• Amid COVID-19 pandemic, year-over-year sales were down slightly for single-family and townhouse/condominium properties versus June 2019.

July 22, 2020. FORT MYERS, Fla. – Lee County’s housing market saw a slight decrease in closings in both the single-family and townhouse/condominium categories in June compared to the same period a year ago. This is typical in our market area in summer months, when sales activity tends to be lower. Closings in the single-family category were up in June 2020 (1,241) compared May 2020 (924). Year-over-year, sales were down by 1.3% for single-family and 12.8% for townhouses and condominiums, according to figures just released by Florida Realtors®, an umbrella organization for Realtor® groups throughout the state.

June showed a median sale price increase of 5.3% for single-family and 0.6% in the townhouse/condominium category. This shows stability in the pricing segments. Inventory is significantly down for both. Year-over-year, local inventory of single-family dwellings is down again this month at 28.7% as shown in active listings. A 3.6-month supply of inventory shows the market is in a sellers’ market. More listings are seeing multiple contracts of offers.

In the townhouse/condominium category, listings were down 15.0% versus June 2019. That translates to a five-month supply and shows a more balanced condo market.

Time spent on the market in June was about the same as June 2019 — 78 days for single-family homes and 81 days for townhouses and condominiums. June 2019 showed 71 days for single-family and 75 days for townhouses and condominiums.

Broken down by city, Estero saw a 30.9% increase in single-family dwellings over last year. Sanibel/Captiva followed with an 11.1% increase. Pine Island saw a large loss at 53.8% decrease compared to last year.

When looking at closed sales by price point, all single-family homes the difference was mixed with the biggest increase in price for Pine Island.

SOURCE: Royal Palm Coast Realtor Association

June Market Activity Sets …

Click to see the full report