The real estate market is always in flux, and Fort Myers, Florida, is no exception. The Single Family Real Estate Market has recently experienced several shifts that are worth noting for anyone
Luxury Real Estate Market in Lee County, Florida: A Mid-Summer Review
Dated: July 23 2023
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Welcome to the sunny side of real estate - the Lee County, Florida luxury housing market. If you are a real estate aficionado, or simply someone interested in keeping tabs on the luxury real estate market, you've come to the right place! Here, we will break down the market trends for the mid-summer month of June 2023.
Single-Family Luxury Homes: A Balanced Market
Lee County's single-family luxury real estate has been quite the balancing act, with a sales ratio standing at 17%. This essentially means that the market has been leaning neither in favor of buyers nor sellers, making it an opportune time for both parties.
Homebuyers and sellers alike can expect to transact very close to the list price, with homes being sold for a median of 96% of their listed price. That's not too shabby when you're playing in the million-dollar leagues! The most heated price segment, with an impressive sales ratio of 58%, is the $1,000,000-$1,099,999 band. It's clear that this is the sweet spot for luxury buyers and sellers in the current market.
The median luxury sales price for single-family homes is nestled comfortably at $1,200,000, showcasing the upscale nature of the Lee County market. However, compared to last year, homes are taking a bit longer to change hands. The median days on market rose to 31 days in June 2023, up from a quick 8 days in June 2022. This could mean that buyers are taking a bit more time to make decisions, or that there's simply more inventory to choose from.
Attached Luxury Homes: A Buyer's Advantage
Switching gears to the attached luxury market, Lee County presents a different picture. Here, we're in a buyer's market with a 13% sales ratio. This suggests that buyers currently have a bit more leverage, making it a great time to consider an upscale condo or townhome.
Much like their single-family counterparts, attached luxury homes sold for a median of 96.90% of list price in June 2023. This is a trend that speaks to the overall consistency in the Lee County luxury market. The most active price band is notably higher than that of single-family homes, at $2,200,000-$2,599,999, with a sales ratio of 25%.
The median luxury sales price for attached homes is a slightly more modest $732,500. And, similar to the single-family sector, the median days on market for June 2023 has risen to 31 days, up from 7 in June 2022. This, again, provides an indication of a slower-paced market or increased options for potential buyers.
In Summary
Whether you're a buyer or a seller, the Lee County luxury real estate market has something for you. The balanced single-family market and the buyer-friendly attached home market make it an intriguing place to watch and participate in.
If you're interested in further information, or ready to buy or sell a luxury home in Lee County, I'd be happy to assist. My name is Jason Jakus and I am here to help you navigate the beautiful, complex world of luxury real estate. I look forward to ensuring your next home sale or purchase is as seamless and profitable as possible. Give me a call today!
Jason Jakus
Jason Jakus, 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 his insight ....
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All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Updated on May 15, 2024 9:56 PM UTC
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