FOR IMMEDIATE RELEASE
(Fort Myers, FL –June 21, 2019) – Lee County’s housing market saw a nice increase over April with an 8% increase in closed sales compared to 2018, according to the latest statistics just released by Florida Realtors®. Year-over-year, sales were up by 8.1% for Single Family and 8.7% for Condos & Townhouse.
May showed Median Sale prices were up slightly at 1.6% for Single Family, while Townhouse and Condos showed a higher increase of 7.8%. Inventory is up year-over year with Single Family up by 7.7% in Active Listings, showing a 5.7 Months Supply of Inventory. Active listings were down by -1.0% year-over-year for Townhouses and Condos with a Months Supply of Inventory of 6.2. The time properties spent on the market in May, was 68 Days for Single Family Homes and 74 Days for Townhouses and Condos, both up compared to last year.
Broken down by cities, Single Family in Bonita Springs had a strong increase of 31.6% over 2018. There was a significant drop in sales for Fort Myers Beach at -52.4% over 2018. Lehigh Acres, Pine Island and Sanibel/Captiva also showed a double digit drop over last year.
When looking at Closed Sales by Price Point, the numbers were mostly up for Condos & Townhouses for all price ranges in between $100,000 and up, compared to 2018. For Single Family, there was both increases and decrease across all the different price points. The $200,000 to over a million price points all showed an increase compared to last year.
PLEASE CLICK LINK TO SEE THE NUMBERS FOR MAY: SWFL Realtors® Monthly Market Report for May 2019