A look at the March 2016 Real Estate Report for Lee County Florida will show that Closed Sales dropped from March of 2015. At the same time, Closed sales were up compared to January and February of this year.
In March there were 1,115 Closed Single Family Home Sales. That represents a 13% drop from March 2016, when we saw 1,284 Closed Sales.
We should note that Condos and Townhouses had a much larger drop in Closed Sales with an 18% drop.
Other indicators of importance are:
Median Sales Price of Single Family was $225,000-up 4.2%
Active Listings were up 8.4%
Monthly Supply of Inventory was up 5.9% at 5.4 months
Median Days to Contract was down 13.4% at 58 days.
Median Pct of Original Price Listed went up 0.8% to 95.5%
Closed Sales by Price Point:
Less than $50,000 was down 66.7%
$50,000-$99,999 was down 37.0%
$100,000-$149,999 was down 30.4%
$150,000-$199,999 was up 11.1%
All price points above $200,000 were down.
Active Listings for Single Family was up 8% in March.
Active Listings for Condos and Townhouses were up 29%
In Lee County, history tells us that the Second Quarter of the year has the greatest number of Closed Sales.
At this point the market still favors the Seller, but if the current trend continues we will see a more balanced market.
If you are looking for property in Southwest Florida for a permanent home, vacation home or investment property, now is a good time to get serious in your search.
To find a property that fits your need you can search like an agent HERE:
Comments(6)