Lee and Collier County Home Prices Sky Rocket in January
Posted by Benjamin Dona on Saturday, February 22nd, 2014 at 3:13pm.
The Realtor Association of Greater Fort Myers and the Beach released new figures for January on single family home re-sales in Lee County, Florida reflecting a 27.2% increase over January of 2013. The new sales numbers equate to a $38,500 increase in the median sales price range for single family homes. That's up to $180,000 from $141,500 last year. Condominiums median sales prices were also up by more than 20% year over year. The median is the price at which half the properties sell for more and half for less.
Lee County's prices are being pushed upward by a shrinking inventory that is down almost 4% year over year and by the severe winter occurring in the rest of the country, which makes purchasing a property in Southwest Florida even more desirable to seasonal visitors.
Collier County's January prices, predominately the Naples market, rose by 23% to $264,000 year over year. Facing similar issues as Lee County, inventory is down by 18% year over year, especially in the affordable single family and condominium housing price range of under $300,000. Closed sales rose by 10%, but pending sales rose by only 2%. Again, low inventory and the winter up north created demand for more housing resulting in shorter time on market and multiple offer situations. The above $2M price range of homes and condominiums is up by 10% to a median price of $3.2M. Buyers are again confident in the market and realize prices have been increasing for quite some time now.
All this is really good news for sellers as their listings should sell more quickly and in the actual range of what their homes are currently worth.
*Sales Data Statistics from SWFL MLS.
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About the Author
Benjamin Dona is the Broker and Owner of Gulf Coast Associates, Realtors in Bonita Springs, Florida. He holds two advanced degrees, an MBA and an MA, and has an extensive background in both business and marketing. In 1998, he founded Gulf Coast Associates, and formed a group of like-minded Realtor® associates dedicated to offering professional Southwest Florida real estate services by concentrating on information, education and the use of leading edge technologies. He also is a recognized expert on the "Net," a much-quoted and read blog author, and a contributor to both national and international news outlets. Benjamin is a member of the National Association of Realtors, the Florida Association of Realtors, and numerous local real estate boards throughout Southwest Florida.
Contact Benjamin Dona at 239-948-3955
Southwest Florida Real Estate Blog
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