Discover the latest trends and insights in the Southwest Florida real estate market with our comprehensive December market report. Gain valuable information on property prices, demand, and investment opportunities, guiding you toward informed decisions in the thriving market.
As we approach the busy winter selling months, the usual seasonal increase in sellers putting their homes on the market in anticipation of heightened buyer activity is well underway. However, while November new listings were up when compared to 2022, they came in at a rate below longer-term historical trends for the month, helping to keep inventory levels in check.
Although closed sales were down 15.96% year-to-date when compared to the same period in 2022, November closed sales were essentially unchanged from last year.
Listing Inventory / New Listings
As of November 30th, listing inventory stood at 10,603 units while months of supply posted at 5.21 months. In our market, 6 to 12 months of supply generally indicates a balanced market, while fewer than 6 months suggests a seller’s market. Our monthly market report denotes months of supply for a long list of Southwest Florida market areas, many of which are posting fewer than 6 months of supply.
Average Selling Price
While market conditions in most areas are strong, it’s important for sellers to remember that the price increases experienced in 2020, 2021, and 2022 are behind us, and buyers have more options now than at any point over the past few years.
Moreover, the average selling price in Fort Myers for the 12-month period through November was $495,882, a 1.85% increase from the preceding 12-month period when the average selling price was $486,858.
Through November, John R. Wood Christie’s International Real Estate held the top position in Southwest Florida in sales volume and total homes sold!*
*Broker rankings according to SWFLA MLS. All rankings are for residential improved property excluding manufactured housing. “Southwest Florida” ranking includes Lee and Collier Counties.
Check out this Youtube video of the whole Florida Market Update for December 2023!