In May 2016, Lee County had more properties coming into the market.
We see that Active Listings of Single Family homes were up14% compared to May 2015.
As for Townhomes and Condos they show a much larger increase of units coming onto the market. They had a 36% increase over May 2015.
This means that Inventory increased 14% from May 2015. Inventory in May stood at 4.9 months.
Another interesting sign is that the Sale Price as a percent of
Listing Price stayed at 95.1%.
Median Sales Price was Up 4.7% at $225,000
There were 4 Price Points that showed a positive increase in Sales:
$150,000-$199,999 up 34.5%
$200,000-$249,999 up 36.2%
$$250,000-$299,999 up 19.3%
$300,000-$399,999 up 31.9%
With Inventory up and Sales Price up we still saw the Closed Sales down by 0.1%
The Consumer should understand that we are seeing a more Moderate increase in prices.
The Consumer would do well to take a look at Lee County for a Permanent Home, Vacation Home or for an Investment.
Knowing what is going on in the market is important to make great real estate decisions.
When looking for your home in Southwest Florida, make sure you talk to a knowledgeable agent that keeps up with the market conditions.
For more information contact me.
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