Closed sales for the 12-month period ending December 31 were up 23% from the preceding 12-months, from 31,834 to 39,179. Sales for the month of December, although down 20% from the unprecedented surge we experienced in 2020, were up 34% when compared to pre-pandemic levels of the three preceding years.
Listing Inventory / New Listings
With 2,108 properties on the market as of December 31, listing inventory remains low. This is less due to a lack of listings entering the market than it is to the rate at which listings are selling. New listings for the 12-month period ending December 31 were down 4% from the preceding 12 months, from 37,855 to 36,282.
Average Selling Price
The average selling price for the 12-months through December 31 was $641,354, up 24% from the preceding 12-month period when the average selling price was $518,791.
Despite historically low standing inventory throughout the year, with nearly 40,000 properties sold, 2021 broke all past annual closed sales records. New listings, although down somewhat from 2020, still came in at a steady pace but most were spoken for by buyers right away, sometimes even prior to the listings making it to the Multiple Listing System and thereby never being counted in the standing inventory. 2021 also realized a notable increase in the average sales price with a 24% gain over the preceding year. By comparison, 2020 posted a 17% increase. Notably, prior to these considerable increases, the average price only rose an average of 2% per year from 2016 through 2019. The average sales price in Southwest Florida has risen an average of 11% per year over the past five years.
For 2021, John R. Wood Properties surpassed all other brokerages in total closed transactions, total closed sales volume, and total listings sold in Southwest Florida!