Lee County's Single Family housing market saw a decrease for the fourth straight month in January, according to the latest statistics just released by Florida Realtors®. Year-over-year. sales were down for both by double digits, but Townhouses and Condos are holding steady over the last four months.
January showed a -18.7% decrease in the number of Closed Sales for Single Family Homes, and a -10.4% decrease for Townhouses and Condos, compared to the same time last year. Median Sale prices were up slightly for Single Family, while Townhouse and Condos remain steady. Inventory is on the rise with Single Family showing 6.5 Months Supply of Inventory and 7.5 for Townhouses and Condos. The number of Active Listings jumped up again for a fifth straight month at 18.9% for Single Family Homes and 12.5% for Townhouses and Condos compared to 2018. The time properties spent on the market in January, was 67 Days for Single Family Homes and 77 Days for Townhouses and Condos.
Broken down by cities, Single Family sales in Bonita Springs, Pine Island and North Fort Myers saw an increase in the number of Closed Sales. year over year. All the remaining cities saw a decrease over last year. With Sanibel having a -60% and Fort Myers Beach having a -58.3% showed the largest decrease over 2018.
When looking at Closed Sales by Price Point, the numbers were mostly down for Single Family Homes for all price ranges in between $100,000 -$299,999 by double digits for the second month, compared to 2018. The $50,000 -$99,999 range saw a slight increase in January, as well as, the $300,000 -$599,999. For Condos and Townhouses, there was a significant increase of 600.0% in the under $50,000 price point. The $250,000 -$299,999 also saw an increase of 22.5% compared to 2018. The $1,000,000 and above took the largest decrease of -58.3% compared to last year.
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