Median Sold Prices were only up 0.3% for May 2022 in Fort Myers, which is good news for buyers. The Gulf Coast Multiple Listing Service also saw an increase in Price Reductions during this time
Southwest Florida Housing Market Update
Dated: June 29 2022
Median Sold Prices were only up 0.3% for May 2022 in Fort Myers, which is good news for buyers. The Gulf Coast Multiple Listing Service also saw an increase in Price Reductions during this time unlike anything sean during the previous year. Active grew by 10.5% to 1217; which indicates they are sitting longer on the market since new listings were down by 14.2%. Also supporting this is less sold homes during the month, 37% to only 403 properties. The best news for buyers is that months supply of inventory based on current numbers and trends grew 34.8% to just over 3 months supply.
The Cape Coral Market showed an increase of 5.1% in total acive listings; however it also showed a larger increase of Median Sold Price to $ 450,000. Although new listings were down 9.6%, sellers sale their homes sit on the market just a little longer as Median Days on Market grew 8.7% to 46 days. And like it's sister city across the river, months supply of inventory grew to 3.46 months, up 28.2%.
And finally, the Naples Housing Market showed similiar trends with Median Sold Prices up 4% to $ 622,500 and a slight increase in Total Active Listings. Unlke Fort Myers and Cape Coral, Sold Properties in Naples was up 3.1% and New Listings were down double digits to 18.4%. There is no surprise that Months Supply of homes was only 1.8% and still remain under three months.
As Mortgage Interest increases, it is important that buyers who are currently renting are paying 100% interest and gaining no equity. During this time frame, Governor Ron DeSantis announced the launch of the HomeTown Heros program designed to assist the front line employees to realize the dream of home ownership.
For all your real estate needs, go to www.JakusRealtyTeam.com.
Jason Jakus, Broker and Owner of NextHome Advisors, has provided Southwest Florida luxury real estate market with unparalleled expertise since 2006. Jason Jakus has been featured on FOX and NBC for h....