• Amid COVID-19 pandemic, year-over-year sales were down slightly for single-family and townhouse/condominium properties versus June 2019.
FORT MYERS, Fla. – Lee County’s housing market saw a slight decrease in closings in both the single-family and townhouse/condominium categories in June compared to the same period a year ago. This is typical in our market area in summer months, when sales activity tends to be lower. Closings in the single-family category were up in June 2020 (1,241) compared May 2020 (924). Year-over-year, sales were down by 1.3% for single-family and 12.8% for townhouses and condominiums, according to figures just released by Florida Realtors®, an umbrella organization for Realtor® groups throughout the state.
June showed a median sale price increase of 5.3% for single-family and 0.6% in the townhouse/condominium category. This shows stability in the pricing segments. Inventory is significantly down for both. Year-over-year, local inventory of single-family dwellings is down again this month at 28.7% as shown in active listings. A 3.6-month supply of inventory shows the market is in a sellers’ market. More listings are seeing multiple contracts of offers.
In the townhouse/condominium category, listings were down 15.0% versus June 2019. That translates to a five-month supply and shows a more balanced condo market.
Time spent on the market in June was about the same as June 2019 — 78 days for single-family homes and 81 days for townhouses and condominiums. June 2019 showed 71 days for single-family and 75 days for townhouses and condominiums.
Broken down by city, Estero saw a 30.9% increase in single-family dwellings over last year. Sanibel/Captiva followed with an 11.1% increase. Pine Island saw a large loss at 53.8% decrease compared to last year.
When looking at closed sales by price point, all single-family homes the difference was mixed with the biggest increase in price for Pine Island.
About the Royal Palm Coast Realtor Association
Comprising a membership of more than 7,000 Realtors, RPCRA exists to advance the success of its members, serving as a resource for professional development and an advocate in community issues affecting members, their customers and property owners’ rights. RPCRA serves all of Southwest Florida, with offices in Cape Coral, Fort Myers and South Fort Myers. For more information, visit www.rpcra.org (SOURCE).
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