Southwest Florida Real Estate Market Off to an Active Start for 2018
The real estate market started 2018 with a bang, recording an uptick in both closed sales and pending sales in Lee County.
There were 895 single family homes that sold last month – up 9.3% from one year ago (819). 471 condos sold, an increase of 14% from the 413 sold in 2017. Median sale price for single-family homes stayed about the same, while condos were up $6,000, or 3.2%.
The number of new pending sales was up quite significantly in January. A year ago, 1,173 single family homes were pending, while last month saw 1,371 (+16.9%). Pending condo sales were also up from 689 last year to 743 in January (+7.8%). Median time to contract dropped by one day – from 61 to 60 days.
According to the statistics released by Florida Realtors®, some parts of the county were more significantly more popular with homebuyers last month than in 2017, while others dropped in popularity. Fort Myers Beach saw a 71.4% increase in closed sales of single-family homes year-over-year. Pine Island sales fell 26.7%, while North Fort Myers dropped 44.4%.
The biggest sellers continue to be homes in the $200,000-$249,999 and $250,000- $299,999 ranges. Last month, the “Less than $50,000” price point was extremely active – 5 homes sold but that represents an increase of 400% from January 2017. The $1 million-plus price point was also extremely active with 50 closed sales (single family) and an increase of 47.1%. Condos in the same price point were up 33.3%.
Throughout the whole state of Florida, single-family home sales were actually down 1.3%, but the median sale price was up 9.1%. Florida Realtors® President Christine Hansen says January’s numbers reflect a tight supply of housing inventory statewide.
“When combined with rising median sales prices – it puts pressure on potential
￼homebuyers. Working with local Realtors can help buyers and sellers understand the
￼factors influencing their local markets.”
Source: Royal Palm Coast Realtor Association Cape Coral • Fort Myers • South Service Center | P: (239) 936-3537 | F: (239) 936-2836 | rpcra.org