your search for properties for sale in a gated golf community in Southwest Florida, we encourage you to explore our website to find information. If golf is your game, we specialize in golf community real estate and would be happy to help you navigate the various golf communities to find the best golf homes available.

If you prefer a more direct approach, we will provide a list of golf homes that meet your criteria and/or communities that meet your needs. For more information about the best properties in private golf clubs in southwest Florida please reach out to us directly!

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 purchasing. If you are considering 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.

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Selling Your Home? Work with an Experienced Luxury Realtor

In today’s rapidly changing market, it’s critical to make sure you have a digital game plan and an effective online marketing strategy when selling your home, especially if you are selling a luxury home. One of the ways your agent can help with this is to make sure your listing photos and virtual tours stand out from the crowd, truly giving buyers a detailed and thorough view of your home.

So, if you’re ready to move forward, virtual practices we can help make your sale happen. We know exactly what today’s buyers need, and how to put the necessary digital steps in place. For example, according to the same survey, when asked to select what technology would be most helpful when deciding on a new home, here’s what today’s homebuyers said, in order of preference:

Virtual tour of the home
Accurate and detailed listing information
Detailed neighborhood information
High-quality listing photos
Agent-led video chat
Paperless transactions

So, if you are contemplating selling a home in Bonita Springs, Estero, Naples or Fort Myers, we encourage you to work with a Professional Real Estate Agent or REALTOR® who has the experience and knowledge to provide an accurate market comparison so you can determine the right asking price.

Now more than ever, an agents presence on the internet is critical to selling your home. Let’s connect to talk about how we would leverage new real estate technology such as virtual tours and high end photography, e-mail marketing, social media marketing and much more.

Finally, if you live in a golf community in southwest Florida, you are competing with more than 150 other golf communities. Contact us today to learn how your home or condo stacks up against the competition and how we can position your property to sell quickly and for a fair price.

Should I Use a Realtor or Sell on My Own?