January 2022 Market Update

By D. Michael Burke

Happy New Year! It’s almost hard to believe that we’re nearly two years into this almost unprecedented sellers’ market. And while there are some preliminary signs that the market may be starting to level off, sellers still have the upper hand.

We’re also still seeing strong activity in both Lee and Collier Counties.

For example 2021 statistics show that there has been a mass exodus of residents from high tax states, such as California, New York, and Illinois (among others), who appear to be favoring lower tax states, such as Florida and Texas. In fact, both of these states experienced notable population bumps in the past 12 months.

This is great news for Southwest Floridians who are thinking about listing their homes this year.

Also, notable, is that recent data suggests that as of Dec. 31, the number of homes for sale in Lee County declined by roughly 67.2% from levels reported in 2020, whereas the average sales price jumped by more than 26%, to $425,782, during that same reporting period.

Data from Collier County is equally impressive. In that county, the number of homes for sale in 2020 declined by an astonishing 73.6%, while the average 2021 sales price climbed to $831,473, which reflects an increase of 18.2%, year-over-year.

Suffice to say, if you’re thinking about selling your home this year, it’s best to get in while the market is still hot.

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!