FOR IMMEDIATE RELEASE – Market Update May 2025

Lee County Housing Market Sees Decline in Median Sale Price Amid Rising Inventory

(Fort Myers, FL – May 29, 2025) – The Lee County housing market in early 2025 has experienced a notable shift, characterized by declining median sale prices and a significant increase in inventory, signaling a transition towards a buyer’s market.

Key Highlights:

• Median Sale Price: As of February 2025, the median sale price for homes in Lee County was approximately $390,000, reflecting a 2.5% decrease compared to the previous year. Redfin

• Inventory Levels: The number of active listings has surged, with 23,425 homes on the market as of March 3, 2025, up from 16,561 in December 2024. This substantial increase in inventory has contributed to the market’s shift in favor of buyers. Paradise Luxury Group

• Days on Market: Homes are taking longer to sell, with the average days on market reaching 81 days in Lee County, indicating a slowdown in buyer activity. thetitlelink.com+2Paradise Luxury Group+2Paradise Luxury Group+2

• Luxury Market Trends: In the luxury segment, properties priced at or above $1 million saw 101 sales in February 2025, slightly up from 98 in January. Notably, luxury condos experienced a 120% increase in closed sales compared to the previous year, with a median time to contract of just 10 days, highlighting strong demand in this niche market. Naples Golf Homes | Naples Golf Guy

City-Specific Observations:

• Cape Coral: The median home sale price in Cape Coral stood at $365,000 in January 2025, marking an 11.2% decrease from the previous year. The months of supply for homes reached 12.3, indicating a strong buyer’s market. FloridaCustomHomes.com

• Fort Myers: Homes in Fort Myers had a median sale price of $378,500, with properties spending an average of 81 days on the market, reflecting the broader county trend of increased inventory and longer selling times.

Market Outlook:

The current trends suggest that buyers have more negotiating power due to the increased inventory and longer time homes are spending on the market. Sellers may need to adjust pricing strategies to align with the evolving market conditions.

For more detailed information and personalized market analysis, please contact your local real estate professional.

Best Regards

Jim and Lin Miller

Sellstate Realty

239-896-3121

[email protected]

http://www.zillow.com/profile/Lin-Miller/Reviews/

FOR IMMEDIATE RELEASE – Lee County Housing Market Update: April 2025

Lee County Housing Market Shows Signs of Stabilization Amid Rising Inventory

(Fort Myers, FL – May 29, 2025) – The Lee County housing market in April 2025 exhibited signs of stabilization, with modest increases in median sale prices and a continued rise in inventory levels, indicating a shift towards a more balanced market.

Key Highlights:

• Median Sale Price: The median sale price for homes in Lee County was $390,000 in February 2025, reflecting a 2.5% decrease compared to the previous year. Redfin

• Inventory Levels: Active listings in Southwest Florida, including Lee County, surged to 23,425 homes as of March 3, 2025, up from 16,561 in December 2024.

• Days on Market: Homes in Lee County spent an average of 81 days on the market, indicating a slowdown in buyer activity.

• Luxury Market Trends: In the luxury segment, properties priced at or above $1 million saw 101 sales in February 2025, slightly up from 98 in January. Naples Golf Homes | Naples Golf Guy

City-Specific Observations:

• Cape Coral: The median home sale price in Cape Coral stood at $365,000 in January 2025, marking an 11.2% decrease from the previous year.

• Fort Myers: Homes in Fort Myers had a median sale price of $378,500, with properties spending an average of 81 days on the market. Paradise Luxury Group

Market Outlook:

The current trends suggest that buyers have more negotiating power due to the increased inventory and longer time homes are spending on the market. Sellers may need to adjust pricing strategies to align with the evolving market conditions.

For more detailed information and personalized market analysis, please contact your local real estate professional.

Best Regards

Jim and Lin Miller

Sellstate Realty

239-896-3121

[email protected]

http://www.zillow.com/profile/Lin-Miller/Reviews/

Market Update Jan. 2018

The Lee County Real Estate Market for 2017 was relatively flat compared to 2016. During both time periods, a “Buyers’ Market” has existed where the Months Of Inventory for both Single Family homes and Condominiums has been ranging from 5 to 9 months.

Unit sales of Single family homes in Cape Coral were up by 1% and down by 5% in Fort Myers. Of note is the increasing number of new construction homes that are selling. Cape Coral new home sales represented 18% of the transactions and Fort Myers at 11%. The new homes are also relatively close in price of all homes sold in the market which is putting pressure on existing properties.

The Median pricing has continued to increase for Single family at 8% in Fort Myers and 7% in Cape Coral over last year.

Condo prices appear to have jumped by 13% in Cape Coral which is sort of an anomaly as there are far fewer sold than in Fort Myers. The Fort Myers market showed a flat change in Median pricing of Condominiums from 2016 to 2017.

There are a few factors in play which might increase the number of new buyers to the Florida market. The new Federal Tax plan is going to make homestead properties in New York and Illinois less attractive if the deductibility of their taxes is decreased. Stock market increases are driving up 401K’s and opening up more funds for a second home. Hospitals and clinics on the west coast are investing in size and personnel

If you or your friends are looking to buy or sell – give us a call. Lin and I are long term, experienced, full time real estate agents here in Lee County and would love the opportunity to assist you in your realty needs.

Best Regards

Jim and Lin Miller

Sellstate Realty

239-896-3121

[email protected]

http://www.zillow.com/profile/Lin-Miller/Reviews/

Housing Market Update January 2018 – Sees Drop in Median Sale Price

FOR IMMEDIATE RELEASE – Market Update January 2018

(Fort Myers, FL – January 24, 2018) – The end of 2017 saw a dip in sale price in Lee County. The number of listings also dropped, but closed sales were on the up.

The biggest statistical drop for Lee County in December 2017 was the Median Sale Price – Which went from $249,900 a year ago down to $238,350 for a Single Family Home (a change of 4.6%). Active Listings of Single Family Homes also dropped – almost 3%.

On the positive side, we saw more closed sales for both Single Family Homes (+1.9%) and Condos (+11.3%). While the number of New Pending Sales dipped by less than a percent for Single Family Homes, Pending Condos Sales were up 6.4%

Homes continue to sit on the market for more time. Last year, the Median Time to Contract was 58 days. This past December, it was 64 days – an increase of 10.3%.

Breaking the numbers down by city, only North Fort Myers, Cape Coral, and Pine Island saw positive change for the number of Single Family Homes sold in December. Everywhere else saw a drop that ranged from -2.5% in Lehigh Acres to -40.3% in Estero.

An interesting piece of data can be found when looking at Closed Sales by price point. In the $1 million-plus range, there was a 37.5% DROP for Single Family Homes, but a 120% INCREASE for Condos. The Median Time to Contract for Condos in that price bracket was only 10 days. Single Family Homes in that range sat on the market for 258 days.