Lee County’s housing market saw a decrease for the April in year-over-years Sales of Single Family -6.8%, but a nice increase over March with 1,362 closed sales, according to the latest statistics just released by Florida Realtors®. Year-over-year, sales were up by 6.9% for Condos & Townhouse, recording the highest number of closed units since at least 2010! The condo and townhouse market is on fire!
April showed Median Sale prices were up slightly at 1.3% for Single Family, while Townhouse and Condos showed a slightly higher increase of 3.5%. Inventory is up year-over year, but down from March 2019 with Single Family up by 10.2% in Active Listings, showing a 6.1 Months Supply of Inventory. Active listings were also up by 6% year-over-year for Townhouses and Condos with a Months Supply of Inventory of 6.9. The time properties spent on the market in April, was 71 Days for Single Family Homes and 77 Days for Townhouses and Condos, both up compared to last year.
Broken down by cities, Single Family in Fort Myers was the only city that showed an increase at 5.3%, year over year. All the remaining cities saw a decrease over last year. With Fort Myers Beach showing the largest decrease at -52.4% compared to last year.
When looking at Closed Sales by Price Point, the numbers were mostly up for Condos & Townhouses for all price ranges in between $50,000 and up, compared to 2018. For Single Family, there was both increases and decreases across all the different price points. The hardest hit was the $1,000,000 and above price point and the $100,000-$149,000 price point.
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Pinnacle Property Group
Lee County Market Update April 2019