Local Real Estate Stats and Market Data for SW Florida
– December 2020 data
Median Sales Price: The median sales price of all homes in Lee County FL has steadily increased since April of this year. The median sales price as of last month was $314,000. This is up 4.3% from last month, up 16.3% from the beginning of the year, and up 19% from this time last year.
Inventory of Homes: The inventory of homes that are currently on the market has steadily decreased over the past many months, as buyer demand outpaces the number of new listings. The current number of properties on the market is down 23% from last month, down 50% from the beginning of the year, and down 47% from this month last year.
Days on Market: As expected, with strong demand coupled with fewer homes to show each buyer, the result is fewer days on market for each property before receiving an acceptable offer and thus going under contract. The current “days on market” across all property types is 26 days. This is down from 46 days in January, and 46 days a year ago.
New Pending Sales: The balance is supply and demand is primarily due to a very strong demand. We see that from new pending or (under contract) sales. New pending sales a year ago were 2,463 in 2019, they were 2,795 in January, and are a whopping 5,674 this past month!!
New Listings: The counterpart to the “demand” seen in new pending sales, is the “supply” side of the economic model seen with new listings. Current new listings this past month was 3,622, which is a decent number, but well short of the new pending sales number.