May 2019 Real Estate Stats for SW Florida

By
Real Estate Sales Representative with The Lang Team - Keller Williams Realty

LOCAL REAL ESTATE STATS AND MARKET DATA FOR SW FLORIDA

– May 2019 data

MEDIAN SALE PRICE:

Locally, the median sale price for single family homes increased about 6% from the previous month to $266,500. but represents only an increase of 1.3% from the same time a year ago.  The median sales price for condos and town homes increase from last month 5.6% to $195,000. This reflects an overall increase of 3.5% from the same time last year.

For the most part, median sales price has been “flat” for the past 4 months, and up only slightly from a year ago.

INVENTORY OF HOMES:

Housing inventory for single family home increased 10.2%, and condos/town home inventory increased 6% over the same time last year. This represents a 6.1 months supply of inventory for single family dwellings and 6.9 months supply for condos/town homes. Experts typically equate an inventory level of about 6.0 months or more to a buyers market;and less than 5.5 months to a sellers market.Average days on market are 71 days for single family homes and 77 days for condos and town homes.

Double-digit increases in inventory are quite dramatic and further increases will most likely effect sales prices for 2019.

CONCLUSION:

The number of closings each month has been lower year-over-year for the past several months, this contributes to the increasing levels of housing inventory and flat sale prices.

Prices points of over 300k are clearly in a buyer’s market in both condos and single family homes. Price points of under 300k are still a balanced market for single family homes, but a buyer’s market for condos.  In many price points and communities, appreciation has slowed or stopped. This may be the perfect time to sell being at the “peak” of the cycle. One must be cautious not to over-price their home. 
Interest rates remain low and gives the average buyer continued buying power.

Posted by

David Lang

Keller Williams Fort Myers & the Islands

239-677-8780

dave@thelangteam.net

https://www.SWFloridaHomeSearch.com

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Rainmaker
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Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

Thank you for keeping us posted and up to date. Best of luck!

May 22, 2019 12:22 PM #1
Rainer
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Sally Crane
WMS - Unity, WI
Woodland appraisal support.

Thanks for the update, all the best to you as you get many of these properties listed and sold.

May 22, 2019 02:27 PM #2
Rainmaker
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David Lang
The Lang Team - Keller Williams Realty - Fort Myers, FL
Taking the stress out of buying and selling.

Thank you.

May 24, 2019 06:27 AM #3
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Rainmaker
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David Lang

Taking the stress out of buying and selling.
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