According to a year-end market report from the Florida Realtors®, the housing market in the state of Florida as a whole was better than 2014 with more closed sales, more new listings and higher median prices.
In Lee County, the number of closed sales for Single Family Homes was up 9.7% to 13,635, compared to 12,427 in 2014. For Condos and Townhomes, sales were up 2.3%.
The Median Sale Price shot up nearly 13% to $213,150 for Single Family Homes.
For Condos and Townhomes, the price rose 7.3% to $179,000
The Statewide Median Price for Single Family Homes was $196,000 up 10.1% from 2014. The Statewide Median Price for Condos and Townhomes was $150,000 up 7.1% from 2014.
Homes did not stay on the market as long in 2015 with a Median Days on Market of just 35. In 2014 the number was 43.
The Months Supply of Inventory dropped 13.5% from 2014 to 2015 to a 4.5 months supply. The previous year the supply was 5.2.
Chief Economist for Florida Realtors®, Dr. Brad O'Connor, says the outlook for 2016 is extremely positive. "We expect home prices...to continue to rise at an elevated pace in 2016, as much of the state is in the midst of an inventory shortage that is likely to persist throughout the year."
With this outlook I would say now is a great time to Sell and a good time to Buy.
I am prepared to provide the Consumer with the information to help them make the best decision to reach their goals.