The January 27, 2021 edition of the Ft Myers Florida Weekly reports that “Lee County’s housing market again saw a double-digit increase in closings in the single-family category in December compared to the same period a year ago. Lee County closings in the single-family category were up sharply in December (1,648) compared December 2019 (1,221).
This is the highest number of closed sales for December going back to 2016. Year-over-year, sales were up by 35% for single-family and by 34.8% for townhouses and condominiums, according to figures just released by Florida Realtors, an umbrella organization for Realtor groups throughout the state.
December showed a median sale price increase of 41.9% for single-family and 11.8% in the townhouse/condominium category. Median price in the single-family category shows a steady and consistent rise in pricing, indicating a rise in the pricing segments. Inventory is still significantly down for both.
Year-over-year, local inventory of single family dwellings is down again this month at 53.2% as shown in active listings on the Multiple Listing Service. A 1.9- month supply of inventory shows we are in a sellers’ market as more listings are seeing multiple offers. Properties are going under contract in 26 days compared to 57 days in December 2019.
In the townhouse/condominium category, listings were down 36.8% versus December 2019. That translates to a three-month supply and shows the condo market is also now in a sellers’ market.
Properties last month went under contract in 46 days compared to 69 days in December 2019. Broken down by city, all cities saw an increase in the number of closed sales over December 2019. Fort Myers Beach sales surged 100%, and Sanibel Captiva registered a 95% increase in properties sold.
When looking at closed sales by price point, all single-family homes over $200,000 saw a significant increase over December 2019. Homes over $600,00 saw triple digit increases compared to December 2019.
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