February 2023 Market Update

Greetings and happy February. As we enter the second month of the year, there are key stats we wanted to share with people who are thinking about listings their home.

As of January 31, a total of 1,788 SWFL homes had been sold year-to-date. Additionally, data from January 31 reflects that the SWFL real estate market added 940 new listings in a 7-day period, which brought the current number of for-sale homes in the region to 8,408.

And despite the current active for-sale home inventory, the listing inventory remains well short of the 15,000+ active listings that were available prior to the pandemic. Demand is still robust. For example- although more than 900 listings were added in that 1-week period, 1,012 homes went under contract in that same timespan. Under contracts are still outpacing new listings on the MLS.

The average sale price for single-family homes and townhouses/condos is also still rising. December 2022 data out of Collier County indicates that the average sales price for single-family homes is up 11% year-over-year, while the average sale price for townhouses and condos was up by 4.4%. In Lee County, the average sale price for townhouses and condos was up by 2.1% year-over-year.

If you’re thinking about listing your home and you have questions about the current state of the market, we’re here for you.

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!