• Year-over-year sales were down double-digit points for singlefamily and townhouse/condominium properties versus April 2019 amid the COVID-19 pandemic.

FORT MYERS, Fla. – Lee County’s housing market saw a double-digit decrease in closings in both the single-family and townhouse/condominium categories in April, compared to the same period a year ago. Year-over-year, sales were down by 14.1% for single-family and 31.2% for townhouses and condominiums, according to figures just released by Florida Realtors®, an umbrella organization for Realtor® groups throughout the state.

April continued to show a median sale price increase of 3.2% for single-family and 9.8% in the townhouse/condominium category. Inventory is significantly down for both. Year-over-year, local inventory of single-family dwellings is down at 22.9 % as shown in active listings. A 4.3 -month supply of inventory shows the market shifting into a sellers’ market.

In the townhouse/condominium category, listings were down 21.1% versus March 2019. That translates to a 5.1-month supply, shows a balanced market.

Time spent on the market in April was shortened to just 48 days for single-family homes and 45 days for townhouses and condominiums. April 2019 showed 71 days for single-family and 77 days for townhouses and condominiums. This is another indication that we are in a sellers’ market.

Broken down by city, single-family homes all of the cities showed a decrease in sales, with the exception of Estero, which had a 7.7% over last year. Pine Island and Fort Myers saw the largest decrease in sales with a 34.8% and 24.8%. single-family homes sold with 109 closed sales. Fort Myers Beach posted a 24.8% decrease in median price compared to last year.

When looking at closed sales by price point, all single-family were affected by the decrease in sales. The lower price points showed the highest decrease, in both single-family and for townhouses and condominiums. Townhouses and condominiums priced at $1 million or more did show an a 12.5% gain.

SOURCE: Royal Palm Coast Realtor Association

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