In February we experienced a drop in closes transactions compared to February 2015.
There were 825 Single Family homes closed this February which is down 12.5% from 2015 when there were 943 closed.
There was also a 26% drop in Condo closings-down from 521 to 385.
What is interesting is that the Median Sales Price continued UP. For Single Family homes the median Sales Price was $216,810, which is nearly a 12% rise over 12 months. In February 2015 the Median Sales Price was $194,000.
Condo sales prices rose 13% to a Median Sales Price of $192,000.
February was the 51st month in a row that statewide (Florida) the median sales price rose year over year.
In February there was not change, year over year, in Months Supply of Inventory. It remained at 5.4 months.
Sanibel/Captiva were the only cities in Lee County that had a decrease in Median Sales Price with a decrease of -10.4%
The Second Quarter of the year has been the time when Lee County has the largest number of home sales.
With prices continuing to go up, Buyers who have been putting off making a purchase should give careful consideration to securing their Florida home now.
I am prepared to help find your Dream Home, whether it is a Second home, Permanent Residence or an Investor property.
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