September 2023 Market Update

Greetings and happy post Labor Day! Now that we’re all back to work after the holiday weekend, lots of people are asking us about the state of the SWFL real estate market. What’s most notable to us, is that data from the most recent Florida Gulf Coast University Regional Economic Research Institute appears to indicate that there’s still good news for existing homeowners looking to list their properties.

For example, their most recent report notes that single-family building permits for the region’s coastal counties fell by 22% between July 2022 and July 2023. During that same reporting period, single family home prices in Lee County decreased by a scant 1%, against declines of as much as 7% in other parts of the U.S. Also notable, is that single family home prices in Collier County actually increased by 4% year-over-year.

So what does this mean for homeowners who are looking to sell?

Lessened availability of new construction builds, coupled with the relative stability (if not increases) in single family home prices within the region, means that if you’re thinking about listing your home, now is still a great time to do so. Not only will listing in September (or October) give you an opportunity to market your home to aspiring snowbirds, depending on the timeline of the sale, you may be able to close the sale before the end of the 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!