National Real Estate Stats and market data
Local Real Estate Stats and Market Data for SW Florida
- May 2018 data
Median Sale Price:
Locally, the median sale price for single family homes increased about 1% from the previous month to $262,500. This represents an increase of 5.4% from the same time a year ago. The median sales price for condos and town homes increase from last month 4% to $198,000. This still reflects an overall decrease of 1.5% from last year.
Inventory of homes:
Housing inventory increased about 5.1% over the same time last year. This represents a 5.7 months supply of inventory for single family dwellings and 6.6 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 55 days for single family homes and 61 days for condos and town homes.
Conclusion:The local real estate market is softening, and essentially flat from this time a year ago. Currently a balanced market for single family homes and 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.
Single Family Stats: