Sanibel Real Estate Blog: Seller’s Market Continues

Lee County continued to be a seller’s market inOctober, but is slowing down slightly ahead of the upcoming holiday season.
According to the latest data released by Florida Realtors®, closed sales on Single Family Homes was up 1.6% year-over-year in October. There were 1,055 last month, compared to 1,038 in 2014. The Median Sale price jumped 14% from 2014 to 2015 from $184,175 to $210,000.
For Condos and Townhomes, Closed Sales were up 10% from 471 in October 2014 to 518 in 2015. The Median Sale price was up 6.4% to $173,450.
Both Active Listings and Months Supply of Inventory are down. Single Family listings dropped 10.3% year-over-year in October. Months Supply is down 21.6% 4 months, compared to 5.1 months in October 2014.
Both Single Family Homes and Condos/Townhouses continue to sell quicker than this time last year. Homes are spending a median 28 days on the market, which has dropped from 36 days in 2014. Condos and Townhouses spent a median 43 days on the market in October 2015 comparedto 53 in 2014, a drop of nearly 19%.

Maybe it is time to put that Sanibel real estate on the market! Check out our sales info on www.chuckandrews.com or give Chuck a call anytime at 239-849-3396 to discuss the Sanibel real estate market

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