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December 2022 Market Update
By D. Michael Burke
It’s been a little more than 2 months since Hurricane Ian made downfall in Southwest Florida, and statistical data indicates the real estate market has made a swift recovery. For example, we’re currently back up to 7,202 active listings in the MLS, which is on par with how many we had before the hurricane struck.
Listings’ average days on the market also remain favorable, at 34 days for Lee County and 49 days for Collier County. Closed-sale prices (i.e., the list price to sales price ratio) are also still impressive.
In the past decade, homes in Lee and Collier counties sold for an average of 96.5% and 95.5% of the list price, respectively. Currently, the average sales price to list price in Lee County is 97%, and at 96% in Collier County.
Suffice to say, if you’ve been thinking about listing your home but you’ve been concerned that the market is still in recovery mode, the data clearly suggests otherwise.
If you’re thinking about listing your home and you have questions about the current state of the market, we’re here for you. We are in this together and if you have a need please reach out to your local experts.
Our experienced team of professionals is here to help you achieve your residential real estate goals. Whether buying or selling, our tools are PROVEN to help you get the most from your transaction!
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