National Real Estate Stats and market data
Local Real Estate Stats and Market Data for SW Florida
- December 2018 data
Median Sale Price:
Locally, the median sale price for single family homes increased about 1% from the previous month to $252,000. This represents an increase of 2% from the same time a year ago. The median sales price for condos and town homes increase from last month 1.6% to $190,000. This reflects an overall increase of 3% from last year.
For the most part, median sales price has been “flat” for the past 10 months even though the number of sales remain robust.
Inventory of homes:
Housing inventory for single family home increased 17.4%, and condos/town home inventory increased 11.6% over the same time last year. This represents a 5.5 months supply of inventory for single family dwellings and 6.2 months supply for condos/town homes. Experts typically equate an inventory level of about 5.4 months or more to a buyers market;and less than 5.5 months to a sellers market. Average days on market are 67 days for single family homes and 71 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 local real estate market is softening, and essentially flat from this time a year ago in terms of sales price. Currently a balanced market for single family homes and a buyer’s market for condos, but inventory is rising which may create a buyer’s market in 2019. 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.
Single Family Stats:
Condo/Town Home Stats: