As we continue through the summer months where new listings and sales tend to be “slower” than that of the seasonal months, the pace of new listings and closed sales are trailing historical norms. Looking at the 12 month period ending June 30th, closed sales were down 3.9% and new listings were up 17.9% compared to the previous 12 months. This is because the previous 12 months, ending June 30th of 2023, our market was still in the beginning stages of recovering from the pandemic led surge. Yes, new listings are up within the past 12 months but they’re down compared to the pre-pandemic trends. This is what has kept our level of inventory from skyrocketing and creating a “buyers” market.
As of June 30th of this year, 12,942 properties were available which is down from the 13,912 listings that were available at the end of April. To provide a better idea of what that looks like, our current supply level is at 6.65 months compared to 6.98 months at the end of April. This can be considered normal for the summer months when our real estate traffic tends to slow down as the seasonal traffic has vacated. That being said, the 12-month rolling average sales price has posted a slight year-over-year increase as it has for 45 of the past 48 months.
6 – 12 months is considered a balanced market for our area. A balanced market can have opportunities for both buyers and sellers; however, such a market can also pose challenges when it comes to making informed, confident decisions. The expertise offered by a professional local Realtor® will lend clarity, an important factor when seeking to achieve the highest possible level of success.
We are pleased to announce that through June, John R. Wood Christie’s International Real Estate continues to rank as the top brokerage in total year-to-date sales volume and transactions in Southwest Florida! For any questions regarding the state of the market or general real estate topics, please don’t’ hesitate to reach out!
For more detailed information, please click on the link below to view the detailed market report listed. Should you have any questions, please don't hesitate to ask!