(Fort Myers, FL – February 22, 2017) – 2017 started off with a lot of positives for the Lee County housing market. Closed Sales, Pending Sales, Sale Price were all up in January. However, there were some statistics that were in the green that indicate more of a buyers market, including Months Supply and Median Time to Contract.

Starting out the new year, the number of Closed Sales were up for both Single Family Homes (46 more, or a 6% increase) and Condos (29 more, or a 7.6% increase), compared to the same time last year. Median Sale Prices rose almost 8% for Single Family Homes, and stayed level for Condos. Pending Sales jumped more than 18% for Condos in January, while Single Family Homes stayed about flat.

The number of Active Listings skyrocketed for Condos in January. There were 3,589 Active Listings compared to 2,708 in 2016 – a jump of 32.5%. Active Listings for Single Family Homes jumped 12%. Contracts are taking longer, with a Median Time to Contract of 61 days last month, compared to 55 days in 2016.

The Months Supply of Inventory last month was more than 18% higher than it was in January 2016.

The cities with the biggest jump in the number of Single Family Home Closed Sales last month were Sanibel/Captiva (35.3%), Pine Island (25%), and Estero (31.4%). Fort Myers Beach closed sales dropped 60% year-over-year, but the current median price for a home on the beach is $1,795,000 – an increase of 211.6% compared to last year.

Media Contact: Laura Shay laura@rpcra.org

January Home Sales Strong

Naples, Fla. (February 17, 2017) – The new year rebounded with a strong gust of activity in the Collier County real estate market. Increases in overall pending sales (homes under contract), overall closed sales and overall inventory indicate a strong season ahead. Broker analysts who …

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