Market Report

Southwest Florida Market Perspective: 

After a period of decreased market activity due to storms and pre-election hesitancy, both buyer and seller engagement saw a notable increase in November. Historically, there is often a slowdown in activity leading up to a presidential election, followed by a rebound afterward. In the five weeks following this year's election, new listings surged by 42%, while newly pended sales rose by 32% compared to the five weeks before the election. A total of 4,080 new listings were recorded in November, representing a 26% increase from the previous year. Newly pended sales also experienced a 7% year-over-year increase. However, closed sales remained sluggish, with only 1,189 reported for the month, marking a 25% decline compared to last year. This drop can be attributed to the slowdown in newly pended sales that occurred prior to the election.

In November, listing inventory increased by 13%, rising from 12,709 to 14,422 available properties. This rise is due to the seasonal uptick in new listings combined with the post-election rebound. Consequently, the months of supply grew from 6.76 to 7.81, still within the balanced range of 6 to 12 months for Southwest Florida. The average sales price for the 12-month period ending in November was $821,713, reflecting a 3.4% increase from the previous year.

Market conditions can vary significantly based on location, property type, and price range. Navigating this complex market can be challenging, and the expertise of an experienced local Realtor® is invaluable. If you're considering entering the market, we invite you to set up a consultation to discuss your options and receive personalized insights tailored to your needs.

We are pleased to report that, as of November, John R. Wood Christie’s International Real Estate continues to lead as the top brokerage in total year-to-date sales volume, listings sold, and transactions in Southwest Florida!