Royal Palm Coast Realtor Association
More Listings, More Closings, and More Money Spent in Lee County
FOR IMMEDIATE RELEASE (Fort Myers, FL – July 25, 2017) – June was a busy month for the housing market. According to the latest statistics released by Florida Realtors®, Lee County saw more Closed Sales, More Active Listings, and Higher Sale Prices in June 2017 compared to last year.
The number of Closed Sales were up for both Single Family Homes and Condos. There were 1,276 Single Family Homes that closed (+8.4%), and 575 Condos (+11.9%). Median Sale Price is up for both categories as well, compared to the same month last year. The Median Price for a Single Family Home was up 7.6% to $247,950, while the Median Price for Condos was up 2.5% to $186,000.
There were more Active Listings in June 2017 compared year-over-year. There were 5,157 Single Family Homes on the market (and increase of 3.1%), and 3,149 Condos (increase of 10.6%). The Number of New Pending Sales was mixed between Single Family and Condos. Single Family Pending Sales dropped 1.6% and Condos rose 9.6%.
Listings are staying on the market longer than this time last year. Median Time to Contract for Single Family was 70 days last month, compared to 61 days at the same time last year, which is an increase of almost 15%.
Fort Myers Beach saw the biggest drop in the number of Closed Sales for Single Family Homes – going from 16 last June to 11 this year. Estero had the biggest jump – from 56 to 74 Closed Sales. Pine Island was the city with the biggest Median Price jump, going from $212,500 to $365,000 – an increase of almost 72%.