July 2023 Market Update

Lots of local homeowners continue to ask us if it’s still a good time to sell their homes. And while the market isn’t as hot as it was in mid-2020, it still has quite a bit of strength to it. Not only are median sales prices still high, the number of new listings is also falling steadily.

For example, for the during the month of May, the median sale price (for all property types) in Lee County was recorded at $405,000, which is within approximately $5,000 of where median sales prices were a year ago. New listings, however, are down by roughly 12%, year-over-year.

In Collier County, during that same reporting period, the median sale price (for all property types) was recorded at $639,000 which is within approximately $1,300 of where median sales prices were a year ago. New listings in this county are down by roughly 30% from where they were in May 2022.

The bottom line is this: Despite negligible year-over-year declines in median home sales prices in our region, Southwest Florida remains an attractive destination for home buyers. If you’ve been thinking about selling but you haven’t been sure if it’s the right time to list your property, it may be worth your while to speak with a local, licensed real estate agent.

If you’re contemplating listing your home and have concerns about the current state of the market, rest assured that we’re here to assist you. Our team of experienced professionals is dedicated to helping you achieve your residential real estate goals. Whether you’re buying or selling, our proven tools and strategies will ensure that you get the most out of your transaction.

With the allure of Southwest Florida and our unwavering support, now is an excellent time to take advantage of the opportunities the market has to offer. Don’t hesitate to reach out to us with any questions you may have.