June 2023 Market Update

Amidst the discussions surrounding recent changes in the local real estate market, it’s important to maintain a positive perspective. While some may be concerned about the decline in activity, such as downticks in new listings, inventory, new pending sales, and closed sales, there are several encouraging factors that indicate a resilient market in Southwest Florida.

One noteworthy aspect is that despite the slowdown in activity, median home sales prices have remained strong. Take, for instance, the average sale price for single-family homes in Lee County during the month of April, which stood at $599,598. This figure represents a modest increase from the previous year, demonstrating the market’s stability. Similarly, townhouses and condos in the area saw an impressive 14% growth in the average sale price, reaching $464,707 compared to the same reporting period last year.

In Collier County, the average sale price for single-family homes during the same period was recorded at $1,426,615, showing a minor decrease of approximately 1% year-over-year. However, townhouses and condos in the area experienced a remarkable 10% increase in the average sale price, reaching $820,022.

These statistics emphasize the continued desirability of Southwest Florida, which plays a vital role in maintaining stability in the market. People not only choose to relocate to this region but also opt to stay, resulting in a sustained demand for housing in both Lee and Collier counties.

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.