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
July 2023 Housing Statistics for Southwest Florida Single Family Home Market: A Comprehensive Analysis
Dated: August 12 2023
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Southwest Florida's single family home market is constantly evolving, and it's imperative for both buyers and sellers to understand the trends. In this blog post, we will delve into the July 2023 housing statistics, which showcase some intriguing shifts.
Key Highlights:
Median Price: $460,000
Closed Sales: 1502
Active Inventory: 6,827 units
Median Sold Price per Square Foot: $264
New Listings: 2,131
Median Days on Market: 34 (up 112.5% from July 2022)
1. Median Price Trends
The median price for single family homes in Southwest Florida is currently at $460,000. This price marker is essential for buyers who are budgeting and sellers who are determining an appropriate listing price.
2. Closed Sales and Inventory
With 1502 closed sales in July 2023, there has been a noticeable 13% decrease in closed transactions compared to July 2022. Active inventory is also down to 6,827 units, reflecting a tighter market.
3. Price Per Square Foot
The median sold price per square foot stands at $264. This metric is vital for buyers looking to understand what their money can buy in terms of space and for sellers to price their property competitively.
4. New Listings
There were 2,131 new listings in July 2023, a number that has fallen compared to the same time the previous year. This indicates fewer options for buyers but can lead to faster sales for sellers in this competitive market.
5. Days on Market
A significant change was noted in the median days on the market, now at 34 days, up 112.5% over July 2022. This indicates that homes are taking longer to sell, allowing buyers more time to make decisions.
Conclusion: A Mixed Bag for Southwest Florida
The Southwest Florida single family home market in July 2023 presents a complex picture. While prices remain robust, the decrease in closed transactions and new listings may signal a cooling period. However, with active inventory down and median days on the market up, the market still offers opportunities for both buyers and sellers.
If you're looking to buy or sell in Southwest Florida, understanding these statistics is crucial. Reach out to our expert team for personalized advice tailored to your unique situation.
Jason Jakus
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....
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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 October 1, 2023 1:18 PM UTC
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