The January 27, 2021 edition of the Ft Myers Florida Weekly reports that “Lee County’s housing market again saw a double-digit increase in closings in the single-family category in December compared to the same period a year ago. Lee County closings in the single-family category were up sharply in December (1,648) compared December 2019 (1,221).
This is the highest number of closed sales for December going back to 2016. Year-over-year, sales were up by 35% for single-family and by 34.8% for townhouses and condominiums, according to figures just released by Florida Realtors, an umbrella organization for Realtor groups throughout the state.
December showed a median sale price increase of 41.9% for single-family and 11.8% in the townhouse/condominium category. Median price in the single-family category shows a steady and consistent rise in pricing, indicating a rise in the pricing segments. Inventory is still significantly down for both.
Year-over-year, local inventory of single family dwellings is down again this month at 53.2% as shown in active listings on the Multiple Listing Service. A 1.9- month supply of inventory shows we are in a sellers’ market as more listings are seeing multiple offers. Properties are going under contract in 26 days compared to 57 days in December 2019.
In the townhouse/condominium category, listings were down 36.8% versus December 2019. That translates to a three-month supply and shows the condo market is also now in a sellers’ market.
Broken down by city, all cities saw an increase in the number of closed sales over December 2019. Fort Myers Beach sales surged 100%, and Sanibel Captiva registered a 95% increase in properties sold.
When looking at closed sales by price point, all single-family homes over $200,000 saw a significant increase over December 2019. Homes over $600,00 saw triple digit increases compared to December 2019.