Lee County’s housing market saw a nice increase from February sales. The number of sales year over year for both Single Family and Condos saw a decrease.
March showed Median Sale prices were up slightly at 2.1% for Single Family, while Townhouse and Condos showed a decrease of 3.7%, still remaining steady. Inventory is still on the rise with Single Family up by 12.1% in Active Listings compared to 2018, showing a 6.4 Months Supply of Inventory. Active listings were also up by 7.4% for Townhouses and Condos with a Months Supply of Inventory of 7.4. The Active listings have been on the rise for the last six months, with a slight dip this month, pushing inventory up its highest before 2015. The time properties spent on the market in March, was 72 Days for Single Family Homes. Townhouses and Condos spent less time on the market at 59 Days, compared to 66 Days last year.
Broken down by cities, Single Family sales in Lehigh Acres rose the most with an increase in the number of Closed Sales, year over year of 13.0%. Most of the remaining cities saw a decrease over last year, with the exception of Bonita Springs and Estero. Sanibel again showing the largest decrease at -48.4% compared to last year.
When looking at Closed Sales by Price Point, the numbers were mostly down for Single Family Homes for most price ranges. The $600,000 - $999,999 saw an increase of sales by 15.5%.
Download the full Lee County Single Family Report
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Brian Ludden
Pinnacle Property Group