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LEE COUNTY FLORIDA
2023
JUNE
8 5 11 16 20 38 36 53 66 69 76 145 82 45 142 0 3 0 1 3 5 11 6 10 11 21 25 22 17 25 $7,500,000+ $6,400,000 - $7,499,999 $5,400,000 - $6,399,999 $4,600,000 - $5,399,999 $3,800,000 - $4,599,999 $3,200,000 - $3,799,999 $2,600,000 - $3,199,999 $2,200,000 - $2,599,999 $1,800,000 - $2,199,999 $1,600,000 - $1,799,999 $1,400,000 - $1,599,999 $1,200,000 - $1,399,999 $1,100,000 - $1,199,999 $1,000,000 - $1,099,999 $925,000 - $999,999 Inventory Sales Square Feet3 -RangePrice -Median SoldBeds -Median SoldBaths -Median SoldSold -TotalInventory -TotalSales Ratio -Sold/Inventory0 - 1,999 $1,100,000 3 2 19 138 14% 2,000 - 2,499 $1,200,000 3 3 47 225 21% 2,500 - 2,999 $1,235,000 3 3 38 158 24% 3,000 - 3,499 $1,475,000 4 4 32 112 29% 3,500 - 3,999 $2,000,000 4 5 9 64 14% 4,000+ $3,046,285 4 5 15 115 13%
SINGLE - FAMILY HOMES
INVENTORY VS. SALES
Luxury Benchmark Price 1: $925,000 Balanced Market 812 Total Inventory: 160 Total Sales: 20% Total Sales Ratio2: 1 The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
LEE COUNTY
LUXURY
| MAY 2023
LEE COUNTY SINGLE - FAMILY HOMES
13 - MONTH LUXURY MARKET TREND 4 $1,375,000 $1,300,000 $1,300,000 $1,375,000 $1,192,500 $1,222,500 $1,424,363 $1,217,352 $1,300,000 $1,270,550 $1,300,000 $1,300,000 $1,310,000 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23
TOTAL INVENTORY
TOTAL SOLDS
SALES PRICE
466 812 May 2022 May 2023
VARIANCE: 74 %
VARIANCE: - 3 %
LEE
COUNTY
VARIANCE: - 26 % 215 160
SALE TO LIST PRICE RATIO
VARIANCE: - 5 % 99.79% 95.11%
VARIANCE: - 5 % $1.38m $1.31m
DAYS ON MARKET
SALE PRICE PER SQFT. May 2022 May 2023 May 2022 May 2023 May 2022 May 2023 May 2022 May 2023 May 2022 May 2023
VARIANCE: 200 % 9 27
MARKET SUMMARY | MAY 2023
• The Lee County single-family luxury market is a Balanced Market with a 20% Sales Ratio.
• Homes sold for a median of 95.11% of list price in May 2023.
• The most active price band is $6,400,000-$7,499,999, where the sales ratio is 60%
• The median luxury sales price for single-family homes is $1,310,000.
• The median days on market for May 2023 was 27 days, up from 9 in May 2022.
3Square foot table does not account for listings and solds where square foot data is not disclosed. 4Data reported includes Active and Sold properties and does not include Pending properties.
MEDIAN DATA REVIEW | MAY Solds Median Sales Price Inventory 466 571 538 546 497 449 507 541 630 693 784 788 812 215 161 99 113 68 62 65 79 96 96 138 141 160
$538 $524
LEE COUNTY ATTACHED HOMES
VS. SALES | MAY 2023
32 9 10 8 16 16 28 31 11 41 40 69 49 55 40 2 1 1 2 4 7 5 4 5 4 8 11 20 16 8 $3,000,000+ $2,600,000 - $2,999,999 $2,200,000 - $2,599,999 $1,900,000 - $2,199,999 $1,700,000 - $1,899,999 $1,500,000 - $1,699,999 $1,300,000 - $1,499,999 $1,100,000 - $1,299,999 $1,000,000 - $1,099,999 $900,000 - $999,999 $800,000 - $899,999 $700,000 - $799,999 $650,000 - $699,999 $600,000 - $649,999 $575,000 - $599,999 Inventory Sales
Square Feet3 -RangePrice -Median SoldBeds -Median SoldBaths -Median SoldSold -TotalInventory -TotalSales Ratio -Sold/Inventory0 - 999 $875,000 2 2 1 35 3% 1,000 - 1,499 $740,000 2 2 13 115 11% 1,500 - 1,999 $674,000 3 2 30 112 27% 2,000 - 2,499 $696,500 3 3 36 83 43% 2,500 - 2,999 $1,472,500 3 3 12 60 20% 3,000+ $2,545,000 3 4 6 50 12%
INVENTORY
Luxury Benchmark Price 1: $575,000 Seller's Market 455 Total Inventory: 98 Total Sales: 22% Total Sales Ratio2: 1 The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
LUXURY
LEE COUNTY
MEDIAN DATA REVIEW | MAY
TOTAL INVENTORY TOTAL SOLDS
ATTACHED HOMES
SALES PRICE
180 455
VARIANCE:
SALE PRICE PER SQFT.
VARIANCE: - 19 % $496 $402
- 18 % 120 98
SALE TO LIST PRICE RATIO
100.00% 96.93%
VARIANCE: - 3 %
$820k $745k
DAYS ON MARKET
May 2022 May 2023 May 2022 May 2023 May 2022 May 2023 May 2022 May 2023 May 2022 May 2023 May 2022 May 2023
6 21
VARIANCE: 250 %
LEE COUNTY MARKET SUMMARY | MAY 2023
• Homes sold for a median of 96.93% of list price in May 2023.
• The most active price band is $1,000,000-$1,099,999, where the sales ratio is 45%
• The median luxury sales price for attached homes is $744,500.
3Square foot table does not account for listings and solds where square foot data is not disclosed. 4Data reported includes Active and Sold properties and does not include Pending properties.
180 211 216 215 228 194 247 287 335 387 447 460 455 120 129 63 68 37 39 41 39 50 70 92 90 98 $820,450 $800,000 $769,500 $825,000 $795,000 $870,000 $760,000 $720,000 $970,000 $742,500 $930,000 $795,000 $744,500 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Solds Sale Price Inventory
VARIANCE:
13 - MONTH LUXURY MARKET TREND 4 VARIANCE:
153 %
- 9 %
• The Lee County attached luxury market is a Seller's Market with a 22% Sales Ratio.
• The median days on market for May 2023 was 21 days, up from 6 in May 2022.