Southwest Florida Market Perspective:
Closed sales during August were sluggish, with 1,646 sales reported for the month. However, the number of homes for sale in Southwest Florida fell 4% since July, marking four consecutive month-over-month declines in listing inventory. As a result, months of supply tightened slightly month-over-month, from 6.24 to 6.08, remaining within the 6 to 12 months considered to reflect a balanced market in Southwest Florida.
Closed sales during August were sluggish, with 1,646 sales reported for the month. However, the number of homes for sale in Southwest Florida fell 4% since July, marking four consecutive month-over-month declines in listing inventory. As a result, months of supply tightened slightly month-over-month, from 6.24 to 6.08, remaining within the 6 to 12 months considered to reflect a balanced market in Southwest Florida.
Under balanced market conditions, sellers should expect homes to sell within a reasonable period of time, but not as quickly as they did during the pandemic driven buying surge. Closed sales for August posted an average of 76 days on the market, faring well compared to the 85-day average posted under balanced market conditions in the three years preceding the pandemic. Sellers should also bear in mind that buyers have choices, and that pricing in line with recent closed sales and to compete with other available properties is a necessary strategy when it comes to attracting offers.
For buyers, although a balanced market means options exist now that didn’t during the sellers’ market of years past, it also means that properly priced homes are selling and may not last long. For buyers and sellers alike, with the average sale price having moved little in recent years, pricing can be harder to assess which is only one of many complexities that make the expertise of a skilled, professional Realtor® a critical component to achieving the highest success.
We are pleased to announce that through August, John R. Wood Christie’s International Real Estate continues to rank as the top brokerage in total year-to-date sales volume and transactions in Southwest Florida!*
We are pleased to announce that through August, John R. Wood Christie’s International Real Estate continues to rank as the top brokerage in total year-to-date sales volume and transactions in Southwest Florida!*
