June Market Update from Miloff Aubuchon Realty Group

July 15, 2024 | Blog

The price climb that defined our market for the past few years has begun to level off here in Southwest Florida.  As we head into the heart of summer, inventory is also showing signs of increasing.  This is offering some relief for buyers who’ve been facing a competitive landscape.  Here’s a closer look at what’s happening in our market.

Overall in Lee County in June, inventory increased 20 percent from May and 60 percent year-over year.  Homes are staying on the market a little longer, with days on market increasing slightly to 47 from the month prior for single family homes and 57 for condos, townhomes and villas.

White home values remain strong, the rapid price appreciation we’ve seen has slowed.  The median sales price for single family homes dropped in June to $400,000.

Here’s what this means for you.

Buyers: With more choices and potentially more room to negotiate, this could be a good time to enter the market.  Search for homes here.

Sellers: While the market has shifted slightly, there’s still strong demand for homes in Southwest Florida.  Working with a professional to price your home competitively and strategically market it will help you achieve your selling goals.  Find out how much your home is worth.

The Southwest Florida market is turning the tide and adjusting to a new normal.  While the rapid price increases are a thing of the past for now, the fundamentals remain strong.  It’s still a great time to buy or sell a home, but having the right information and a trusted advisor by your side is crucial.

Contact a Miloff Aubuchon Realty Group real estate professional at 239-542-1075 today and Let’s Get Moving!