Closed home sales down across Lee County in April

Lee County’s housing market saw a double-digit decrease in closings in both the single-family and townhouse/condominium categories in April, compared to the same period a year ago, according to the Royal Palm Coast Realtor Association.

Year-over-year, sales were down by 14.1% for single-family and 31.2% for townhouses and condominiums, according to figures just released by Florida Realtors, an umbrella organization for Realtor groups throughout the state.

April continued to show a median sale price increase of 3.2% for single-family and 9.8% in the townhouse/condominium category. Inventory is significantly down for both, the release states. Year-over-year, local inventory of single-family dwellings is down at 22.9% as shown in active listings. A 4.3-month supply of inventory shows the market shifting into a sellers’ market.

In the townhouse/condominium category, listings were down 21.1% versus March 2019. That translates to a 5.1-month supply, shows a balanced market.

Time spent on the market in April was shortened to just 48 days for single-family homes and 45 days for townhouses and condominiums. April 2019 showed 71 days for single-family and 77 days for townhouses and condominiums. This is another indication that we are in a sellers’ market, according to the association.

Broken down by city, single-family homes all of the cities showed a decrease in sales, with the exception of Estero, which had a 7.7% hike over last year. Pine Island and Fort Myers saw the largest decrease in sales with a 34.8% and 24.8% single-family homes sold with 109 closed sales. Fort Myers Beach posted a 24.8% decrease in median price compared to last year.

When looking at closed sales by price point, all single-family homes were affected by the decrease in sales. The lower price points showed the highest decrease, in both single-family and for townhouses and condominiums. Townhouses and condominiums priced at $1 million or more did show a 12.5% gain.

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