August 22, 2022:

Southwest Florida Monthly Market Update: July 2022/2021

The current market conditions in Southwest Florida present plenty of opportunity for both sellers and buyers in the region. With the exception of Cape Coral and Fort Myers, new inventory levels are down compared to last year. Buyers looking to purchase in both Cape Coral and Fort Myers have plenty of choice to find a home that suits their needs and may have a little more negotiation power than in other regions, where inventory levels are a little tighter. In general, homes are selling faster compared to last year and sellers are seeing gains on home value across the board. With more investors looking to purchase in Florida and people flocking specifically to Southwest Florida to enjoy the beautiful weather and charming communities, this would be a great time to sell your home for top value.  

Regional Breakdown

Naples

Compared to July 2021, Naples has seen 19.2% fewer new listings hitting the market. There was a sizable drop in home sales in July, with 682 homes sold, which was 45% less than this time last year. Despite fewer home sales overall, sellers in Naples are still seeing measurable gains in value, with homes selling at an average of $940k. This is an 8.3% increase in average sale price year-over-year. Homes are selling 5 days faster than they were in July 2021, with homes going firm in 25 days. 

Bonita-Estero

A drop in new listings in the Bonita-Estero region resulted in 224 homes sold in July 2021. This is 37.1% fewer homes sold than in July 2021. Home prices are on the rise in Bonita-Estero with sellers seeing gains upwards of 17.8% year-over-year. The average sale price is around $634k. Homes are also selling quickly in Bonita Estero, with homes going firm in just 19 days. This is 2 days faster than in July 2021. 

Cape Coral

Despite 10.5% more new inventory hitting the market in Cape Coral, home sales are down 23.5% more than last July. Cape Coral saw 509 home sales and sellers are still seeing significant gains in value. The average sale price in July 2022 was $478k. Homes are also selling 2 days faster than this time last year, with homes selling firm in just 18 days on average. 

Fort Myers Beach Areas

With just 27 new listings on the market, Fort Myers Beach Areas saw a 19.7% decrease in home sales in July 2022 compared to last year. Home sales are also down by 43.8% with 112 homes sold. Despite the dip in sales and tighter inventory levels, home sellers are seeing large gains in home values. The average sale price in July reached $917k which is a 29.6% increase from last year. Homes are also selling more than twice as fast as July 2021, with homes selling firm in just 21 days.  

Fort Myers

A massive jump in new listings brings plenty of new inventory for buyers looking for their next home in Fort Myers. Home sales are down by 29.8%, but sellers are seeing a substantial increase in value in their homes. The average sale price in Fort Myers is $471k which is a 31.4% increase from July 2021. Homes are also selling 2 days faster than they were this time last year, with just 19 days on average on the market. 

Marco Island

July 2022 saw a sizable dip in new listings for Marco Island, with 61 new properties hitting the market. With a 68.8% decrease in home sales compared to last year, Marco Island saw just 35 properties sold in July. Despite home sales being down, prices are on the rise and sellers are seeing gains upwards of 32% year-over-year in July. Homes are selling firm in an average of 31 days, which is one day faster than 2021. 

Whether you are looking to buy or sell in 2022, you want a Real Estate team that will go above and beyond to ensure that you get the value that you deserve. The market is equally beneficial for both buyers and for sellers who are looking to make the move or purchase an investment home. Our Professional, Loving Local Realtors are ready to go full out for you®.


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