(Fort Myers, FL – February 23, 2016) – Home sales in Lee County

 

 

2016 Off to a Slower Start, but Prices Still Higher (Fort Myers, FL – February 23, 2016) – Home sales in Lee County in January lagged a little bit compared to the beginning of 2015, according to data just released by Florida Realtors®. The number of closed and pending sales dropped, but prices were still up – with some massive jumps in various categories.

 

To start off 2016, there were 789 closed sales on Single Family Homes, which dropped from 835 in 2015 for a change of 5.5%. Condo sales dropped 7% year-over-year. The number of new pending sales also fell, with the county only recording 1,185 for Single Family Homes (down from 1,440 in 2015) and 599 pending Condo sales (down from 717).

 

However, final selling prices have continued to climb. The Median Sale Price for a single family home jumped to $233,000 last month, compared to $190,000 the same time last year. That’s a change of +22.6%. For condos, Median Sale Price jumped just over 12% from $165,000 in January 2015 to $185,000 in January 2016.

 

In some of our island communities, 2016 is already proving to be a great year. The Median Sale Price in Sanibel and Captiva jumped nearly 60% year-over-year from $565,000 to $902,500. Pine Island saw the biggest jump of all – almost 92% - from $155,000 to $297,000. The biggest jump of all comes from the $1,000,000 or more range. In January 2015, there were 16 Single Family Homes that sold in that price range. In January 2016, there were 51 Closed Sales – making that a 218.8% increase.

 

 

 

 

2015: A Big Year for REALTORS® (Fort Myers, FL – February 11, 2016)

 

 

2015: A Big Year for REALTORS® (Fort Myers, FL – February 11, 2016) – 2015 turned out to be a very successful year for real estate in Lee County. According to year-end data just released by Florida Realtors®, the housing market in the state of Florida as a whole was better than 2014 with more closed sales, more new listings and higher median prices.

 

In Lee County, the number of closed sales for Single Family Homes was up 9.7% to 13,635, compared to 12,427 in 2014. For Condos and Townhomes, sales were up 2.3%.

 

The Median Sale Price shot up nearly 13% to $213,150 for Single Family Homes; Condos and Townhomes, the price rose 7.3% to 179,000. The statewide Median Price for Single Family Homes was $196,000 up 10.1% from 2014. The statewide Median Price for Condos and Townhomes was $150,000 up 7.1% from 2014.

 

Homes did not stay on the market as long in 2015 – with a Median Days on Market of just 35. In 2014, that number was 43. The Months Supply of Inventory dropped 13.5% from 2014 to 2015, to a 4.5 months supply. The previous year, the supply was 5.2 months.

 

One of the biggest indicators of a continued recovery for Lee County is in the number of sales in the lowest end of the price range. For Single Family Homes selling for less than $50,000, there was a drop of 47.6% in sales. For homes between $50,000-$99,999, closed sales dropped 43.7%. That shows the inventory in those price ranges are dwindling significantly.

 

Chief Economist for Florida Realtors®, Dr. Brad O’Connor, says the outlook for 2016 is extremely positive. "We expect home prices… to continue to rise at an elevated pace in 2016, as much of the state is in the midst of an inventory shortage that is likely to persist throughout the year."

 

 

 

Sales Drop in December, but Prices on the Up. (Fort Myers, FL – January 22, 2015)

 

Sales Drop in December, but Prices on the Up. (Fort Myers, FL – January 22, 2015) December saw another drop in the number of homes selling in Lee County, however prices continue to rise.

 

According to the latest data released by Florida Realtors®, the number of closed sales for Single Family Homes dropped 2.8% in December from the same time in 2014. 1,132 homes sold in December 2015 as compared to 1,165 in 2014. Condo sales also dropped from 588 (2014) to 553 (2015), a difference of 6%.

 

However, the selling prices of the homes that are closing have dramatically increased. This past December, the Median Sale price was $231,000, compared to $190,000 in 2014. That is a change of +21.6%. Condos prices were also up a median 2.6% from $185,000 in 2014 to $189,900 in 2015.

 

Houses in the $200,000-$299,999 range had the most significant increase in sales year-over-year. 170 Single Family Homes sold for between $200,000-$249,999, a jump of 41.7% from 2014. 129 homes between $250,000-$299,999 sold in December 2015, a 24% increase from 2014.

 

As for condos, 20 sold in the $600,000-$999,999 price range last month, which is a change of +81.8% year-over-year.

 

Houses also continue to sit on the market for less time. Median days on the market for a  Single Family Home in December was 30 days, while in 2014 it was 34 days (a drop of 11.8%). 

 

 

 

 

Sales Drop Ahead of Holidays, but Prices Still On the Rise (Fort Myers, FL – December 22, 2015)

 

Sales Drop Ahead of Holidays, but Prices Still On the Rise (Fort Myers, FL – December 22, 2015) Home sales slowed down in Lee County during the month of November. However, selling prices are still higher than the same time in 2014.

 

According to the latest data released by Florida Realtors®, closed sales on Single Family Homes was down 6.7% year-over-year. There were 840 closed sales in November 2015, as compared to 900 in 2014. Condo sales also dropped 7.5% to 382 close sales. There were 413 Closed Sales in November 2014. Closed Sales of Single Family Homes dropped in every city except North Fort Myers.

 

Despite the drop in number of closings, sale prices were up 16.1% this November, with a median sale price of $227,000 for Single Family Homes. The same time last year saw a median sale price of $195,500. Condo sales recorded a 6.3% median sale increase at $178,500. The median sale price in November 2014 was $167,900.

 

The number of Active Listings is down once again. Single Family listings dropped 5.1% yearover-year in November and Condos dropped 8.1%. Months Supply of Inventory and Median Days on the Market also dropped year-over-year.

 

Months Supply is down 15.4% to 4.4 months, compared to 5.2 months in November 2014. Active listings stayed on the market a median 30 days in November, compared to 34 in 2014, a drop of 11.8%

 

 

 

 

Lee County Homes Still Selling, Slowing Down Ahead of Holidays (Fort Myers, FL – November 23, 2015)

 

Lee County Homes Still Selling, Slowing Down Ahead of Holidays (Fort Myers, FL – November 23, 2015) Lee County continued to be a seller’s market in October, but is slowing down slightly ahead of the upcoming holiday season.

 

According to the latest data released by Florida Realtors®, closed sales on Single Family Homes was up 1.6% year-over-year in October. There were 1,055 last month, compared to 1,038 in 2014. The Median Sale price jumped 14% from 2014 to 2015 from $184,175 to $210,000.

 

For Condos and Townhomes, Closed Sales were up 10% from 471 in October 2014 to 518 in 2015. The Median Sale price was up 6.4% to $173,450. Both Active Listings and Months Supply of Inventory are down. Single Family listings dropped 10.3% year-over-year in October. Months Supply is down 21.6% 4 months, compared to 5.1 months in October 2014.

 

Both Single Family Homes and Condos/Townhouses continue to sell quicker than this time last year. Homes are spending a median 28 days on the market, which has dropped from 36 days in 2014. Condos and Townhouses spent a median 43 days on the market in October 2015 compared to 53 in 2014, a drop of nearly 19%.

 

 

 

 

Lee County a Hot Market; Low Inventory Headed into Season (Fort Myers, FL – October 22, 2015)

 

Lee County a Hot Market; Low Inventory Headed into Season (Fort Myers, FL – October 22, 2015) Lee County continues to be a very hot market! Homes are selling for more money, and they continue to sell quickly.

 

According to the latest numbers just released by Florida Realtors®, there were 14% more closed sales of Single Family Homes in September than the same time in 2014. The median sale price for a Single Family home has also risen to $211,578 – a 20% increase year over year.

 

Condos and Townhomes are also doing well on the market. Closed sales were up 7.1% and the median sale price was $188,000, which is up from $170,500 in September 2014.

 

All of the cities saw an increase in the number of sales over last year with the exception of Lehigh Acres and Pine Island. The price range continues to inch up with most homes selling between $150,00 - $300,000.

 

The Months Supply of inventory continues to drop year over year. In September, supply was at 3.7 months, which is a 21.3% drop from this time last year. That means, as we head into Season, the inventory of homes for sale in Lee County will be much lower than normal.

 

 

 

Home Prices on the Rise; Inventory down in Lee County (Fort Myers, FL – September 22, 2015)

 

Home Prices on the Rise; Inventory down in Lee County (Fort Myers, FL – September 22, 2015) Homes in Lee County are selling for significantly more than this time last year, according to new data just released by Florida Realtors®.

 

The Median Sale Price for a Single Family Home during the month of August was $205,000. That is more than a 12% increase from August 2014, where the Median Sale Price was $182,500. Single Family homes are also staying on the market for a much shorter duration than the same time last year: 32 days in August 2015 compared to 42 days in 2014.

 

The Months Supply of inventory dropped nearly 25% since August 2014 to 3.7 months for a Single Family home. The majority of Single Family properties were sold in a Traditional Sale (83.6%). Foreclosures are down to 14% with Short Sales taking up only 2% of sales.

 

Fort Myers Beach saw the largest positive change in closed sales – up 60% in August year-over-year.

 

 

 

 

Lee County Homes Sales Continue to Grow; Little Bokeelia Island Sells for $14.5 Million (Fort Myers, FL – August 24, 2015)

 

Lee County Homes Sales Continue to Grow; Little Bokeelia Island Sells for $14.5 Million (Fort Myers, FL – August 24, 2015) Lee County continues to be a seller’s market once again, as shown by data just released from Florida Realtors®.

 

There were large jumps in the number of closed sales in North Fort Myers, Lehigh Acres and Cape Coral in July. There was also a significant increase in the final sale price of Lee County homes.

 

The Median Sale Price of single-family homes jumped to $210,900 in July 2015, compared to $179,900 in 2014. That is more than a 17% increase year-over-year. Single-family homes spent a Median 36 days on the market, a 25% drop yearover-year.

 

The Median Condo and Townhome sale price increased 6% to $169,500, as compared to $159,950 in 2014.

 

Meanwhile – a Lee County island has a new owner. Little Bokeelia Island sold in July for $14.5 Million after spending 1,148 days (more than three years) on the market. It had been listed for $24.5 Million before selling last month.

 

 

 

Lee County Housing Market Continues To Be A Seller’s Market (Fort Myers, FL – July 21, 2015)

 

Lee County Housing Market Continues To Be A Seller’s Market (Fort Myers, FL – July 21, 2015) The latest data released from Florida Realtors® shows Lee County continues to be a seller’s market.

 

The Median Sale Price of single-family homes saw a jump of more than 6% compared to June 2014, to $212,250.

 

Meanwhile, the Median Sale Price for Condos in Lee County increased 8.2% year over year to $185,000 for the month of June 2015.

 

We also saw a nearly-50% increase in the number of closed sales for homes in the $150,000 - $199,999 price range compared to June of last year.

 

Single-family homes spent a median 38 days on the market, a 14-day difference from last year and a drop of nearly 27%.

 

 

 

 

Lee County Housing Market Continues To Be A Seller’s Market (Fort Myers, FL – June 22, 2015)

 

Lee County Housing Market Continues To Be A Seller’s Market (Fort Myers, FL – June 22, 2015) The latest data just released from Florida Realtors® shows Lee County continues to be a seller’s market.

 

The Median Sale Price of single-family homes has once again climbed compared to May of last year. It increased 11.4% year over year for the month of May to $217,250.

 

The Median Sale Price for Condos in Lee County increased 11.8% year over year to $190,000 for the month of May 2015. There was also a significant jump in closed sales in the $400,000-$599,999 price point, with a 25% increase over May of last year.

 

In May 2015, single-family homes spent only 40 Median days on the market, a decrease of 11.1% year over year. 

 

 

 

 

Lee County Housing Market Continues Climb and to Show Signs of Stability (Fort Myers, FL – May 22, 2015)

 

Lee County Housing Market Continues Climb and to Show Signs of Stability (Fort Myers, FL – May 22, 2015) The Median Sale Price of single-family homes has continued to climb compared to April of this last year. It has increased 14% year over year for the month of April to $228,000.

 

The Median Sale Price for Condos in Lee County increased 7.1% year over year to $181,000 for the month of April 2015.

 

We saw a significant jump in closed sales in the $600,000-$999,999 price point, with an 85% increase over last year. There was also a significant uptick in closed sales in the $300,000- $599,999 price point. We are also seeing a shrinking inventory of homes priced less than $100,000.

 

In April 2015, single-family homes spent only 37 Median days on the market, a decrease of 22.9% year over year. That, and the fact that the Months Supply of Inventory is down 18.6% over last year to 4.8 months, indicates that Lee County continues to be a seller’s Market.

 

 

 

 

Lee County Housing Market Continues Climb and to Show Signs of Stability (Fort Myers, FL – April 22, 2015)

 

Lee County Housing Market Continues Climb and to Show Signs of Stability (Fort Myers, FL – April 22, 2015) The Median Sale Price of single-family homes has continued to climb compared to March of this last year. It has increased 18.9% year over year for the month of March to $219,938.

 

The Median Sale Price for Condos in Lee County increased 14.2% year over year to $185,000 for the month of March 2015.

 

“We continue see a decline in the months supply of inventory, and in March 2015 we were at 5.2 months supply compared to 6.3 months in March 2014,” says Jason M. Jakus, President of the Realtor® Association of Greater Fort Myers and the Beach, Inc. “Distressed sales make up only 15% respectively, with Short Sales being 2% and Foreclosures 13% of Single Family Homes sold. This is a positive trend that we continue to see month over month.

 

” In March 2015, single-family homes spent only 44 Median days on the market, a decrease of 8.3% year over year. That, and the fact that the Months Supply of Inventory is down 17.5% over last year to 5.2 months, indicates that Lee County continues to be a seller’s Market.

 

 

 

 

Lee County Housing Market Continues Climb and to Show Signs of Stability (Fort Myers, FL – February 21, 2015) 

 

Lee County Housing Market Continues Climb and to Show Signs of Stability (Fort Myers, FL – February 21, 2015) The Median Sale Price of single family homes has continued to climb slightly compared to January of this year. It has increased 6.5% year over year for the month of February to $197,000.

 

The Median Sale Price for Condos in Lee County increased 9.7% year over year to $170,000 for the month of February 2015.

 

Short Sales of single family homes has continued to decreased significantly by 21.4% year over year in February, with only 34 Short Sales in Lee County. Foreclosures h a v e increased from 136 to 191 year over year, pushing up to 20% of all sales. This is up from 17% in December. Traditional Sales of single family homes still make up 77% of all Single Family sales, pointing to a healthier market.

 

In February, single family homes spent only 43 Median days on the market, a decrease of 17.3% year over year. That, and the fact that the Months Supply of Inventory is down 11.5% over last year to 5.6 months, indicates that Lee County continues to be a seller’s Market.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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