February 2022 Market Update

By D. Michael Burke

Greetings and happy February to everyone! Now that the holidays are behind us (and the houseguests are long gone), you may be wondering if it’s too late to get in on the home-selling action. We’re here to tell you it’s not. Regardless as to whether you’re looking to sell a single-family home, condo or townhouse, the numbers are still in your favor.

Yes, you may have seen various news reports about home price growth having decelerated for the third consecutive month last month—but despite what you’ve read (or heard) it’s still a sellers’ market.

For example, December 2021 data shows that in Collier County, the average single-family home sales price was up by roughly 26% from the same reporting period in 2020, whereas the average sales price for condos and townhomes was up by approximately 15%. Active for-sale inventory was also down significantly; inventory of single-family homes was down by 60%, while inventory of condos and townhomes was down by 73%.

The numbers out of Lee County are equally compelling. As of December 2021, the average sales price for single-family homes was still up by 28%, year-over-year, while the average sales price for condos and townhomes was up by roughly 21% during that same reporting period. During that same month, active single-family home inventory was down by 57% from levels recorded in December 2020, while active inventory of for-sale condos and townhomes was down by a staggering 72%

Is there a chance we’re cresting at the top of the bell curve? Possibly, but the bottom line is this: if you’ve been toying with the idea of selling your home this year, now is still a great time to do it.

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!

Let’s chat! Just give us a call at 239-498-7600. We look forward to hearing from you!