September 2022 Market Update

By D. Michael Burke

The summer may be winding down, but the Southwest Florida real estate market is still holding strong. If you’re thinking about selling your home in advance of snowbird season and you’re wondering if you can still garner an attractive sales price, we have some good news for you.

According to recent data, the average sales price for single-family homes, townhouses, and condos, in both Lee and Collier County, is still up by at least 19% from levels recorded in July 2021.

For example, data from July shows that in Collier County, the average sale prices for single-family homes was recorded at $1,427,512, which is 19% higher than it was a year ago. Looking to Lee County sales in July, the average sale price for single-family homes was recorded at $597,872, which reflects a 20% jump from July 2021.

A similar trend is being seen in both counties for condos and townhomes.

Also in July, the average sale prices for townhomes and condos in Collier County was recorded at $758,495, which is up by an astonishing 36% year-over-year. During that same month, the average sale prices for townhouses and condos in Lee County was recorded at $597,872, which is 30% higher than it was in July of last year.

If you’re thinking about listing your home before the Midwest and Northeast get their first frost of the season, you should absolutely schedule a time to talk to a local real estate agent. Not only can they help you understand how to price your home to sell, they can also help you understand the average amount of time your listing is likely to stay on the market.

The bottom line is this- if you’re wondering if it’s still a good time to put your home on the market, the answer is still yes. Sales prices are still up substantially year-over-year—and if you bought when prices were lower, you still stand to make a very good profit.

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